Business support during Coronavirus

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1. Overview

Small business support has recently been announced by both the Commonwealth and Victorian Governments to support businesses which are experiencing hardship due to the COVID-19 health emergency.

These measures can be accessed through the links provided on this webpage.

Mayor Tanya Kehoe provides you a snapshot in this video:

 

2. Commonwealth Government

Businesses are encouraged to access support through the following Australian government support and stimulus programs:

Job Keeper Payment: 
Eligible employers will be able to claim a fortnightly payment of $1,500 per eligible employee from 30 March 2020, for a maximum period of 6 months. Register your details via the ATO website.

https://treasury.gov.au/sites/default/files/2020-03/Fact_sheet_Info_for_Employers_1.pdf 


Boosting Cash Flow for Businesses:
For eligible small and medium sized businesses, and not-for profits (including charities) to help cash flow so they can keep operating, pay their rent, electricity and other bills and retain staff. Lodge eligible activity statements with the ATO. 

https://treasury.gov.au/sites/default/files/2020-03/Fact_sheet-Cash_flow_assistance_for_businesses_0.pdf

 

Increasing the Instant asset write-off:
The instant asset write-off threshold has been increased from $30,000 to $150,000.

https://treasury.gov.au/sites/default/files/2020-03/Fact_Sheet-Delivering_support_for_business_investment.pdf

 

Backing Business Investment:
A 15 month investment incentive to support business investment.  Eligible businesses will be able to deduct 50% of the cost of an eligible asset on installation.

https://treasury.gov.au/sites/default/files/2020-03/Fact_Sheet-Delivering_support_for_business_investment.pdf

 

Supporting Apprentices and Trainees:
50% wage subsidy for apprentices and trainees over nine months. 

https://www.employment.gov.au/newsroom/support-small-businesses-retain-apprentices-and-trainees

 

Temporary relief for Financially Distressed Businesses:
 
https://treasury.gov.au/sites/default/files/2020-03/Fact_sheet-Providing_temporary_relief_for_financially_distressed_businesses.pdf

 

3. Victorian Government

Businesses are also encouraged to access support through the Victorian government Economic Survival Package which includes:

• Payroll tax refund

• Business Support Fund

• Working for Victoria Fund

• Land tax deferral

• Fast tracking outstanding supplier invoices

• Rent relief for commercial tenants in government buildings

Businesses across the state can now access information on dealing with COVID-19 by calling the Business Victoria hotline on 13 22 15.

https://www.business.vic.gov.au/__data/assets/pdf_file/0005/1888997/Economic-Survival-Program-Fact-Sheet.pdf

4.
Working for Victoria

The $500 million Working for Victoria initiative helps Victorians, including people who have lost their jobs due to the economic impacts of coronavirus (COVID-19), find new work opportunities. Access the Working for Victoria website for further information and to register: https://www.vic.gov.au/workingforvictoria

5.
Council relief and support

Council has provided fee and rate relief to businesses affected by COVID-19 details on this webpage - Rates and fees

 

6. Regional

Councils in the Central Highlands region are working with Regional Development Victoria on a collaborative approach to Small Business Support. Further information is to follow.

7. Other

Commerce Ballarat has established a number of resources in response to the issues confronting small business in the current environment including online workshops and lists of frequently asked questions.
To access these resources please follow this link:
http://www.commerceballarat.com.au/cb_pages/coronavirus_covid-19_resources.php