COVID-19 Support for Australian Businesses

We have collated various government and state-based financial assistance and economic stimulus initiatives and resources in response to COVID-19.

Find financial assistance requirements, eligibility and timing for government support for your business in these rough times. We'll be updating this page as new information is available.

FEDERAL GOVERNMENT SUPPORT FOR AUSTRALIAN BUSINESSES

JobKeeper Payment

Subsidy from the Federal Government to continue paying their employees. Affected 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.

To know more if you are eligible, please visit business.gov.au.

Boosting Cash Flow for Employers

Through the Australian Taxation Office (ATO), the Government will provide tax-free cash flow boosts of between $20,000 and $100,000 to eligible businesses, delivered through credits in the activity statement system, when eligible businesses lodge their activity statements.

You don't need to apply; the cash flow boost is a tax-free payment to employers and is automatically calculated by the Australian Taxation Office (ATO). There are no new forms required.

To find out more, please visit ATO website.

Coronavirus SME Guarantee Scheme

The Government will guarantee 50 per cent of eligible loans issued by participating lenders under the Coronavirus SME Guarantee Scheme. The guarantee will apply to eligible unsecured loans of up to $250,000 per borrower (plus interest). The guarantee will apply to both principal and interest.

The Scheme will commence by early April 2020 and be available for new loans made by participating lenders until 30 September 2020.

For details, please visit Treasury.gov.au.

QUEENSLAND

Queensland COVID-19 Jobs Support Loans

Low interest loans of up to $250,000 with an initial 12-month interest-free period for businesses.

For more information, please visit QRIDA website.

Coronavirus Payroll Tax Relief

You may be eligible for one or more of a range of payroll tax relief measures as a result of the impacts of coronavirus (COVID-19).

These include refunds of payroll tax for 2 months, a payroll tax holiday for 3 months, deferral of paying payroll tax for the 2020 calendar year.

For details, please see business.qld.gov.au website.

Electricity relief for businesses

Your business may be eligible for a $500 rebate off energy bills if you consume less than 100,000kWh. This will be automatically applied on your business electricity bills.

For more information, please download Electricity Relief For Households And Businesses Q&A pdf file.

NEW SOUTH WALES

$10,000 grants for small business

NSW small businesses struggling with the COVID-19 shutdown will receive grants of up to $10,000 under a new assistance scheme.

The application form will be available on the Service NSW website by 17 April.

See if your business is eligible at service.nsw.gov.au website.

Payroll Tax Relief

The NSW Government has announced the deferral of payroll tax for eligible businesses as part of its economic stimulus package to help businesses impacted by COVID-19, lifting the payroll tax threshold to $1 million commencing 1 July 2020.

For more information, please visit the revenue.nsw.gov.au website.

VICTORIA

Business Support Fund

The Victorian Government has launched the $500 million Business Support Fund to help small businesses survive the impacts of the coronavirus (COVID-19) pandemic and keep people in work.

Eligible businesses can apply for a one-off $10,000 grant which can be used towards costs such as utilities, rent and salaries, and activities to support business continuity planning.

To apply, visit business.vic.gov.au website.

Victorian Tax Relief for Eligible Businesses

The State Revenue Office has several tax measures to help small businesses during the pandemic. These include waived payroll tax, waived liquor licence fees, and land tax deferral.

Find out more from State Revenue Office Victoria website.

City of Melbourne COVID-19 business grants

As part of the economic support package for city businesses, City of Melbourne is offering $5 million in grants for small to medium sized businesses and non-profit organisations.

Grants of up to $5,000 are available to invest in online and e-commerce capabilities, up to $2,000 to take part in training and professional development, or up to $10,000 to undertake capital works to adapt to changing conditions.

Find out how you can apply at melbourne.vic.gov.au website.

SOUTH AUSTRALIA

Economic and Business Growth Fund

$300 million Business and Jobs Support Fund to support individual businesses and industry sectors directly affected by coronavirus.

For details, please see SA Economic and Business Growth Fund.

Payroll Tax Relief

Business groups with annual Australian wages of up to $4 million will receive a six-month payroll tax waiver. Eligible business groups will not be required to pay any payroll tax in the months of April to September 2020.

Further information is available at revenuesa.sa.gov.au website.

NB: This post was first published in April 2020 and has been updated to reflect changes to various government relief and funding opportunities for Australian businesses affected by COVID-19.