Job Keeper Payment:
The JobKeeper Payment is a $130 billion package designed to help businesses affected by the Coronavirus to cover the costs of their employees' wages, so that more employees can retain their job and continue to earn an income.
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.
Your business will likely be eligible if your turnover is expected to have decreased by 30% or more to a comparable period a year ago of at least a month.
How to apply: Register your details via the ATO website
Boosting Cash Flow for Businesses:
The Government is providing up to $100,000 to eligible small and medium sized businesses, and not-for profits (including charities) that employ people, with a minimum payment of $20,000. These payments will help businesses’ and not-for-profits’ cash flow so they can keep operating, pay their rent, electricity and other bills and retain staff.
How to apply: These payments will be delivered by the ATO as an automatic credit in the activity statement system from April 2020 upon employers lodging eligible upcoming activity statements.
More information: Boosting Cash Flow Fact Sheet
Also learn about:
Visit The Treasury website for more full summaries of business support.
Business Support Fund - Applications now open
The $500 million Business Support Fund is now open for applications.
The fund will help small businesses highly impacted by shutdown restrictions. Businesses can apply for a $10,000 grant towards operational costs to help keep people in work.
To be eligible: businesses must already employ staff, have payroll of less than $650,000 and a turnover of more than $75,000.
Further information: Business Support Fund Fact Sheet
Full details on the Victorian government business support package are available on the Business Victoria website.
Commercial Tenancies Relief Scheme
The Victorian Government has announced a commercial tenancy relief scheme to alleviate financial hardship faced by tenants and landlords as a result of COVID-19. The scheme provides the following support:
- A six-month moratorium on commercial tenancy evictions from 29 March 2020.
- Freeze on rent increases during the moratorium for commercial tenants
- A rental payment waiver or deferral proportionate to commercial tenants' income reduction due to COVID-19, to be negotiated between tenant and landlord.
- A mediation service for commercial tenants and landlords to support fair tenancy negotiations.
The Victorian government will also provide land tax relief to commercial landlords that provide rent relief to their tenants.
Visit the Victorian Small Business Commission for more Information.