Federal Government support for small and medium sized businesses

The Australian Government is providing cash flow support to businesses and temporary measures to provide relief for financially distressed businesses. Visit this website to find out about:

• JobKeeper payment
• Boosting cash flow for employers
• Temporary relief for financially distressed businesses
• Increasing the instant asset write-off
• Backing business investment
• Supporting apprentices and trainees

Federal government support available for sole traders

The Australian Government is supporting sole traders with instant asset write-offs, increased and accelerated income support, and more. If you are a sole trader and do not employ any staff, visit this website to find out about:

• JobKeeper Payment for sole traders
• Increased instant asset write-of
• Backing business investment
• Increased and accelerated income support
• Assistance for affected regions, communities and industries
• SME Guarantee Scheme
• Early access to superannuation

Immediate cashflow and credit support for SMEs

The Australian Government will guarantee loans to SMEs and cut red tape by providing a temporary exemption from responsible lending obligations for lenders. This will provide businesses with accelerated funding to meet cash flow needs. Visit this website to find out about:

• Government guarantee of loans
• Temporary exemptions from responsible lending obligations

Support from the Australian Taxation Office

Visit this website to find out how the ATO is supporting businesses. Information includes:

• Assistance measures available
• We will work with you
• Temporary shopfronts
• Frequently asked questions for employers, payments and reporting, interest and penalties, cancelled supplies and events

Commercial and residential tenancies

National Cabinet agreed to a moratorium on evictions over the next six months for commercial and residential tenancies in financial distress who are unable to meet their commitments due to the impact of coronavirus. Commercial tenants, landlords and financial institutions are encouraged to sit down together to find a way through to ensure that businesses can survive and be there on the other side. As part of this, National Cabinet agreed to a common set of principles, endorsed by Treasurers, to underpin and govern intervention to aid commercial tenancies as follows:

• a short term, temporary moratorium on eviction for non-payment of rent to be applied across commercial tenancies impacted by severe rental distress due to coronavirus;
• tenants and landlords are encouraged to agree on rent relief or temporary amendments to the lease;
• the reduction or waiver of rental payment for a defined period for impacted tenants;
• the ability for tenants to terminate leases and/or seek mediation or conciliation on the grounds of financial distress;
• commercial property owners should ensure that any benefits received in respect of their properties should also benefit their tenants in proportion to the economic impact caused by coronavirus;
• landlords and tenants not significantly affected by coronavirus are expected to honour their lease and rental agreements; and
• cost-sharing or deferral of losses between landlords and tenants, with Commonwealth, state and territory governments, local government and financial institutions to consider mechanisms to provide assistance.

NSW Government Economic Stimulus Package 1

On 17 March 2020, the NSW Government announced a package to support businesses by lowering costs through tax cuts and fee reductions. These include:

• Waiver of payroll tax for businesses with payrolls of up to $10 million for the remainder of the 2019/20 financial year
• Bringing forward the next round of payroll tax cuts by raising the threshold limit to $1 million in 2020/2121 financial year
• Waiving a range of fees and charges for small businesses, including bars, cafés restaurants and tradies

NSW Government Health and Economic Stimulus Package 2

On 27 March 2020, the NSW Government announced further measures to support jobs and businesses in the fact of the COVID-19 pandemic. These include:

• The creation of a Working for NSW fund to sustain bsuiness, create new jobs and retrain employees
• Deferral of payroll tax for business with payrolls over $10 million for six months. Businesses with payrolls of $10 million or less receive a three-month waiver on payroll tax in the NSW Government's first package. These businesses will now get an additional three-month deferral as well. Check the website for the eligibility criteria
• Deferral of gaming machine tax for clubs, pubs and hotels for six months
• Deferral of duty on lotteries and keno for six months
• Deferral of the parking space levy for six months
• Deferral of rents for six months for commercial and not-for-profit tenants with less than 20 employees in all Government properties

NSW Government flexible long service leave changes

On 25 March 2020, the NSW Parliament passed changes to long service leave, which will create greater flexibility for employers and employees to access leave during the COVID-19 crisis. The legislation will have effect for six months, with the possibility of an extension to one year. Key amendments are:

• waiving the one-month notice period for taking leave (by mutual agreement between employee and employer)
• greater flexibility for employees to take this leave in shorter blocks if they wish (rather than traditional monthly blocks)

Black Summer Innovation Program

The Black Summer Innovation Program is a fund designed to help small and medium business who have been affected by events of national natural catastrophe or global outbreaks in 2019 or 2020. Grants of up to $25,000 are available to Australian food and agribusinesses that are affected by drought, flood, fire, African Swine Flu and coronavirus epidemic. Funding is designed to support these businesses to innovate to create commercial products, processes or services.