Rent relief for commercial tenants
 Last updated 07 April

What is it?

To support commercial tenants affected by coronavirus, the government announced new rental waivers and deferrals. Landlords cannot terminate leases or drawing on a tenant’s security while tenants must remain committed to the terms of your lease.

The waivers must constitute for at least 50% of the reduction and rental deferrals must be spread over the remaining time of the lease term and for at least 2 years.

Eligibility

• Businesses with annual turnover of up to $50 million
• Eligible for the JobKeeper Payment

When

From 3 April 2020 for the period during the JobKeeper Program remains operational

Fact Sheet

 Rent relief package

 JobKeeper Payment for employers and employees
 Last updated 31 March

What is it?

The JobKeeper wage subsidy allows businesses impacted by COVID-19 have access to $1,500 (before tax) fortnightly payments for each full-time or part-time staff members up to 6 months so that they can retain their employees.

Eligible employers

• Businesses with annual turnover of under $1 billion that have dropped over 30% in turnover because of the coronavirus.
• Businesses with annual turnover of $1 billion or more will be eligible if their turnover have dropped over 50%.
• The business is not subject to the Major Bank Levy.
• Not-for-profits, sole traders and self-employed people will also be eligible if they meet the requirements above.

Eligible employees

• The subsidy will be available for employees over 16 years old who were on an employer’s books as at 1 March 2020.
• It applies to full-time, part-time and casual employees who have been employed at least for 12 months, as of March 1 2020.
• Employees can only receive the JobKeeper payment from one employer.
• The JobKeeper payment is not available for employees on temporary visas.

How to claim

• Businesses can register your interest to apply the JobKeeper Payment via ATO
• Businesses have to identify eligible employees and provide monthly updates to ATO
• Businesses without employees (e.g. self-employed) need to provide ABN, individual TFN and a declaration about recent business activity

When the payment start?

Businesses are expected to receive the first payment in the first week of May 2020, however they will be backdated to 30 March 2020.

Fact Sheet

 JobKeeper Payment for small businesses, including sole traders

Boosting cash flow for employers
 Last updated 03 April

What is it?

The government is providing $20,000 to $100,000 tax-free cash flow support to eligible businesses so they can keep operating, pay their rent, electricity and other bills and retain staff.

Eligibility

• Small or medium business entity, including not-for-profits, sole traders, partnership, company or trust with an aggregated annual turnover under $50 million (generally based on prior year turnover) will be eligible
• Held an ABN on 12 March 2020 and continues to be active
• Made eligible payments you are required to withhold from (even if the amount you need to withhold is zero)

How to apply?

You DON’T need to apply as the payment will be automatically calculated by ATO.

When can you receive it?

You can expect the first wave payments from 28 April 2020, and the additional payments from 21 July 2020.

Fact Sheet

 Cash flow assistance for business

Supporting apprentices and trainees
 Last updated 02 April

What is it?

To help small businesses retain apprentices and trainees, the government is offering a wage subsidy of 50% of their wages for 9 months from January 1 to September 30, 2020.

Eligibility

Businesses with less than 20 employees will be eligible to reimburse up to a maximum of $21,000 per apprentice or trainees ($7,000 per quarter).

When to apply?

Businesses can claim from early April 2020 and final claims must be lodged by 31 December 2020.

How to apply?

Contact an Australian Apprenticeship Support Network (AASN) provider.

Fact Sheet

 Supporting apprentices and trainees

 Temporary relief for financially distressed businesses
 Last updated 25 March

What is it?

The government temporarily increasing the threshold to $20,000 and more time to respond to demands from creditors. Temporary relief will also be available from directors’ personal insolvent trading liability.

How to apply?

You DON’T need to apply as ATO will tailor solutions for your circumstances.

When

These relief measures will apply for 6 months.

Fact Sheet

 Temporary relief for financially distressed businesses.

 Enhancing the instant asset write-off
 Last updated 02 April

What is it?

To provide cash flow benefits for businesses, the government has been increased the instant asset write-off threshold from $30,000 to $150,000 and extended to businesses with turnover less than $500 million.

Eligibility

• Businesses with an aggregated turnover of less than $500 million (up from $50 million)
• The date business purchased the asset and it was first used or installed ready for use
• The cost of each asset being less than the threshold.

When does it apply?

This applies from 12 March 2020 until 30 June 2020, for new or second-hand assets first used or installed ready for use in this timeframe.

Fact Sheet

 Delivering support for business investment.

 Accelerated depreciation
 Last updated 02 April

What is it?

To support business investment and economic growth, the Government is offering a time limited 15 month investment incentive by accelerating depreciation deductions.

Eligibility

• Businesses with an aggregated turnover of less than $500 million
• Businesses purchased certain new depreciable assets

When does it apply?

This applies to first used or installed ready for use assets immediately until 30 June 2021.

Fact Sheet

 Backing business investment.