Financial and Business Support

Find out more information below about the State and Federal Governments financial and economic stimulus measures available in response to COVID-19.

COVID Safe Businesses - Frequently asked questions:
https://www.covid19.qld.gov.au/__data/assets/pdf_file/0024/127653/COVID-Safe-FAQ.pdf

Immediate increased asset write-off:
https://www.business.gov.au/Risk-management/Emergency-management/Coronavirus-information-and-support-for-business/Increasing-the-Instant-Asset-Write-Off

Unpaid Pandemic Leave: 
https://coronavirus.fairwork.gov.au/coronavirus-and-australian-workplace-laws/temporary-changes-to-workplace-laws-during-coronavirus/unpaid-pandemic-leave-annual-leave-changes-in-awards

Backing Business Investment:
https://www.business.gov.au/Risk-management/Emergency-management/Coronavirus-information-and-support-for-business/Backing-Business-Investment

Secured loans for businesses: 
https://www.business.gov.au/Risk-management/Emergency-management/Coronavirus-information-and-support-for-business/Supporting-the-flow-of-credit

Increasing Instant Asset Write-Off: 
https://www.business.gov.au/Risk-management/Emergency-management/Coronavirus-information-and-support-for-business/Increasing-the-Instant-Asset-Write-Off

Increasing the Instant Asset Write-Off

The instant asset write-off threshold 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.

The threshold has been increased from $30,000 to $150,000 and expanded access to include businesses with aggregated annual turnover of less than $500 million (up from $50 million).

Has your award changed due to COVID-19?
https://coronavirus.fairwork.gov.au/coronavirus-and-australian-workplace-laws/temporary-changes-to-workplace-laws-during-coronavirus

 

JobKeeper:
https://www.ato.gov.au/General/JobKeeper-Payment/Employers/

JobKeeper applications open for 1 more week!

The subsidy started on 30 March 2020, with the first payments received the first week of May.

The time to enrol for the initial JobKeeper periods has been extended from 30 April 2020 until 31 May 2020.

If you enrol by 31 May, you will still be able to claim for the fortnights in April and May, provided you meet all the eligibility requirements for each of those fortnights. This includes having paid your employees by the appropriate date for each fortnight.

How to apply for JobKeeper

You can enrol in the JobKeeper scheme on the ATO website using an online form.

After you enrol, you will need to identify your specific eligible employees and submit the information to the ATO. 

https://www.ato.gov.au/general/jobkeeper-payment/employers/enrol-for-the-jobkeeper-payment/?=redirected_URL

Please talk with your accountant and/or financial advisor as soon as possible as they can assist you with the application process.

 

Payroll Tax Relief:
https://www.business.qld.gov.au/running-business/employing/payroll-tax/lodging/coronavirus-tax-relief

Cash Flow for Employers:
https://www.ato.gov.au/Business/Business-activity-statements-(BAS)/In-detail/Boosting-cash-flow-for-employers/

Immediate increased asset write-off:
https://www.business.gov.au/Risk-management/Emergency-management/Coronavirus-information-and-support-for-business/Increasing-the-Instant-Asset-Write-Off

Unpaid Pandemic Leave:
https://coronavirus.fairwork.gov.au/coronavirus-and-australian-workplace-laws/temporary-changes-to-workplace-laws-during-coronavirus/unpaid-pandemic-leave-annual-leave-changes-in-awards