For Businesses 

JobKeeper Payment 

The Government’s JobKeeper Payment will help keep more Australians in jobs and support businesses affected by the significant economic impact of the coronavirus.

Under the wage subsidy scheme, workers will receive a fortnightly payment of $1,500 (before tax) through their employer.

Sole traders can apply for JobKeeper payments in ATO online services accessed through their myGov account. 

Businesses and not-for-profit organisations can apply for JobKeeper payments in the Business Portal accessed using their myGovID app (this is different to myGov). 

Ensuring cash flow to pay bills and wages 

Temporary cash flow payments up to $100,000 are available to keep eligible small to medium-sized businesses operating, paying your bills and retain staff. 

Find out more: 

Apprentices and trainees 

The government is supporting the continued development of Australia’s skilled workforce and helping eligible businesses retain apprentices and trainees by offering a 50 per cent wage subsidy up to $21,000. 

Find out more: 

Credit and loans 

A new Coronavirus SME Guarantee Scheme means you may be able to access additional loans from participating lenders to support you through the coming months. 

The Government will provide a guarantee of 50 per cent to SME lenders for new unsecured loans to be used for working capital. 

The Government is also providing an exemption from responsible lending obligations for lenders providing credit to existing small business customers. 

This exemption is for six months and applies to any credit for business purposes, including new credit, credit limit increases and credit variations and restructures. 

Supporting regions and sectors 

The Government has set aside $1 billion to support communities, regions and industries most significantly affected by the Coronavirus outbreak. These funds will be available to assist during the outbreak and to help with the recovery. In addition, the Government is assisting our airline industry through a package of up to $715 million. 

Investing in your business 

The instant asset write-off threshold has been increased from $30,000 to $150,000 for businesses with an aggregated annual turnover of less than $500 million. 

Whether you are purchasing new equipment for your warehouse or a second hand tractor, your business may benefit from the increased and expanded instant asset write-off until 31 December 2020. 

Accelerated depreciation deductions will also be available for eligible businesses via a 15-month investment incentive initiative. 

Find out more: 

Instant asset write-off for eligible businesses

Backing business investment – accelerated depreciation 

See also: