For Businesses

JobKeeper Extension

The JobKeeper Payment, which was originally due to run until 27 September 2020, will continue to be available to eligible businesses (including the self-employed) and not-for-profits until 28 March 2021.

For a summary of the upcoming changes please refer to treasury.gov.au/coronavirus/jobkeeper/extension.

JobKeeper Payment 

The Government’s JobKeeper Payment is a temporary subsidy for businesses significantly affected by coronavirus (COVID-19).

Eligible employers, sole traders and other entities can apply to receive JobKeeper payments for their eligible employee. This will be paid to the employer in arrears each month by the ATO.

Businesses can enrol for the JobKeeper Payment through the ATO's Business Portal, in ATO online services using myGov if you are a sole trader, or through a registered tax or BAS agent.

For information about existing JobKeeper support and assistance available from the ATO go to www.ato.gov.au/JobKeeper.

Ensuring cash flow to pay bills and wages 

Eligible businesses and not-for-profit (NFP) organisations that employ staff will receive between $20,000 to $100,000 in cash flow boost amounts by lodging their activity statements up to the month or quarter of September 2020.

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: