Last updated: 1 April 2020

 

Commonwealth measures

 

Updated: JobKeeper and Jobseeker wage subsidies for employers and employees. 

 

Members should refer to this link for further information on Commonwealth measures

 

  • The Government is providing up to $100,000 to eligible small and medium-sized businesses, and not-for-profits (NFPs) that employ people, with a minimum payment of $20,000.
  • All co-ops and mutuals (for-profit, not-for-profit, charitable) that employ people and have turnover under $50 million are eligible.
  • The Government has amended the Corporations Act and Regulations to lessen the threat of actions that could unnecessarily push corporations into insolvency and force the winding up of the business.
  • These changes impact when statutory demands by creditors can be made, when directors are liable for trading insolvent. They flow through to co-operatives registered under Co-operatives National Law alongside co-operative and mutual companies. Contact BCCM if you need further information on this.
  • Under the Coronavirus SME Guarantee Scheme, the Government will provide a guarantee of 50 per cent to SME lenders to support new short-term unsecured loans to SMEs.
  • The Minister has powers to sets eligibility. Business.gov.au’s information states the turnover limit will be $50 million. Contact BCCM immediately if you have feedback or queries about the eligibility criteria in relation to your co-op or mutual, or your members.
  • The Government is increasing the instant asset write-off threshold from $30,000 to $150,000 and expanding access to include businesses with aggregated annual turnover of less than $500 million (up from $50 million) until 30 June 2020.
  • Co-op and mutual businesses under the turnover threshold can use this.
  • The Government is introducing a time-limited 15 month investment incentive (through to 30 June 2021) to support business investment and economic growth over the short term, by accelerating depreciation deductions. Businesses with a turnover of less than $500 million will be able to deduct 50 per cent of the cost of an eligible asset on installation, with existing depreciation rules applying to the balance of the asset’s cost.
  • Co-op and mutual businesses under the turnover threshold can use this.
  • The Government is supporting small business to retain their apprentices and trainees.Eligible employers can apply for a wage subsidy of 50 per cent of the apprentice’s or trainee’s wage for 9 months from 1 January 2020 to 30 September 2020. If a small business cannot retain an apprentice or trainee, the subsidy can be offered to another business of any size to take on the person.
  • Co-op and mutual businesses employing fewer than 20 employees and who retain an apprentice or trainee can use this.
  • The Government will set aside $1 billion to support regions most significantly affected by the Coronavirus outbreak.
  • Let BCCM know if your region needs support so we can advocate this to government.
  • $130 billion JobKeeper program will provide a subsidy of $1500 per fortnight to allow businesses significantly impacted by COVID-19 to retain staff
  • All co-ops and mutuals (for-profit, not-for-profit, charitable) are potentially eligible, provided they have eligible employees and can demonstrate reduction in revenue of at least 30% (organisations with turnover less than $1 billion) or 50% (organisations with turnover above $1 billion). (View the info sheet for employers
  • National Cabinet agreed in principle to a 6-month moratorium on eviction for non-payment of rent due to coronavirus in commercial tenancies.
  • States and territories are responsible for tenancy laws, so will need to implement this nationally-agreed policy.
  • View the national cabinet statement 

 

Key measures in NSW

  • Payroll tax deferred for 6 months for businesses (previously only businesses with payroll under $10 million).
  • Payroll tax threshold for next financial year will be raised to $1 million.
  • Waiver of $80 million in licensing and regulatory fees (e.g. for cafes)
  • the creation of a $1 billion Working for NSW fund to sustain business, create new jobs and retrain employees (includes some previously announced funding for additional cleaning).
  • deferral of gaming tax for clubs, pubs and hotels, and lotteries tax for six months, conditional on these funds being used to retain staff.
  • deferral of the parking space levy for six months
  • deferral of rents for six months for commercial tenants with less than 20 employees in all Government-owned properties.
  • View the media release

 

Key measures in Victoria

  • $500 million business support fund for small and medium businesses
  • Full refund for businesses with payroll under $3 million for 2019-20, and deferrals for first three months of 2020-21.
  • Land tax payment deferrals.
  • Waivers of liquor licencing fees.

 

Key measures in Queensland

  • Up to $250,000 interest-free business loans to be made available to local businesses to retain employees.
  • Payroll tax refunds and deferral for both SMEs (less than $6.5 million payroll) and larger businesses available.
  • $500 electricity rebate for certain SMEs
  • $500 million in worker retraining funding
  • Supply chain support to access goods and services
  • Waiving of liquor licensing fees
  • $1 billion Industry Support Package for large employers who can make a contribution to a rapid response in the economy as conditions improve. Large businesses are requested to contact Queensland Treasury for further information: COVID19ISP@treasury.qld.gov.au

 

Key measures in Western Australia

  • One off grants of $17,500 for businesses with payroll between $1 million and $4 million
  • Payroll tax exemption changes are being brought forward, threshold will move up from $850,000 to $950,000
  • Business with payroll of less than $7.5 million can defer payment until July 21 2020

 

Key measures in South Australia

  • Expanded funding for Economic and Business Growth Fund
  • $300 million Business and Jobs Support Fund targeting individual businesses and sectors heavily affected
  • $250 million Community and Jobs Support Fund, open to not-for-profits
  • 6 month waiver for businesses with payroll under $4 million
  • On application, businsess with payoll over $4 million can get a 6 month deferral of payroll tax payments.
  • Planned land tax reforms have been enhanced
  • View the media release

 

Key measures in Tasmania

  • $50 million in interest-free loans to hospitality, tourism, seafood and export sectors for businesses with turnover under $10 million
  • $40 million small business grants program, with $20 million for emergency $2500 cash payments.
  • Digital Ready for Business Program
  • Payroll tax waiver for hospitality, tourism, seafood and export busineses for the entire 2019-20 year. Other business with payrolls up to $5 million may apply.
  • Planned $5000 grants for businesses to hire apprentices in tourism, hospitality, building and manufacturing brought forward
  • $2 million for sports clubs and associations
  • Waiving or freezing of various fees and taxes for eligible businesses, including water and electricity bills, heavy vehicle tax, fisheries and taxis.
  • $2.6 million to support air freight services
  • $6.3 million to provide up to $3000 to individuals for retraining or licensing for new jobs.
  • View the media release

 

Key measures in Northern Territory

  • $20 million towards grants of $10000 for businesses, plus a second matched funding grant of $10000 for those willing and able
  • $50 million business survival fund overseen by a board of local business leaders
  • $5 million for community and NFP sector works projects grants
  • Extension of existing payroll exemptions for local employment

 

Key measures in ACT

  • Waiving of some licensing fees
  • $750 electricity rebates for certain small businesses and commercial rates payers may be eligible for a credit of up to $2,622
  • All ACT business with payroll up to $10 million can defer 2020-21 payroll tax interest free until 1 July 2022.

 

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