Coronavirus (COVID-19) Resources

Summary For Businesses

  • Victorian Government Assistance:

    • The third round of the business support fund. Grants of up to $30,000 will be available for eligible businesses. You can apply on the Business Victoria website from the 18th of September.
    • Payroll tax for businesses with payrolls up to $10 million deferred for the full 2020-21 financial year.
    • Waiving of liquor licensing fees for 2021 for affected venues and small businesses.
    • Vacant Residential Land Tax waived for properties that are vacant in 2020.
  • Federal Government Assistance:

    • Increase in the instant asset write off threshold | The Federal 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 31 December 2020. From 1 July 2020 a 50% deduction of the cost of new eligible assets.
    • Payments to employers | A cash flow boost for employers up to $100,000 and minimum $20,000 over the next six months.
    • Support for employers with apprentices or trainees | Eligible employers can apply for a wage subsidy of 50% of the apprentice’s or trainee’s wage for up to 9 months from 1 January 2020 to 30 September 2020 with a maximum of $7,000 per apprentice or trainee per quarter, for three quarters.
    • Support for sectors, regions and communities affected by the Coronavirus | $1 billion to support those sectors, regions and communities that have been disproportionately affected by the economic impacts of the Coronavirus, including those heavily reliant on industries such as tourism, agriculture and education.

    JobKeeper Payments

    • JobKeeper payments have been extended until 28 March 2021 with some changes to payment rates and eligiblity.

     

  • Links to more information from external resources

    Information about Government Support

Recent posts by the Asparq Team

JobMaker Hiring Credit Scheme

0 comments

Business Survival and Adaptation Package

0 comments

Latest Changes to JobKeeper

Metropolitan Melbourne Stage 4 Restrictions



Need Assistance?

Contact Asparq Today