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Government Economic Stimulus

JobKeeper Payment ($1,500 per employee)

Summary

Under the JobKeeper Payment, businesses impacted by Covid-19 will be able to access a subsidy from the Government to continue paying their employees. Affected employers will be able to claim a fortnightly payment of $1,500 per eligible employee from 30 March 2020, for a maximum period of 6 months. To receive the JobKeeper Payment, employers must: Register an intention to apply on the ATO website and assess that they have or will experience the required turnover decline Provide information to the ATO on eligible employees. This includes information on the number of eligible employees engaged as at 1 March 2020 and those currently employed by the business (including those stood down or rehired). For most businesses, the ATO will use Single Touch Payroll data to pre-populate the employee details for the business. Ensure that each eligible employee receives at least $1,500 per fortnight (before tax). For employees that were already receiving this amount from the employer, they will continue to receive their regular income according to their prevailing workplace arrangements. For employees that have been receiving less than this amount, the employer will need to top up the payment to the employee up to $1,500 per fortnight, before tax. And for those employees earning more than this amount, the employer is able to provide them with a top-up. Notify all eligible employees that they are receiving the JobKeeper Payment. Continue to provide information to the ATO on a monthly basis, including the number of eligible employees employed by the business. Eligibility Employers will be eligible for the subsidy if they pass the basic turnover test: their business has a turnover of less than $1 billion and their turnover has fallen by more than 30% (of at least a month); or their business has a turnover of $1 billion or more and their turnover has fallen by more than 50% (of at least a month); and the business is not subject to the Major Bank Levy. However, if your business doesn't pass the test, you may still be eligible for the JobKeeper payment based on an alternative test, which is explained in detail on the ATO website .

Under the JobKeeper Payment, businesses impacted by Covid-19 will be able to access a subsidy from the Government to continue paying their employees.

Affected employers will be able to claim a fortnightly payment of $1,500 per eligible employee from 30 March 2020, for a maximum period of 6 months.

To receive the JobKeeper Payment, employers must:

  • Register an intention to apply on the ATO website and assess that they have or will experience the required turnover decline
  • Provide information to the ATO on eligible employees. This includes information on the number of eligible employees engaged as at 1 March 2020 and those currently employed by the business (including those stood down or rehired). For most businesses, the ATO will use Single Touch Payroll data to pre-populate the employee details for the business.
  • Ensure that each eligible employee receives at least $1,500 per fortnight (before tax). For employees that were already receiving this amount from the employer, they will continue to receive their regular income according to their prevailing workplace arrangements. For employees that have been receiving less than this amount, the employer will need to top up the payment to the employee up to $1,500 per fortnight, before tax. And for those employees earning more than this amount, the employer is able to provide them with a top-up.
  • Notify all eligible employees that they are receiving the JobKeeper Payment.
  • Continue to provide information to the ATO on a monthly basis, including the number of eligible employees employed by the business.

Eligibility

Employers will be eligible for the subsidy if they pass the basic turnover test:

  • their business has a turnover of less than $1 billion and their turnover has fallen by more than 30% (of at least a month); or
  • their business has a turnover of $1 billion or more and their turnover has fallen by more than 50% (of at least a month); and
  • the business is not subject to the Major Bank Levy.

However, if your business doesn't pass the test, you may still be eligible for the JobKeeper payment based on an alternative test, which is explained in detail on the ATO website.

Application Process

The deadline to enrol into the initial JobKeeper wage subsidy is 31st May 2020. If you enrol after 31st May, you will still be able to claim payment for April and May, provided you meet all the requirements.

Businesses with employees

  • Initially, employers can register their interest in applying for the JobKeeper Payment via ato.gov.au from 30 March 2020.
  • Subsequently, eligible employers will be able to apply for the scheme by means of an online application.
  • The first payment will be received by employers from the ATO in the first week of May.
  • Eligible employers will need to identify eligible employees for JobKeeper Payments and must provide monthly updates to the ATO.
  • Participating employers will be required to ensure eligible employees will receive, at a minimum, $1,500 per fortnight, before tax. It will be up to the employer if they want to pay superannuation on any additional wage paid because of the JobKeeper Payment.

Businesses without employees

  • Businesses without employees, such as the self-employed, can register their interest in applying for JobKeeper Payment via ato.gov.au from 30 March 2020.
  • Businesses without employees will need to provide an ABN for their business, nominate an individual to receive the payment and provide that individual’s Tax File Number and provide a declaration as to recent business activity.
  • People who are self-employed will need to provide a monthly update to the ATO to declare their continued eligibility for the payments.
  • Payment will be made monthly to the individual’s bank account.

Further details are provided on the ATO website for JobKeeper payment.

JobKeeper Payment ($1,500 per employee) JobKeeper Payment ($1,500 per employee) <p> Under the JobKeeper Payment, businesses impacted by Covid-19 will be able to access a subsidy from the Government to continue paying their employees. </p> <p> Affected employers will be able to claim a fortnightly payment of $1,500 per eligible employee from 30 March 2020, for a maximum period of 6 months. </p> <p> <strong>To receive the JobKeeper Payment, employers must: </strong> </p> <ul> <li>Register an intention to apply on the ATO website and assess that they have or will experience the required turnover decline</li> <li>Provide information to the ATO on eligible employees. This includes information on the number of eligible employees engaged as at 1 March 2020 and those currently employed by the business (including those stood down or rehired). For most businesses, the ATO will use Single Touch Payroll data to pre-populate the employee details for the business.</li> <li>Ensure that each eligible employee receives at least $1,500 per fortnight (before tax). For employees that were already receiving this amount from the employer, they will continue to receive their regular income according to their prevailing workplace arrangements. For employees that have been receiving less than this amount, the employer will need to top up the payment to the employee up to $1,500 per fortnight, before tax. And for those employees earning more than this amount, the employer is able to provide them with a top-up.</li> <li>Notify all eligible employees that they are receiving the JobKeeper Payment.</li> <li>Continue to provide information to the ATO on a monthly basis, including the number of eligible employees employed by the business.</li> </ul> <p> <strong>Eligibility </strong> </p> <p> <strong></strong>Employers will be eligible for the subsidy if they pass the basic turnover test: </p> <ul> <li>their business has a turnover of less than $1 billion and their turnover has fallen by more than 30% (of at least a month); or</li> <li>their business has a turnover of $1 billion or more and their turnover has fallen by more than 50% (of at least a month); and</li> <li>the business is not subject to the Major Bank Levy.</li> </ul> <p> However, if your business doesn't pass the test, you may still be eligible for the JobKeeper payment based on an alternative test, which is explained in detail on the <a href="https://www.ato.gov.au/General/JobKeeper-Payment/In-detail/JobKeeper-tests/Applying-the-turnover-test/?page=4">ATO website</a>. </p> P451 https://www.savvysme.com.au/marketplace/images/detailed/1/blob_98kh-ar.png
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QLD: Coronavirus payroll tax relief <p> You may be eligible for one or more of a range of payroll tax relief measures as a result of the impacts of coronavirus (COVID-19). </p> <p> These include: </p> <ul> <li>refunds of payroll tax for 2 months</li> <li>a payroll tax holiday for 3 months</li> <li>deferral of paying payroll tax for the 2020 calendar year.</li> </ul> <p> <strong>Eligibility:</strong><br /> If you are an employer (or part of a group of employers) who pays $6.5 million or less in Australian taxable wages, you may receive an email about a: </p> <ul> <li>refund of your payroll tax for 2 months</li> <li>payroll tax holiday (i.e. no payroll tax to be paid) for 3 months.</li> <li>You can also apply for a deferral of payroll tax for the 2020 calendar year. (If you have already applied for a deferral, you do not need not reapply – it will be extended.) If you do not receive an email, or you are unsure about your eligibility, complete the refund/holiday application form.</li> </ul> <p> If you are an employer (or part of a group of employers) who pays more than $6.5 million in Australian taxable wages and have been negatively affected (directly or indirectly) by coronavirus, you can apply for a: </p> <ul> <li>Deferral of payroll tax for the 2020 calendar year (If you have already applied for a deferral, you do not need not reapply – it will be extended.)</li> <li>Refund of your payroll tax for 2 months.</li> <li>A business is directly or indirectly affected by coronavirus if their current turnover, profit, customers, bookings, retail sales, supply contracts or other factors are negatively affected compared with normal operating conditions.</li> </ul> P432 0 2020-09-27
QLD: COVID-19 Jobs Support Loans (Up to $250,000) <p> The Queensland Government announced on Tuesday, 17 March a new $500 million loan facility, interest free for the first 12 months, to support Queensland businesses impacted by COVID-19 retain employees and maintain their operations. </p> <p> The $500 million concessional loan facility will comprise low interest loans of up to $250,000 for carry on finance with an initial 12-month interest free period for businesses to retain staff. </p> <p> The Queensland Rural and Industry Development Authority (QRIDA) is responsible for the administration of these concessional loans and is currently taking expressions of interest in the lead up to rolling these loans out as soon as possible. </p> P428 0 2020-09-27
QLD: Equipment purchase grants for agriculture, food and fishing exporters and supply chain partners (Up to $7,500) Equipment purchase grants of up to $7,500 (excluding GST) are available to support new equipment purchases up to a maximum cost of $10,000 (excluding GST).<br /><br />Applicants must contribute 25% of the total cost of the new equipment.<br /><br />The Market diversification and resilience grants (MDRG) program will provide the remaining 75% of total costs.<br /><br />For example, if the total equipment cost is $10,000 (excluding GST), the applicant will pay $2,500 and the MDRG program will pay $7,500 (excluding GST).<br /><br /><strong>Examples of eligible equipment purchases include, but are not limited to:</strong><ul><li>freezers</li><li>refrigerators</li><li>vacuum packaging machines</li><li>storage equipment</li><li>filleting machines.</li></ul> P433 0 2020-09-27
QLD: Project grants for agriculture, food and fishing exporters and supply chain partners (Up to $50,000) Project grants of up to $50,000 (excluding GST) will be available to support project activities including, but not limited to:<ul><li>market evaluation studies</li><li>market visits</li><li>staff training</li><li>new equipment such as refrigeration</li><li>boat modifications necessary to meet market requirements.</li></ul>Applicants must co-invest 50% of the total cost of their project activities or equipment purchases and should provide evidence of their contributions both in-kind (e.g. reasonable salary costs for key personnel, freight costs) and cash.<br /><br />Cash contributions must be at least 25% of total project costs. P434 0 2020-09-27
SA: $10,000 Emergency Cash Grant <p> If your business is based in South Australia, you may be eligible for a $10,000 grant to cushion the impact of the Covid-19 pandemic. </p> <p> This grant is open to small businesses and non-profit entities (that employ South Australian citizens) who have been hugely impacted by the social restrictions put in place to prevent the spread of Covid-19. </p> <p> This grant is part of the South Australian Government's $650 million Jobs Rescue package to keep people employed. </p> P487 0 2020-09-27
SA: Payroll tax waiver <p> The South Australian government announced that businesses with annual grouped wages of up to $4 million will get a 6-month payroll tax waiver to help survive the Covid-19 crisis. If you qualify, you won't have to pay payroll tax from April to September 2020. <span style="background-color: initial;">However, you must still lodge your payroll tax return but no payment is required. </span> </p> <p> For businesses with more than $4 million in annual grouped wages, you may qualify for a 6-month payroll tax deferral. You can apply for this when lodging your payroll tax return. </p> <p> Furthermore, the SA government also made legal amendments for JobKeeper payments to employees to be exempt from payroll tax. </p> P488 0 2020-09-27
Stay Safe with the CovidSafe App <p> The CovidSafe app by the Australian government makes contact tracing simpler and easier, keeping you and your loved ones safe. </p> <p> It is highly likely Covid-19 will be here to stay until a vaccine is found. The CovidSafe app helps people to slowly return to a normal life without restrictive lockdowns, while still keeping themselves and other Australians safe. It aids in contact tracing, to prevent outbreaks in the community and slow down the transmission of the disease. </p> <p> <strong>How does it work?</strong> </p> <p> Using the Bluetooth on your smartphone, it will alert you if you come in contact with someone who has been tested positive for Covid-19. Currently, contact tracing is done manually where healthcare workers have to trace all the people who came in contact with a person recently tested positive for Coronavirus. </p> <p> Those people will need to be alerted and asked to get tested or self-isolate in case they have also contracted the virus. This app will simplify and automate the process. </p> P491 0 2020-09-27
Supporting apprentices and trainees (Up to $21,000) If you employ an apprentice or trainee you may be eligible for a wage subsidy of 50 per cent of their wage paid from 1 January 2020 to 30 September 2020.<br /><br />You can register for the subsidy from early April 2020.<br /><br />The Government is supporting small business to retain their apprentices and trainees.<ul><li>Eligible employers can apply for a wage subsidy of 50 per cent of the apprentice’s or trainee’s wage paid during the 9 months from 1 January 2020 to 30 September 2020. Where a small business is not able to retain an apprentice, the subsidy will be available to a new employer. </li><li>Employers will be reimbursed up to a maximum of $21,000, per eligible apprentice or trainee ($7,000 per quarter).</li></ul>Support will also be provided to the National Apprentice Employment Network, who are responsible for coordinating the re‑employment of displaced apprentices and trainees throughout their network of host employers across Australia.<br /><br /><strong>Eligibility</strong><br />The subsidy will be available to small businesses employing fewer than 20 full‑time employees who retain an apprentice or trainee. Employers of any size and Group Training Organisations that re‑engage an eligible out‑of‑trade apprentice or trainee will be eligible for the subsidy. The apprentice or trainee must have been in training with a small business as at 1 March 2020.<br /><br />Employers will be able to access the subsidy after an eligibility assessment is undertaken by an Australian Apprenticeship Support Network (AASN) provider. <br /><br />This measure will support up to 70,000 small businesses, employing around 117,000 apprentices.<br /><br /><strong>Timing</strong><br />Employers can register for the subsidy from early April 2020. Final claims for payment must be lodged by 31 December 2020.<br /><br />For further information on how to apply for the subsidy, including information on eligibility, contact an Australian Apprenticeship Support Network (AASN) provider. P429 0 2020-09-27
TAS: Interest-Free Business Loans <p> The Tasmanian Government has allocated $20 million in interest-free loans to small businesses in the hospitality, tourism, seafood production, exports sectors, and other businesses that have been severely affected by the Covid-19 pandemic. </p> <p> The loans will be available to businesses with a turnover of less than $10 million for business continuity, equipment purchase, improving online shopping and distribution channels, and other sustainability and viability measures. </p> <p> The loan amount starts from $20,000 up to a maximum of $250,000, and is interest free for the first 3 years. </p> P445 0 2020-09-27
TAS: Payroll Tax Waiver <p> <strong>Employers in the Hospitality, Tourism, and Seafood industries will not be required to lodge payroll tax returns for March, April and May 2020.</strong> </p> <p> The Annual Adjustment Return (AAR) for 2019-20 is still required to be lodged by 21 July 2020. For that AAR, the State Government’s recently-announced waiver of payroll tax for relevant wages for the months of March, April, May and June will apply. </p> <p> <strong>Employers (individual/groups) with Australian Group Wages of up to $5.0 million annually</strong> </p> <ul> <li>Approved applicants (who demonstrate that their business is affected by Coronavirus) will not be required to lodge payroll tax returns for March, April and May 2020.</li> <li>The Annual Adjustment Return (AAR) for 2019-20 is still required to be lodged by 21 July 2020. For that AAR, the State Government’s recently-announced waiver of payroll tax for relevant wages for the months of March, April and May will apply.</li> <li>One-year rebate for employers who pay payroll tax and employ new youth employees aged 24 years and under.</li> <li>The Commissioner of State Revenue will administer the Rebate Scheme recently announced by the State Government.</li> <li>The Commissioner will issue more details directly to employers, including eligibility criteria and the application process, in due course.</li> </ul> P446 0 2020-09-27
TAS: Targeted Small Business Grants Program for Apprenticeships and Traineeships (Up to $5,000) <p> This grant provides subsidies to small businesses in building, construction, tourism, hospitality and manufacturing if they hire a new apprentice or trainee. </p> <p> Subsidies of up to $5,000 are provided for each apprentice or trainee employed on a full-time basis, and $2,500 for each apprentice or trainee employed on a part-time basis. </p> <p> Subsidies are provided in two equal payments 6 months and 12 months after the commencement of the training contract of the new apprentice or trainee. </p> <p> <strong>To be eligible, you must:</strong> </p> <ul> <li>undertake activity in one of the nominated target industries as your main business activity</li> <li>not be liable to pay Payroll Tax to the Commissioner of State Revenue for the individual apprentice or trainee within the financial year that the application is lodged</li> <li>employ the apprentice or trainee in a workplace physically located in Tasmania</li> </ul> P447 0 2020-09-27
Temporary Relief for Financially Distressed Businesses <p> There is a temporary increase to the threshold at which creditors can issue a statutory demand on a company and the time companies have to respond to statutory demands they receive. </p> <p> This includes temporary relief for directors from any personal liability for trading while insolvent, and providing temporary flexibility in the Corporations Act 2001 to provide temporary and targeted relief from provisions of the Act. </p> <p> <strong>What are the elements of the temporary relief package?</strong> </p> <ul> <li>A temporary increase in the threshold at which creditors can issue a statutory demand on a company and the time companies have to respond to statutory demands they receive.<br /> </li> <li>A temporary increase in the threshold for a creditor to initiate bankruptcy proceedings, an increase in the time period for debtors to respond to a bankruptcy notice, and extending the period of protection a debtor receives after making a declaration of intention to present a debtor’s petition.<br /> </li> <li>Temporary relief for directors from any personal liability for trading while insolvent, providing temporary flexibility in the Corporations Act 2001 to provide targeted relief for companies from provisions of the Act to deal with unforeseen events that arise as a result of the coronavirus health crisis.<br /> </li> <li>The Australian Taxation Office (ATO) will tailor solutions for owners or directors of businesses that are currently struggling due to the coronavirus, including temporary reduction of payments or deferrals, or withholding enforcement actions including Director Penalty Notices and wind-ups.<br /> </li> <li>Temporary higher thresholds and more time to respond to demands from creditors.<br /> </li> <li>A creditor issuing a statutory demand on a company is a common way for a company to enter liquidation. The Government is temporarily increasing the current minimum threshold for creditors issuing a statutory demand on a company under the Corporations Act 2001 from $2,000 to $20,000. This will apply for 6 months.<br /> </li> <li>Not responding to a demand within the specified time creates a presumption that the company is insolvent. The statutory time frame for a company to respond to a statutory demand will be extended temporarily from 21 days to 6 months. This will apply for 6 months.<br /> </li> <li>To assist individuals, the Government will make a number of changes to the personal insolvency system regulated by the Bankruptcy Act 1966. The threshold for the minimum amount of debt required for a creditor to initiate bankruptcy proceedings against a debtor will temporarily increase from its current level of $5,000 to $20,000. This will apply for 6 months.<br /> </li> <li>Failure to respond to a bankruptcy notice is the most common act of bankruptcy. The time a debtor has to respond to a bankruptcy notice will be temporarily increased from 21 days to 6 months. The extension will give a debtor more time to consider repayment arrangements before they could be forced into bankruptcy. This will apply for 6 months. When a debtor declares an intention to enter voluntary bankruptcy by making a declaration of intention to present a debtor’s petition there is a period of protection when unsecured creditors cannot take further action to recover debts. This period will be temporarily extended from 21 days to 6 months. This will give debtors more time to consider the options that are best for them. This will apply for 6 months. Creditors, many of whom are themselves small businesses, will still have the right to enforce the debt against companies or individuals through the courts.<br /> </li> <li>Temporary relief from directors’ personal liability for trading while insolvent.<br /> </li> <li>Directors are personally liable if a company trades while insolvent. This can lead to boards of directors feeling under pressure to make quick decisions to enter into an insolvency process if there is any risk that the company will experience periods where it will be trading while insolvent. To make sure that companies have confidence to continue to trade through the coronavirus health crisis with the aim of returning to viability when the crisis has passed, directors will be temporarily relieved of their duty to prevent insolvent trading with respect to any debts incurred in the ordinary course of the company’s business. This will relieve the director of personal liability that would otherwise be associated with insolvent trading. It will apply for six months. <br /> </li> <li>Temporary relief from personal liability for insolvent trading will apply with respect to debts incurred in the ordinary course of the company’s business. Egregious cases of dishonesty and fraud will still be subject to criminal penalties. Any debts incurred by the company will still be payable by the company.</li> </ul> P430 0 2020-09-27
VIC: $10,000 Business Support Fund <p> As part of the Victorian Government's $500 million Business Support Fund, businesses severely impacted by the Covid-19 lockdown can receive a $10,000 cash grant to help with running expenses, hiring professional help, marketing and to keep the business afloat. </p> <p> This grant is for businesses that employ staff and are in industries such as: </p> <ul> <li>Accommodation</li> <li>Food services (restaurant, cafe, caterers,etc.)</li> <li>Health and beauty services (hairdressers, spa, therapists)</li> <li>Sports and recreation services (gym, pool, etc.)</li> <li>Tourism</li> <li>Retail (except for supermarket, groceries, pharmacies, etc.)</li> <li>Other services </li> </ul> P481 0 2020-09-27
VIC: Economic Survival and Jobs Package <p> As part of a $1.7 billion economic survival package, the Victorian Government has allocated $500 million to establish a Business Support Fund to assist small to medium businesses most impacted by COVID-19. </p> <p> The Victorian Government will work with the Victorian Chamber, Australian Hotels Association and Ai Group to administer the funds to help businesses survive and keep people in work. </p> P431 0 2020-09-27
VIC: Payroll Tax Waiver <p> Victorian businesses with a yearly taxable salaries of $3 million max will have their payroll tax waived for the financial year 2019/2020. </p> <p> If you have paid your payroll tax, you can claim a reimbursement from the State Revenue Office of Victoria. </p> <p> These businesses can also defer paying payroll tax for the first quarter of the 2020-21 financial year. </p> P482 0 2020-09-27
WA: One-off grants to small and medium businesses ($17,500) Small and medium businesses whose annual Australian Taxable Wages are between $1 million and $4 million will receive a one-off grant of $17,500 to assist them to manage the impacts of COVID-19.<br /><br />It is expected 6,200 WA businesses will benefit from the grant.<br /><br />If you were not previously registered for payroll tax, your 2019-20 Australian taxable wages will be used to determine your eligibility for the grant. <br /><br />Your grant will automatically be paid by cheque at the completion of the annual reconciliation process.   <br /><br />For a group of employers, a single grant will be payable to the designated group employer.<br /><br /><strong>Details</strong><ul><li>No applications are required.</li><li>Grants will automatically be paid from July 2020, but there may be delays for taxpayers whose tax status changed during the 2018-19 assessment period or who commenced as new employers in 2018-19 and 2019-20.</li></ul> P449 0 2020-09-27
WA: Payroll tax waiver Payroll tax will be waived from March to June 2020 for employers, or groups of employers, whose Australian taxable wages are less than $7.5 million at 30 June 2020.<br /><br />Employers must retain evidence of their Australian taxable wages at 29 February 2020 showing their entitlement to claim the waiver.<br /><br />For group employers, the designated group employer (DGE) is responsible for determining the group’s Australian taxable wages and for notifying group members if the group is eligible for the waiver.<br /><br />Group members must retain evidence to show the DGE notified them of their eligibility to claim the waiver.<br /><br />The Treasurer encourages eligible businesses not negatively affected by COVID-19 to keep paying tax as normal so the funds allocated to this initiative can be used to assist other businesses that are not so fortunate. P450 0 2020-09-27
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