The Scott Morrison government has now released 3 economic stimulus packages since March 12th, totalling $213.7B to keep Aussies in jobs, businesses in business and households supported. Of that, billions are being invested to create incentives to encourage businesses to spend.
Where is this money going, and how will it benefit you?
Asset Write-Off: All small, medium and larger businesses in Australia with a turnover of up to $5 billion a year will be eligible for tax write-offs of all assets up to $150,000 until June 30, 2022. Read more.
JobKeeper Program: Eligible businesses will be able to claim a fortnightly payment of $1,500 per eligible employee from 30th March 2020, for a six-month period.* As of 21st July 2020, the Government has announced an extension of the JobKeeper Payment until 28th March 2021, specifically targeted to employers who continue to be affected by Coronavirus. Read more about this here.
Energy Bills: Energy providers have been asked to assist businesses affected by COVID-19. Offers from providers will vary. Read more here.
Trade Mark COVID-19 Helpline: If you have an opportunity to explore different goods and services to those currently covered under your registered trade marks, then IP Australia are here to help you. Read more.
Aus Export Assistance: For export businesses that have been affected by COVID-19 and require financial assistance. Read More.
Free Financial Counselling: For eligible regional small businesses affected by COVID-19. Read more here.