Quick reference guide for support available for small to medium businesses , QLD.
Quick reference guide for support available for small to medium businesses
Payroll tax relief package: If you're an employer (or part of a group of employers) who pays$6.5 million or less in Australian
taxable wages, you may be eligible for a refund of your payroll taxfor two months, payroll tax holiday (i.e. no payroll tax to be paid) for three months or a deferral of payroll tax for the 2020 calendar year.
Temporary relief for financially distressed businesses: The Australian Government is temporarily increasing thethreshold at which creditors can issue a statutory demand.
SME power bill relief: Small and mediumbusinesses may be eligible for a $500 rebate off their energy bill.
Commercial tenancies: Reliefmeasures for commercial tenants and landlords. A mandatory
Code of Conduct has been developed by NationalCabinet.
Commercial and residential tenancies: Evictions will be put on hold over the next six monthsfor commercial and residential tenancies in financial distress, who are unable to meet their commitments due to the impact of the COVID-19.
Any small business impacted by COVID-19 can now contact the
Rural Financial Counselling Service in thefollowing areas:
Boosting cash flow: Temporary cash flow support to small and medium businesses through two sets of cashflow boosts to support employers to retain employees. Support will be provided via tax-free cash flow boosts of between $20,000 and $100,000.
Coronavirus SME Guarantee Scheme: The Australian Government willprovide a guarantee of 50% to support short-term loans.
The Australian Government's JobKeeper package offers a subsidy of up to $1500 per fortnight per employee to keep eligible businesses paying their staff. Employers and sole traders can register their interest in this program with the
Australian Tax Office.
Supporting apprentices and trainees: Eligible employers can apply for a wage subsidy of 50% of theirapprentice’s or trainee’s wage paid during 1 January 2020 to 30 September 2020.
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