Businesses and Employers receive government assistance

Go to Website: treasury.gov.au/coronavirus/businesses

Businesses and Employers receive Government assistance to help business withstand the impact of the coronavirus and encourage an economic recovery into the future.

The temporary assistance measures include:

a wage subsidy to help you retain employees
help to manage cash flow
a wage subsidy for apprentices and trainees
a safety net for companies facing financial distress
a time-limited asset investment incentive
and credit and loans

JobKeeper Payment

The Government’s JobKeeper Payment will help keep more Australians in jobs and support businesses affected by the significant economic impact of the coronavirus.

Under the wage subsidy scheme, workers will receive a fortnightly payment of $1,500 (before tax) through their employer.

Businesses and Employers, ensuring cash flow to pay bills and wages

Temporary cash flow payments up to $100,000 are available to keep eligible small to medium-sized businesses operating, paying your bills and retain staff.

Apprentices and trainees

The government is supporting the continued development of Australia’s skilled workforce and helping eligible businesses retain apprentices and trainees by offering a 50 per cent wage subsidy.

Businesses and employers in financial distress

During this difficult time otherwise profitable and viable businesses face temporary financial distress.

It is important that these operators have a safety net to make sure that when the crisis has passed they can resume normal operations.

A safety net will apply to lessen the threat of actions that could unnecessarily push your business to being wound up or forced into insolvency or bankruptcy during this time.

Hunter Partners are Accountants, Tax Agents and Financial Planners. We can assist you with all aspect of your accounting, tax and financial planning requirements, call Hunter Partners on (07) 4723-1223.