Understanding the federal government's stimulus package, state government incentives and council grants can be difficult and time consuming in this stressful period.
To answer the questions like, where do I find the information? Am I eligible? How will it help my business? Do I need to spend to get these funds?; refer to the tables below to get a snapshot of what financial help is available to you through federal, states and councils:
Federal
| What it’s for |
Funds available |
Eligibility & More info |
| JobKeeper Payment |
$1,500 fortnightly per employee |
Federal Gov |
| Increasing the Instant Asset Write-Off |
Deduct purchases of eligible assets each costing less than $150,000 |
Federal Gov |
| Temporary relief for financially distressed businesses |
Increase from $2,000 to $20,000 |
Federal Gov |
| Loan guarantee of 50 per cent to small and medium enterprise (SME) lenders for new unsecured loans to be used for working capital. |
Maximum total size of loans of $250,000 per borrower |
Federal Gov |
ACT
| What it’s for |
Funds available |
Eligibility & More info |
| 12-month waiver of their food business registration and liquor licencing fees |
Fee waiver |
ACT Gov |
| Six-month payroll tax waiver |
Tax waiver |
ACT Gov |
| Payroll tax deferral |
Tax deferral |
ACT Gov |
| Electricity bill relief |
$750 rebate |
ACT Gov |
NSW
| What it’s for |
Funds available |
Eligibility & More info |
| Grant - Operating model change, Online and e-commerce, Training and professional development, Capital works - City of Sydney only |
Up to $10,000 |
City of Sydney |
| Grant - Unavoidable business costs such as utilities, overheads, legal costs and financial advice. Until 1 June 2020 |
Up to $10,000 |
NSW Gov |
NT
| What it’s for |
Funds available |
Eligibility & More info |
| Small Business Survival Fund |
The immediate survival payment amounts include: $2,000 for sole traders, $5,000 for businesses with 2 to 4 employees (FTEs). |
NT Gov |
QLD
| What it’s for |
Funds available |
Eligibility & More info |
| Payroll tax refunds |
Tax refund |
QLD Gov |
| Electricity bill relief |
$500 rebate |
QLD Gov |
SA
| What it’s for |
Funds available |
Eligibility & More info |
| Grant - Emergency Cash Grants for Small Businesses - Until 1 June 2020 |
Up to $10,000 |
SA Gov |
| Payroll tax waiver |
Tax waiver |
SA Gov |
| Payroll tax deferral |
Tax deferral |
SA Gov |
TAS
| What it’s for |
Funds available |
Eligibility & More info |
| Grant - Small Business Hardship Grant |
Up to $15,000 |
Tas Gov |
| Grant - Small Business Emergency Support Grant Round 2 |
Up to $2,500 |
Tas Gov |
| Grant - Business Continuity Program |
Up to $750 |
Tas Gov |
VIC
| What it’s for |
Funds available |
Eligibility & More info |
| Grant - Investing in online and e-commerce activities - City of Melb only |
Up to $5,000 |
City of Melb |
| Grant - Training and professional development - City of Melb only |
Up to $2,000 |
City of Melb |
| Grant - Capital works projects - City of Melb only |
Up to $10,000 - (matching dollar-for-dollar) |
City of Melb |
| Payroll Tax Refund/Waived for 2019/20 financial year |
Refund |
Vic Gov |
| Liquor licence fees waived/reimbursed |
fees waived |
Vic Gov |
| Grant - rent, utilities and salaries, and activities to support business continuity planning, such as seeking financial and legal advice - Until 1 June 2020 |
Up to $10,000 |
Vic Gov |
WA
| What it’s for |
Funds available |
Eligibility & More info |
| Grant - to assist them to manage the impacts of COVID-19 |
Up to $17,500 |
WA Gov |
| Payroll tax waiver - between March 1, 2020 to June 30, 2020 |
Waived tax |
WA Gov |
| Occasional liquor licence - grant occasional liquor licences to existing licensed venues for up to 6 months to allow the sale of liquor with a takeaway or delivered meal. |
|
WA Gov |
| Rent relief - Government-owned buildings for six months |
|
WA Gov |
These are main grants and support packages available, however there are other support opportunities like loans, vocational training subsides, business fees waivers, and rates/tenancy relief. Check your state government and local council websites, to find updates and more information.
Resources
-
Federal - https://www.business.gov.au/Risk-management/Emergency-management/Coronavirus-information-and-support-for-business
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ACT - https://www.covid19.act.gov.au/economic-support/economic-survival-package/supporting-local-businesses-and-the-economy#Six-month-waiver-of-payroll-tax10
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City of Melb - https://www.melbourne.vic.gov.au/business/Pages/business.aspx
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City of Syd - https://news.cityofsydney.nsw.gov.au/articles/covid-19-support-for-business
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NSW - https://www.nsw.gov.au/your-government/the-premier/media-releases-from-the-premier/10000-grants-to-provide-fast-relief-for-nsw-small-businesses-battling-covid-19/
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NT - https://businessrecovery.nt.gov.au/businesses/small-business-survival-fund
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QLD - https://www.business.qld.gov.au/
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SA - https://www.treasury.sa.gov.au/Growing-South-Australia/stimulus-measures-to-support-businesses-and-the-community-impacted-by-covid-19
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Tas - https://www.business.tas.gov.au/covid-19_business_support_packages
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Vic - https://www.business.vic.gov.au/disputes-disasters-and-succession-planning/illness-and-business-management-plan/coronavirus-business-support
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WA - https://www.wa.gov.au/organisation/department-of-the-premier-and-cabinet/covid-19-coronavirus-business-and-industry-advice
