You may have seen on the news the government’s new JobKeeper Payment announcement for those businesses affected by Covid-19.
Note this is still to be legislated however employers can register their interest with the ATO.
Applications are now open for the Queensland Government’s $500 million COVID-19 Jobs Support Loan scheme. This scheme is for Queensland businesses and non-profit organisations financially affected by COVID-19 to retain employees and maintain their operations.
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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).
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The depreciating asset instant asset write-off threshold will be increased from $30,000 (for businesses with an aggregated turnover of less than $50 million) to $150,000 (for businesses with an aggregated turnover of less than $500 million) until 30 June 2020.
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Small and medium sized entities that employ staff with an aggregated annual turnover under $50 million are eligible for credits on their BAS.
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Yesterday, the federal government proposed a $17.6 billion stimulus package in an attempt to combat the economic affects of the Coronavirus outbreak.
It is expected the Bill will be introduced into Parliament in the final sitting of March 2020 for urgent review and passage as law.