ROCG Asia Pacific

COVID-19 Guide for BUSINESS

We have done the hard work for you and collated all the information you need to know. Here is our guide to everything COVID-19 for business.

Please note: Information is subject to change. Please contact your relevant office for the most up to date information.

JobKeeper payment
5/4/2020 (Applicable to All States)

Businesses impacted by the Coronavirus will be able to access a subsidy from the Government to continue paying their employees. Affected employers will be able to claim a fortnightly payment of $1,500 per eligible employee from 30 March 2020, for a maximum period of 6 months.

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FAQ For JobKeeper


Temporary relief for financially distressed businesses
29/3/2020 (Applicable to All States)

The government has implemented a number of temporary measures to lessen the threat of actions that could unnecessarily push a business into insolvency. The measures are broad and cover elements such as; Demands from creditors, Directors’ personal liability, insolvent trading & triggers for bankruptcy.

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Backing Business Investment (BBI)
1/4/2020 (Applicable to All States)

Eligible businesses will be able to deduct 50 per cent of the cost of an eligible asset on installation, with existing depreciation rules applying to the balance of the asset’s cost.

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Waiver of Liquor Licence Fees
1/4/2020 (Applicable to VIC)

Renewable liquor licence fees for 2020 will be waived. Businesses that have already paid will be reimbursed.

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Lottery & Keno Charges deferral
30/3/2020 (Applicable to NSW)

Lotteries and Keno payments will be deferred from 1 April 2020 to 30 September 2020. The NSW Government will provide further information on this measure in the coming days.

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Childcare Relief Package
6/4/2020 (Applicable to All States)

The Government will make payments directly to early childhood education and care services to help them keep their doors open and employees in jobs. Payments will be made until the end of the 2019-20 financial year and families will not be charged fees during this time.

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VIC Rental Relief
14/4/2020 (Applicable to VIC)

The Victorian Government will provide land tax deferrals & waivers of up to 25% where residential landlords & tenants negotiate a reduced rental agreement. Residential tenants in financial hardship will be eligible for a rent relief grant of up to $2,000 to be paid directly to their landlord. Evictions for rental arrears will be banned for 6 months.

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Boosting Cashflow for employers (PAYGW Credits)
2/4/2020 (Applicable to All States)

The Government is providing between $20,000 – $100,000 in cash flow assistance by way of a credit on activity statements. This package will be rolled out over “2 rounds” with businesses able to receive between $10,000 – $50,000 per round.

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Gaming Machine Tax Deferrals
30/3/2020 (Applicable to NSW)

Clubs and hotels will have their gaming machine tax payments deferred from March 2020 until 1 September 2020, provided these funds are used to retain staff. The NSW Government will provide further information on this measure in the coming days.

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Payroll tax deferrals & reductions
6/4/2020 (Applicable to NSW)

The New South Wales Government has announced deferrals & reductions for businesses liable to pay Payroll Tax. There are different measures in place depending on the value of a businesses total grouped Australian wages.

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Support for Australian Airlines & Airports
1/4/2020 (Applicable to NSW)
 

The Government will provide initial support to our airline industry by way of relief from a range of taxes and Government charges.

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Land Tax Deferrals
1/4/2020 (Applicable to VIC)

Eligible landowners will have the option of deferring their 2020 land tax payment until after 31 December 2020.

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NSW Small Business Grants
2/4/2020 (Applicable to NSW)

The New South Wales Government is providing funding of up to $10,000 via a grant process, for small businesses that have been highly impacted by COVID-19 Public Health Orders. Applications close 1 June 2020

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NSW Rental Relief
15/4/2020 (Applicable to NSW)

The New South Wales Government will provide land tax deferrals & waivers of up to 25% if landlords pass the savings on to their tenant experiencing financial distress. Eligible residential tenants will also temporarily be protected from eviction due to rental arrears.

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Increasing the instant asset write-off 
1/4/2020 (Applicable to All States)

The Government is increasing the instant asset write-off threshold from $30,000 to $150,000 and expanding access to include businesses with an aggregated annual turnover of less than $500 million (up from $50 million) until 30 June 2020

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Supporting Apprentices & Trainees
3/4/2020 (Applicable to All States)

Eligible employers can apply for a wage subsidy of 50 per cent of the apprentice’s or trainee’s wage for 9 months from 1 January 2020 to 30 September 2020. Employers will be reimbursed up to a maximum of $21,000 per eligible apprentice or trainee ($7,000 per quarter).

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ATO Administrative relief
20/3/2020 (Applicable to All States)

The Australian Taxation Office (ATO) will implement a series of administrative measures to assist Australian Businesses experiencing financial difficulty as a result of the COVID-19 outbreak.

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Parking Space Levy Deferrals
30/3/2020 (Applicable to NSW)

Parking space levy payments will be deferred until 30 September 2020. The NSW Government will provide further information on this measure in the coming days.

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Refund of Payroll Tax
1/4/2020 (Applicable to VIC)

Eligible businesses will have their payroll tax obligations waived for the 2019-20 financial year.

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Business Support Fund
1/4/2020 (Applicable to VIC)

The Victorian Government is providing funding of up to $10,000 for small businesses via a grant process.

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Fair Work Changes
15/4/2020 (Applicable to All States)

The Fair Work Act has been amended in order to implement the JobKeeper program. The amendments allow an employer to issue certain directives to, and make agreements with their employees. The amendments are temporary and will expire on 28 September 2020.


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