COVID-19 Stimulus Measures - updated 6 April 2020 - Bentleys
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COVID-19 Stimulus Measures – updated 6 April 2020
The Bentleys national tax team is keeping an updated list of measures as they evolve at Bentleys Coronavirus Measures
Federal
Measure description Jurisdiction/ Eligibility Timing How do I get it?
provider
JobKeeper payment Federal government 1bn turnover show greater
than 50% reduction in
turnover
$550 per fortnight special Federal government Existing or new Job seeker, Over the next 6 months from Services Australia is
Coronavirus supplement Youth allowance Jobseeker, 27 April 2020 administering for eligible
for income support parenting payment, farm recipients
payments allowance and special COVID $550 supplement
benefit. Asset testing will be
waived. Waiting period
waived.
Two $750 one-off Federal government Individuals in receipt of From 31 March 2020 and from Automatic from government
payments to social eligible social security 13 July 2020 COVID $750 payments
security and other income payments.
support recipients
$20,000 - $100,000 cash Federal government SME business with Minimum $10,000 and Calculated by ATO on
payment or PAYG aggregated turnover less maximum $50,000 paid on lodgement of BAS by
reduction for employers than $50m and employing March – June BAS (calculated completing relevant
staff with ABN prior to 12 based on the amount of PAYG employment labels
March 2020. withholdings from 1 January to Cashflow Boost
30 June 2020). Additional
payment of $10,000 - $50,000
in July to Oct 2020 period
calculated based on the initial
payment and spread over the
period.
Current as at 6 April 2020COVID-19 Stimulus Measures – updated 6 April 2020
Temporary reduction in Federal government Superfunds with account- For 2020 and 2021 financial Super administration
minimum super draw- based pensions. Minimum year pension payments
down pension reduced by 50%
Reduction in social Federal government Age pensioners 1 May 2020 Government administration
security deeming
Early access to Federal government Individuals who are: $10,000 can be accessed Apply from mid-April though
superannuation ($20,000) • Unemployed; before 1 July 2020. the myGov website:
tax-free • Eligible for government $10,000 can be accessed for 3 www.my.gov.au
payments; or months from 1 July 2020. Early access to super
• After 1 January 2020:
o made redundant;
o had hours reduced by
20% or more; or
o if a sole trader had a
reduction in turnover of
20% or more.
Increase in thresholds for Federal government Company and individual Immediate for 6 months Business practice
creditors to issue debtors
demands or initiate
bankruptcy
Directors can trade while Federal government Directors Immediate for 6 months Business practice
insolvent temporarily
without becoming
personally liable
Increase to instant asset Federal government Depreciating asset purchases Acquired after 12 March and Acquire eligible asset
write-off deduction to less than $150k (note car Installed and ready for use
$150k limit for car purchases) where before 30 June 2020
entity has aggregated
turnover less than $500m
Write-off of 50% cost of Federal government New depreciating asset Acquired after 12 March and Acquire eligible asset
eligible new assets purchases where entity has Installed and ready for use
aggregated turnover less before 30 June 2021
than $500m
50% credit for apprentices Federal governmentCOVID-19 Stimulus Measures – updated 6 April 2020
Maximum $21,000 payment Provider from early -April
per apprentice 2020
$1bn support package Federal government Export, tourism and affected TBA $1bn fund for affected
industries industries
SME loan guarantee Federal government Less than $50m turnover. Early April 2020 to 30 Through lenders ABA -
scheme. Up to $250k through lending Government will guarantee 3- September 2020 COVID resources
unsecured loans institutions 1 year loan with no repayments
for 6 months.
Exemption from Federal government Small business customers Immediate for 6 months Business practice
responsible lending
Remission of interest & Australian Taxation Businesses needing cashflow Immediate Information on ATO site
penalties for pre-23 Jan Office due to COVID impacts
tax debts
Low interest payment Australian Taxation Businesses needing cashflow Immediate Contact ATO
plans Office due to COVID impacts
Deferral of due dates for Australian Taxation Businesses needing cashflow Immediate Contact ATO 1800 806 218
post 23 Jan tax payments Office due to COVID impacts
by up to 6 months
Change to GST reporting Australian Taxation All businesses Immediate Through online application
cycle from quarterly to Office form
monthly to access refunds
PAYG Instalment refund Australian Taxation Businesses needing cashflow Immediate Variation to instalment to
for payments made year Office due to COVID impacts next BAS/ IAS2 to withdrawn
to date instalments from start of year
FIRB – no exemption Federal government All foreign acquisitions of Immediate from 29 March 2020 Subject to normal FIRB
threshold on review of Australian assets processing requirements.
foreign acquisitions Delays expected up to 6
months.
Free childcare Federal government Childcare sector will have Applies from 6 April, based on TBA
50% of its revenue paid by children in care during the
the government so long as fortnight leading into 2 March
1 The RBA is also providing lending support to financial institutions to reduce the cost of funding to SMEs
2 The ATO information suggests these measures will not be applied automatically. You will need to notify the ATO of the reasons for the variation when the
form is lodged. The ATO will not apply interest or penalties on the final tax liability which is higher due to the refunded instalments.
Current as at 6 April 2020COVID-19 Stimulus Measures – updated 6 April 2020
the services remain open and
do not charge families for
care.
NSW
Measure Jurisdiction/ Eligibility Timing How do I get it?
provider
3 month waiver of NSW NSW government Total Aust payroll $10m
Deferral of gaming tax and NSW government Clubs, pubs and hotels. Immediate for 6 months TBA
lotteries tax Funds must be used to retain
staff
Deferral of parking space NSW government Parking space levy payers Immediate for 6 months TBA
levy
Deferral of rent for NSW government Commercial tenants in Immediate for 6 months TBA
commercial tenants in government buildings
government buildings
Current as at 6 April 2020COVID-19 Stimulus Measures – updated 6 April 2020
$10,000 grants to small NSW government Less than 20 employees and Applications will open within a Applications to Service NSW,
businesses a turnover of more than fortnight and remain open until details TBA
$75,000, payroll less than 1 June 2020
$900,000 based in NSW with
an ABN, employ staff as at 1
March 2020, highly impacted
by the virus and use the
funding for unavoidable
business costs.
VIC
Measure description Jurisdiction/ Eligibility Timing How do I get it?
provider
Deferral of Vic payroll tax VIC government Businesses with payroll less Businesses can defer Jul-Sept VIC payroll tax
than $3m payroll tax to 1 January 2021
Victoria payroll tax refund VIC government Employers with payroll of less For payroll tax from 1 July Automatic from government.
than $3m 2019 to 30 June 2020. Vic payroll tax
Payments expected from
March 27
Govt fee waivers VIC government Liquor licencing fees for 2020 fees Vic Revenue to reimburse
affected venues and small eligible business Fee waivers
business
$500m business support VIC government Employ staff payroll less than Open now, closes in 64 days Online application Business
fund – payments of $650k, highly impacted by support fund
$10,000 per business VIC business closures,
turnover greater than
$75,000
Working for Victoria fund VIC government Workers who have lost their Immediate Application through
job, been stood down or have Sidekicker
reduced shifts as a result of
the virus and who have
Australian working rights
Current as at 6 April 2020COVID-19 Stimulus Measures – updated 6 April 2020
Vic land tax deferral VIC government Non-residential landowners 2020 land tax payment Automatic administration by
with less than $1m in taxable deferred until after 1 Jan 2021 Vic Revenue
holdings. and can be paid by 31 March
2021
Vic government supplier VIC government Businesses with outstanding All payments made within 5 Vic government
payments government supplier days administration
payments
Rent relief for commercial VIC government TBA TBA TBA
tenants in government
buildings
QLD
Measure Jurisdiction/ Eligibility Timing How do I get it?
provider
QLD payroll tax deferral QLD government Businesses impacted by Immediate deferral for 2020 Application to QLD govt
COVID calendar year until 14 January QLD payroll tax relief
2021
QLD payroll tax relief QLD government Businesses with payroll less 3 month payroll tax holiday Application to QLD govt
than $6.5m QLD payroll tax relief
QLD payroll tax refund QLD government SMEs with payroll up to 2 month refund of payroll tax Application to QLD govt
$6.5m impacted by COVID QLD payroll tax relief
12 mth Interest-free loans QLD government QLD businesses by Immediate Apply to QLD government
up to $250k application. Intended to help QLD Job support loan
retain staff.
Market diversification and QLD government Queensland based Equipment purchases open Apply to the MDRG program
resilience grants: agriculture, food, forestry or from 12 March 2020, Projects Team
Equipment purchase fishing exporter. Must also be open from 12 March to 20 April
grants of up to $7,500, a small to medium sized
and project grants up to business with less than 200
$50,000 FTE employees, have an
ABN, registered for GST and
have been viably operating
for the past 2 years.
Current as at 6 April 2020COVID-19 Stimulus Measures – updated 6 April 2020
$200 payment to assist QLD government All households, and small Depends on when the bill falls Automatic
with electricity and water businesses who consume due, but should be over the
bills for households, $500 less than 100,000 kilowatt coming months
for small business hours
electricity bills
Govt fee waivers QLD government Eligible businesses including Immediate Details at QLD fee waivers
fishery & hospitality
SA
Measure Jurisdiction/ Eligibility Timing How do I get it?
provider
SA Payroll tax relief SA government Businesses with annual payroll 6 month waiver of RevenueSA will provide automatically onCOVID-19 Stimulus Measures – updated 6 April 2020
CommunityandJobsSupportFund@sa.go
v.au
$350m infrastructure SA government Eligible projects Immediate SA govt by application
fund
Adelaide City Council Adelaide City Rent relief and other Immediate (generally 3 ACC concessions
concessions Council concessions months)
WA
Measure Jurisdiction/ Eligibility Timing How do I get it?
provider
Relief for on-demand WA government Taxi licensees, on-demand Payments expected to be TBA
transport industry booking services made in July 2020
Energy assistance WA government Eligible concession card $305 credited from May, Automatic
payment doubling to holders, with eligibility and the rest over the
$610 extended to those who will course of the next year
become eligible before Sep 30
2020.
One off credit of WA government Synergy and Horizon power Allocated from 1 May TBA
$2,500 for electricity small business customers that 2020
consume less than 50
megawatt hours per annum.
WA payroll tax relief WA government Small to medium businesses 4 month waiver of payroll TBA
with Australia wide wages of tax
less than $7.5m
Govt fee waivers WA government Licence holders such as: Wide range of licence TBA
builders, plumbers and fees waived for the next
electricians, tourism 12 months.
businesses operating in
national and marine parks,
tourism operators and
commercial fishers with boats,
taxi booking service, settlement
Current as at 6 April 2020COVID-19 Stimulus Measures – updated 6 April 2020
agents and liquor licence
holders.
$500m for Health and WA government Front line services (i.e. TBA TBA
other front line service producers of medical
delivery equipment, cleaners, schools).
$17.5k business grant WA government WA employers with Aust From 1 July 2020 Automatic from government but should
taxable wages $1m to $4m check details WA payroll
Bring forward WA WA government All businesses From 1 July 2020 Automatic on payroll tax returns
payroll tax threshold
increase to $1m
$159m crisis support WA government Not-for-profits and community Immediate Apply to Lotterywest
relief fund organisations
Rent waiver WA government Small businesses and not-for- For 6 months TBA
profits in Gov owned buildings
Household fee WA government All WA households Immediate until 1 July Automatic from govt
increase freezing 2021
TAS
Measure Jurisdiction/ Eligibility Timing How do I get it?
provider
TAS Payroll tax waiver TAS government Hospitality, seafood, tourism. Four month waiver Application to TAS govt TAS SRO -
Other businesses with payroll till 30 June 2020 payroll tax
up to $5m by application
TAS 3-yr interest-free TAS governmentCOVID-19 Stimulus Measures – updated 6 April 2020
NT
Measure Jurisdiction/ Eligibility Timing How do I get it?
provider
NT home improvement NT government Used for home improvement Businesses from Application to NT govt: NT Home
grant ($6,000 voucher for or repairs by local business 30 March, Improvement Grant
$2,000 contribution or registered for the scheme. households from 6
$4,000 voucher for a One home per person only. April. Voucher
$1,000 contribution) eligible for 3
months
NT business improvement NT government Must be used for undertaking Application from 30 Application to NT govt: NT Business
grant $10,000 or $20,000 improvements to an NT March 2020. Improvement Grant
(with owner $10,000 business purchased from an Eligible businesses
contribution) eligible NT business (not listed from 13 April
solar or PV installation). 2020
NT $50,000 cash grant NT government Must be not-for-profit or Immediate Application to NT govt NT community
and $50,000 matched community organisation for grant
grant premises/ facility upgrade
NT Survival fund NT government Small business cash Open now Apply at NT Small business fund
payments payments to assist impacted
businesses
Govt fee increase freezing NT government All fee payers Immediate until 1 Automatic from govt
July 2021
ACT
Measure Jurisdiction/ Eligibility Timing How do I get it?
provider
ACT payroll tax deferral ACT government Businesses less than $10m From 1 July 2020 Online form www.revenue.act.gov.au
interest-free in payroll until 1 July 2022
ACT payroll tax waiver ACT government Hospitality, creative arts and Immediate for 6 Online form www.revenue.act.gov.au
entertainment months
ACT registration fee waiver ACT government Food business registration, April 2020 for 12 Automatic from ACT govt
liquor licencing, taxi/ ride months
share fees
Current as at 6 April 2020COVID-19 Stimulus Measures – updated 6 April 2020
ACT rates rebate ACT government Residential property owners Immediate Automatic from ACT govt
($150 rebate) and
commercial properties AUVCOVID-19 Stimulus Measures – updated 6 April 2020 Businesses: https://www.business.gov.au/Risk-management/Emergency-management/Coronavirus-information-and-support-for-business - Links to Federal and State information on programs and support for businesses Services Australia (individuals) https://www.servicesaustralia.gov.au/individuals/subjects/affected-coronavirus-covid-19 - Provides information for individuals accessing government support Other agencies https://www.energy.gov.au/energy-sector-response-novel-coronavirus-covid-19 - information on getting relief from energy bills https://www.austrade.gov.au/news/news/novel-coronavirus - Trade information https://coronavirus.fairwork.gov.au/ - fair work - information for employment https://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r6521 - legislation introduced for Coronavirus measures SA Government: https://www.sa.gov.au/covid-19 https://business.sa.gov.au/COVID-19-business-information-and-support NSW government https://preview.nsw.gov.au/covid-19 https://www.business.gov.au/Grants-and-Programs/COVID19-Tax-Relief-Measures-NSW VIC government https://www.dhhs.vic.gov.au/coronavirus https://www.business.vic.gov.au/disputes-disasters-and-succession-planning/illness-and-business-management-plan/coronavirus-business- support Current as at 6 April 2020
COVID-19 Stimulus Measures – updated 6 April 2020
QLD Government
https://www.qld.gov.au/health/conditions/health-alerts/coronavirus-covid-19
https://www.business.qld.gov.au/
WA government
https://www.wa.gov.au/government/covid-19-coronavirus
NT government
https://coronavirus.nt.gov.au/
Tasmanian government
https://coronavirus.tas.gov.au/
https://www.business.tas.gov.au/coronavirus_information
ACT government
https://apps.treasury.act.gov.au/budget/covid-19-economic-survival-package
https://health.act.gov.au/about-our-health-system/novel-coronavirus-covid-19
Industry Bodies:
Property council https://campaign.propertycouncil.com.au/covid-19-information-update
Links to resources and PCA statements
Business Council of Australia https://www.bca.com.au/covid-19
General information and links and statements of member actions (e.g. ANZ bank)
Business SA https://www.business-sa.com/covid19
Useful templates and information for business
CPA Australia https://www.cpaaustralia.com.au/training-and-events/coronavirus-impact
Current as at 6 April 2020COVID-19 Stimulus Measures – updated 6 April 2020
Useful checklists and information to support advisors and business
Chartered Accountants https://www.charteredaccountantsanz.com/tools-and-resources/client-service-essentials/reporting/qa-responding-to-
covid19-challenges
Links to major accounting firm information on COVID (e.g. KPMG, PwC etc...)
Tax Institute https://info.taxinstitute.com.au/economic-stimulus-package-information
Links to information sources and TIA releases
Australian hotels association http://aha.org.au/covid-19-resources/
Information and links for affected industry participants
Australian retailers association https://www.australian-retailers-association.com/updates-for-retailers-coronavirus/
Useful guide and information for affected industry participants
Australian Bankers Association https://www.ausbanking.org.au/campaigns/financial-hardship/
Information on how to access banking relief and links to banks COVID resources
Tourism Australia https://www.tourism.australia.com/en/events-and-tools/industry-resources/resources-for-industry/government-support-and-
assistance-for-tourism-industry.html
Information on relief for tourism industry
Chamber of commerce https://www.australianchamber.com.au/covid-19-business-support/
Employer guide for businesses impacted by COVID
* * * * * * * * * *
The information in this document is a short summary of announced measures, some of which may not have been legislated. Each measure has
its own unique requirements which are not listed in detail here. You should review each particular measure and the enabling legislation before
advising your client of the impacts for these particular circumstances. Further, this document is highly summarised and does not include all the
relevant information to assess your particular client situation. We have tried to keep the information as up to date as possible as the date
above. However, information is continually changing.
Current as at 6 April 2020You can also read
