Coping With COVID-19 Resources
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The Australian Government is supporting Australian businesses to manage cash flow challenges and retain employees. Assistance includes cash flow support to businesses and temporary measures to provide relief for financially distressed businesses. Click here for links to...
- JobKeeper payment
- Cash flow support for small and medium businesses
- Temporary relief for financially distressed businesses
- Increasing the instant asset write-off
- Backing business investment
- Supporting apprentices and trainees
- Not-for-profit organisations
- Support for sole traders
Australian Automotive Aftermarket Association
Through out the COVID-19 crisis the AAAA has hosted a number of informative webinars outlining Govenment assistance packages and real life case studies on how these assistance packages can be applied to workshop busiesses. Use the links below to discover these valuable webinars and slide packs...
- AAAA COVID-19 Government Assistance Member Webinar 15.04.20
- COVID-19 & Government Assistance – Economic Stimulus CaseStudies
- COVID-19 Government Assistance to Business Webinar JobKeeperand Staff Q&A
- AAAA Big Bank Response
- AAAA Self Isolation
- AAAA Commercial Rentals
Microbase Software
Click here to download instructions on how to process JobKeeper in the Microbase Automation Premium software package.
Vehicle Award Changes
On 11 May 2020, the Fair Work Commission (the Commission)made a determination varying the Vehicle Award.The determination inserted a temporary new Schedule J, which applies from anemployee’s first full pay period on or after 11 May 2020 until 30 June 2020. Click here to learn more.
Schedule J changes the following award provisions during thecoronavirus outbreak:
- employees’classifications and duties
- full-timeand part-time employees’ hours of work
- annualleave
- annualleave and close downs
JobKeeper
Changes to Fair Work Act for JobKeeper
On 9 April 2020, the Fair Work Act was amended to support the implementation and operation of the JobKeeper wage subsidy scheme (JobKeeper scheme) in Australian workplaces. These changes are temporary and will end on 28 September 2020. Click here for a page that includes links to all aspects of JobKeeper.
ATO JobKeeper Information
Includes links to pages with information for...
- Employers
- Employees
- Sole traders and other entities
- Tax and BAS agents
Enrol for the JobKeeper payment
Includes links to enrol for the JobKeeper payment
JobKeeper Guides
The following guides provide a high-level summary of the JobKeeper Payment scheme:
- JobKeeper guide - sole traders
- JobKeeper guide - employers reporting through STP
- JobKeeper guide - employers not reporting through STP
Financial Support
The Australian Government's economic response to coronavirus
On 12 and 22 March 2020, the government announced measures to help the economy withstand and recover from the economic impact of COVID-19 (coronavirus). The following measures will be administered by the ATO and are now law.
- Enhancing the instant asset write-off
- Backing business incentive
- Boosting cash flow for employers
- Temporary early release of superannuation
- Temporarily reducing superannuation minimum drawdown rates
Boosting cash flow for employers
Legislation has passed to provide temporary cash flow support to small and medium businesses and not-for-profit organisations that:
- Employ staff and have been affected by the economic downturn associated with COVID-19 (novel coronavirus).
- Eligible businesses and not-for-profit (NFP) organisations will receive between $20,000 to $100,000 in cash flow boost amounts by lodging their activity statements up to the month or quarter of September 2020. Click here for more.
Taxation Advantages
Instant asset write-off for eligible businesses
Under instant asset write-off eligible businesses can:
- immediately write off the cost of each asset that cost less than the threshold
- claim a tax deduction for the business portion of the purchase cost in the year the asset is first used or installed ready for use.
Instant asset write-off can be used for both new and second-hand assets. Some exclusions and limits apply. The instant asset write-off eligibility criteria and threshold have changed over time. You need to check your business's eligibility and apply the correct threshold amount. Learn more here.
Backing business investment – accelerated depreciation
On this page:
Measures introduced in March 2020 provide an incentive to businesses with aggregated turnover of less than $500 million for the 2019–20 and 2020–21 income years, to deduct the cost of depreciating assets at an accelerated rate.
Apprentices
Supporting Apprentices and Trainees
As part of its Economic Response to the Coronavirus, the Australian Government is supporting business to manage cash flow challenges and to keep apprentices and trainees employed through a new Supporting Apprentices and Trainees wage subsidy. Wage subsidies will be available to small businesses, including those using a Group Training Organisation, to help retain existing apprentices and trainees.
- https://www.employment.gov.au/supporting-apprentices-and-trainees
- https://treasury.gov.au/sites/default/files/2020-04/fact_sheet-supporting_apprentices_and_trainees_0.pdf
- Fact Sheet
Support for small businesses to retain apprentices and trainees
As part of the Australian Government’s Economic Response to the Coronavirus, eligible employers can apply for a wage subsidy of 50 per cent of the apprentice’s or trainee’s wage paid during the 9 months from 1 January 2020 to 30 September 2020.The subsidy will be available to small businesses employing fewer than 20 employees who retain an apprentice or trainee. The apprentice or trainee must have been in-training with a small business as at 1 March 2020. Discover more here.
Rent
Relief for commercial tenants
The Government has announced a range of measures to help renters. This includes a temporary hold on evictions and a mandatory code of conduct for commercial tenancies to support small and medium sized enterprises (SMEs) affected by coronavirus. Click here for links to State resources.