Property Australia

Business support and advice during the coronavirus outbreak

PROPERTY AUSTRALIA April 1, 2020

A range of special support programs are being rolled out by all levels of government to keep businesses going through the coronavirus crisis. We review some of the best sources of up to date information on the help that is available.

Commonwealth

The Commonwealth Government has now committed $320 billion in additional support for individuals, households and businesses as part of its economic response to the coronavirus. And more support is likely to be announced as the public health and economic response continues to evolve in coming weeks and months. The Prime Minister has foreshadowed the restrictions on business and social activity may be in place for six months or more to support containment of the virus.

The Treasury Department has a comprehensive overview of support for individuals, households and businesses at its coronavirus information page, including details of the $130 billion JobKeeper program as well as programs announced earlier to boost business cash flow and credit availability.

In New South Wales, the Service NSW portal is the gateway to information on small business assistance programs, including financial stimulus measures such as payroll tax and other fee relief. The NSW Government has also relaxed some business trading regulations to support the response to the coronavirus outbreak.

The Business Victoria portal provides information for businesses on the public health measures being put in place as well as advice on business support.  The Victorian Government has announced a $1.7 billion economic response package including payroll tax refunds and commercial rent relief for tenants in government owned properties.

In Queensland, a $4 billion economic response package includes payroll tax relief, jobs support loans for employee retention, and other business support assistance and advice.

The South Australian government ‘s $1 billion economic response includes a Business and Jobs Support fund to directly assist individual businesses and industry sectors facing potential collapse. A comprehensive guide to advice for South Australian business is available here.

The Western Australian Government has announced a $1.6 billion economic and health package, which includes cash grants for small business relief for payroll tax, energy bills and license fees.

The Tasmanian Government’s business stimulus and support package includes freezing, capping or waiving fees and charges for small business, payroll tax relief and small business loans and grants.

The ACT Government is delivering a $137 million economic survival package to keep Canberrans in jobs and support business, while the Northern Territory Government is also rolling out a jobs rescue and recovery package including funding for small business survival, home improvement grants and an immediate work grant for not for profit and community organisations.

For up-to-the-minute information and resources, visit the Property Council’s Covid-19 hub.

Tags: ADVOCACY