JobKeeper payment for employers and employees
On 30 March 2020, the Government announced the $130b JobKeeper payment. Some businesses impacted by the Coronavirus will be able to access the wage subsidy from the Government to continue paying their employees. The Government assistance will help businesses keep people in their jobs and earn income – even if their hours have been cut.
We understand that some businesses will need financing as quickly as possible to help manage their short term cashflow. To access temporary funding ahead of government JobKeeper payments, please see our JobKeeper assistance page.
If you have a question about how we’re providing support with JobKeeper payments, you can get in touch on 1800 JOBKEEPER (1800 562 533).
Sole traders including those who are self-employed may be eligible to receive the JobKeeper payment.
Read more about the JobKeeper payment or see the JobKeeper factsheet (PDF, 189KB) for more information.
Cash flow assistance for business
The Government will help small to medium businesses with a cashflow injection by paying ATO debts related to your employees’ PAYG Withholding Tax.
Visit the Government's website for more information on ATO assistance and examples of how the cash flow boost can help your business.
To access the Government assistance, you need to continue lodging your monthly/quarterly BAS. So, make sure you keep up to date with your ATO obligations.
Increasing the instant asset write-off
Here’s a short summary of the changes:
- increase to the write-off threshold from $30,000 to $150,000
- available to businesses with aggregated annual turnover of less than $500 million (increased from $50 million)
- applies to new or second-hand assets first used or installed for use between 12 March 2020 and 31 December 2020.
Read more on the Government’s write-off threshold support page or learn about the instant asset write-off from the ATO.
Supporting apprentices and trainees
The Government is supporting small business to retain their apprentices and trainees.
Eligible employers can apply for a wage subsidy for the apprentice’s or trainee’s wage paid during the 9 months from 1 January 2020 to 30 September 2020.
Read more about the wage subsidy.