Australian Federal Government
Boosting Cashflow for Employers
Businesses with an annual turnover of up to $50m will receive a payment equal to 100% of your salary and wages taxes withheld with a minimum payment of $10,000 even if you are not required to withhold tax on salary and wages. A maximum payment of $50,000 will be available.
Supporting apprentices and trainees
Eligible employers can apply for a wage subsidy of 50 per cent of the apprentice or trainee’s wages paid until 31 March 2021.
Small businesses (less than 20 employees) who retain an apprentice or trainee. Medium-sized businesses (199 employees or less) are now eligible for the subsidy, for wages paid from 1 July 2020 – 31 March 2021.
Assistance for affected regions, communities and industries
Includes: An initiative to help agricultural and fisheries sector to export produce into key overseas markets, with return flights bringing back medical supplies.
Includes: For small regional businesses (19 employees or less) to access free and confidential financial counselling.
SA Government
$20 million tourism industry boost
Grants from $20,000 to $500,000 are available for businesses in the tourism sector for new and improved regional accommodation and quality tourism product and experiences that attract more visitors and a higher return. Grants provided will fund up to 30% of the total project cost.
Economic and Business Growth Fund
The State Government committed $100 million to the Economic and Business Growth Fund (the Fund) to promote economic growth in South Australia by encouraging growth of existing industries, developing new industries, building international connections, and attracting foreign and national direct investment.
Other Sources
ANZ – COVID-19 support package
Small and Medium Business customers with ANZ. Assistance will include:
- Decrease variable interest small business loan rates
- Six-month payment deferral with interest capitalised
- Temporary 12 month increase in overdraft
- Rate reduction for new small business loans for 2-3 years
NAB – COVID19 Assistance
Small and Medium Business customers with NAB. Assistance includes the following:
- Defer principal and interest for up to 6 months on a range of business loans
- Interest rate reduction on existing and new loans and overdrafts
- Deferred business credit card payments
- Request merchant terminal (including HICAPS) fees are waived for up to 6 months.
Facebook – USD $100m Small business grants programme
Up to 30,000 eligible small businesses in more than 30 countries will be able to receive a grant from Facebook. To be eligible to apply, your business must:
- have between 2 and 50 employees
- have been in business for over a year
- have experienced challenges due to COVID-19
- be in or near a location where Facebook operates
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