COVID-19 Assistance Programs

The information on this page was updated on September 28, 2020.

Australian Federal Government
Victorian Government
Other Sources
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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.

Learn more: treasury.gov.au

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.

Learn more: business.gov.au

2nd Stimulus package – relaxation of insolvency measures

There will be more flexibility with respect to creditor initiated insolvency and voluntary administration actions. Moving the limits of the outstanding amount from $2,000 to $20,000 and timing to respond to 6 months instead of 21 days.

Learn more: theguardian.com

Instant Asset Write-Off (IAOW)

The instant asset write-off threshold has been increased from $30,000 to $150,000 and expanded access to include businesses with aggregated annual turnover of less than $500 million (up from $50 million).

Learn more: business.gov.au

EMDG additional funding

Increased funding so that eligible applicants will receive their full entitlement.

Learn more: austrade.gov.au

SME Guarantee Scheme Phase 2

Federal Government will guarantee half the value of new bank loans to SMEs (Businesses with a turnover of up to $50 million) to unlock up to $40B in finance.

Learn more: smallbusiness.wa.gov.au

Business Wage Subsidies

The payment rate of $1,500 per fortnight for eligible employees and business participants will be reduced to $1,200 per fortnight from 28 September 2020 and to $1,000 per fortnight from 4 January 2021.

Learn more: treasury.gov.au

$500m Loans for exporters

The new COVID-19 Export Capital Facility will target loans to established and previously profitable exporters who, due to COVID-19, are unable to gain finance from commercial sources.

Learn more: trademinister.gov.au

Rental relief package

Businesses with turnover under $50 million that are eligible for JobKeeper payments will be protected by new laws to be passed in each State.

Learn more: business.gov.au

$50M NBN Relief

Relief measures will include waiving wholesale monthly costs paid by internet providers for small and medium businesses facing COVID- 19 related financial hardship, and providing internet providers with discounted access to new business-grade services until 31 January next year.

Learn more: paulfletcher.com.au

Australian Energy Regulator – Statement of Expectation

Protecting customers and the energy market during COVID-19 – Not binding, however expectation that small business owners who indicate they are experiencing financial stress to be offered a payment plan or hardship exemptions.

Learn more: aer.gov.au

Restart Investment to Sustain and Expand (RISE) Fund

Grants between $75,000 and $2m are available to assist companies in the arts and entertainment sector to restart, re-imagine or create new activities, including festivals, concerts and tours, that have been impacted by Covid-19.

Learn more: grants.gov.au

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.

Learn more: haveyoursay.awe.gov.au

Includes: For small regional businesses (19 employees or less) to access free and confidential financial counselling.

Learn more: agriculture.gov.au

Victorian Government

Business recovery and resilience mentoring

The Victorian Government has partnered with VCCI to deliver a business mentoring program to help small businesses navigate the economic challenges posed by restrictions to help slow the spread of coronavirus (COVID-19). Through this program, eligible business owners can receive up to four 2-hour mentoring sessions with an experienced professional who will help them make informed decisions about the future of their business.

Learn more: victorianchamber.com.au

Economic Survival Package To Support Businesses And Jobs

Payroll tax relief: Victorian businesses with less than $3m payroll.

Tenancy relief: Commercial tenants in government buildings.

Business Support Fund: All businesses in all sectors with a focus on hospitality, tourism, accommodation, arts and entertainment, and retail.

And more…

Learn more: premier.vic.gov.au

Sport, Tourism and Creative Industries Grants

Funding programs will be announced including:

  • $40m for community sport and recreation bodies
  • $16m for national sporting organisations
  • $44m for the Victorian racing industry
  • $32m for creative agencies and initiatives
  • $11m for the tourism industry
Learn more: djpr.vic.gov.au

$500m working for Victoria Fund

Eligible businesses can apply for a one-off grant which can be used towards costs such as utilities, rent and salaries, and activities to support business continuity planning.

Learn more: business.vic.gov.au

$500m working for Victoria Fund

Eligible businesses can apply for a one-off grant which can be used towards costs such as utilities, rent and salaries, and activities to support business continuity planning.

Learn more: business.vic.gov.au

$500m working for Victoria Fund

Eligible businesses can apply for a one-off grant which can be used towards costs such as utilities, rent and salaries, and activities to support business continuity planning.

Learn more: business.vic.gov.au

Land tax relief program

To encourage landlords to do the right thing by their tenants, the Victorian Government will provide $420 million in land tax relief.

Learn more: premier.vic.gov.au

Alpine business grants

Alpine business grants will provide up to $20,000 to help alpine businesses pay a service charge to Alpine Resort Management Boards.

Learn more: business.vic.gov.au

Business Adaptation Program – Food Businesses

Part of Working for Victoria Agriculture Workforce Plan to support food supply chain businesses in rural, regional and outer metro areas.

Learn more: agriculture.vic.gov.au

Business Survival package round three

The third round of the Business Support Fund will provide support, based on the level of annual payroll tax paid by a business.

Learn more: business.vic.gov.au

City Recovery Fund

Jointly funded by the City of Melbourne, the fund will provide practical support to small and medium-sized businesses to run events and activities during the Summer.

Learn more: business.vic.gov.au

Business Adaptation Package – digital presence

This package is designed specifically to help businesses adapt and acclimate to a new ‘COVID Normal’ environment once restrictions are eased for each sector.

Learn more: business.vic.gov.au

Survival Package to help save arts jobs

To provide immediate support to Victorian creative organisations and individuals to sustain employment, develop new works and provide opportunities for creative community participation.

Learn more: premier.vic.gov.au

Sole trader support and CBD revamp

Sole traders (omitted from the original Business Support Fund) will be eligible for a $3,000 grant.

Grants of up to $5,000 will be available to help hospitality businesses fund practical items for outdoor dining

Learn more: business.vic.gov.au

City of Melbourne – $10m economic stimulus package

The city of Melbourne is suspending fees for registration under the food act and street trading permits for three months.

Tenants of council-owned buildings will have their rent halved for three months.

Learn more: melbourne.vic.gov.au

Other Sources

Electricity and Gas Network Relief Package

Energy networks across New South Wales, Victoria and South Australia have announced a suite of measures to provide support to customers enduring hardship as a result of the COVID-19 pandemic.

Learn more: energynetworks.com.au

Westpac – Tailored help for small businesses

Businesses with less than $50m turnover. Assistance will include

  • Unsecured 3-year term loan up to $250,000
  • Interest rate reduction on existing loans, overdrafts and cash loans
  • Deferment of repayments for up to 6 months.
Learn more: westpac.com.au

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
Learn more: anz.com

CommBank – COVID19 Support

Small and Medium business customers with CBA. Assistance includes:

  • Unsecured loans with no establishment or account fees, and no repayments required for 6 months
  • Automatic deferring of loan repayments
  • Reduced rates on business loans and overdrafts
Learn more: commbank.com.au

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.
Learn more: nab.com.au

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
Learn more: facebook.com

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