Covid-19 Government Support Package
We have been closely tracking the wide-ranging measures that the national and state governments have announced over the last fortnight. This email is to provide you with an overview of the measures announced to date in order to ensure that you and your employees are aware of the assistance available to you at this time.
We look forward to working with you on these matters to ensure that your Activity Statements and Tax returns are in order so that some of the key assistance payments can be received by your business. We will also provide further information on future stimulus and support measures that are rolled out by governments over the coming weeks.
Government Assistance to Business and Sole Traders
Below is a chart from the AFR providing a quick guide to the measures announced thus far. For detailed information on each measure we ask that you take the time to visit the Australian government website:
At that site you will find links to each stimulus measure including how to access it, when it will become available and how much you may receive. There is also a link to specific state government support packages also.
We are standing by to help you should you require further clarification or have any questions at all about your ability to access these payments.
Please note also that, beyond direct government payments and tax deferrals, Australian banks are now offering a small business relief package. You can learn about the package in general by visiting the Australian Banking Association website:
We recommend you contact your bank directly to ask about the support package with regards to existing loans and to any new loans your business may need at this time. Again, we are ready to assist you in a timely manner with any loan application work (including financial statements and tax return information) required by banks for any loan application you or your business needs to make.
We wish you and your staff the best during this unprecedented time. We continue in our endeavours to support you and your business with best advice and service possible.
Chart 1. Government Support Package at a glance: