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15 Aug 2020

Coping With COVID-19 Resources

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During these unprecedented times, a large range of support mechanisms have been released to assist businesses across a wide range of areas.  Below is a comprehensive list of resources your business can use to navigate these challenging times. 

General Business Information Resources 

 
General Support for Businesses

The Australian Government is supporting Australian businesses to manage cash flow challenges and retain employees. Assistance includes cash flow support to businesses and temporary measures to provide relief for financially distressed businesses. Click here for links to... 

 

Australian Automotive Aftermarket Association

Through out the COVID-19 crisis the AAAA has hosted a number of informative webinars outlining Govenment assistance packages and real life case studies on how these assistance packages can be applied to workshop busiesses. Use the links below to discover these valuable webinars and slide packs...  

 

Microbase Software 

Click here to download instructions on how to process JobKeeper in the Microbase Automation Premium software package.

 

Vehicle Award Changes

 On 11 May 2020, the Fair Work Commission (the Commission)made a determination varying the Vehicle Award.The determination inserted a temporary new Schedule J, which applies from anemployee’s first full pay period on or after 11 May 2020 until 30 June 2020.  Click here to learn more. 

Schedule J changes the following award provisions during thecoronavirus outbreak: 

JobKeeper

Changes to Fair Work Act for JobKeeper

On 9 April 2020, the Fair Work Act was amended to support the implementation and operation of the JobKeeper wage subsidy scheme  (JobKeeper scheme) in Australian workplaces.  These changes are temporary and will end on 28 September 2020. Click here for a page that includes links to all aspects of JobKeeper.

 

ATO JobKeeper Information

Includes links to pages with information for... 

  • Employers
  • Employees
  • Sole traders and other entities
  • Tax and BAS agents

 

Enrol for the JobKeeper payment

Includes links to enrol for the JobKeeper payment  

 

JobKeeper Guides

The following guides provide a high-level summary of the JobKeeper Payment scheme:

 

 

Financial Support

The Australian Government's economic response to coronavirus

On 12 and 22 March 2020, the government announced measures to help the economy withstand and recover from the economic impact of COVID-19 (coronavirus). The following measures will be administered by the ATO and are now law.

 

 

Boosting cash flow for employers

Legislation has passed to provide temporary cash flow support to small and medium businesses and not-for-profit organisations that: 

  1. Employ staff and have been affected by the economic downturn associated with COVID-19 (novel coronavirus).
  2. Eligible businesses and not-for-profit (NFP) organisations will receive between $20,000 to $100,000 in cash flow boost amounts by lodging their activity statements up to the month or quarter of September 2020.  Click here for more. 

Taxation Advantages

Instant asset write-off for eligible businesses

Under instant asset write-off eligible businesses can: 

  1. immediately write off the cost of each asset that cost less than the threshold
  2. claim a tax deduction for the business portion of the purchase cost in the year the asset is first used or installed ready for use. 

Instant asset write-off can be used for both new and second-hand assets. Some exclusions and limits apply.   The instant asset write-off eligibility criteria and threshold have changed over time. You need to check your business's eligibility and apply the correct threshold amount.  Learn more here.  


Backing business investment – accelerated depreciation

On this page: 

 

Measures introduced in March 2020 provide an incentive to businesses with aggregated turnover of less than $500 million for the 2019–20 and 2020–21 income years, to deduct the cost of depreciating assets at an accelerated rate.  

Apprentices

Supporting Apprentices and Trainees

As part of its Economic Response to the Coronavirus, the Australian Government is supporting business to manage cash flow challenges and to keep apprentices and trainees employed through a new Supporting Apprentices and Trainees wage subsidy.  Wage subsidies will be available to small businesses, including those using a Group Training Organisation, to help retain existing apprentices and trainees. 


Support for small businesses to retain apprentices and trainees

As part of the Australian Government’s Economic Response to the Coronavirus, eligible employers can apply for a wage subsidy of 50 per cent of the apprentice’s or trainee’s wage paid during the 9 months from 1 January 2020 to 30 September 2020.The subsidy will be available to small businesses employing fewer than 20 employees who retain an apprentice or trainee. The apprentice or trainee must have been in-training with a small business as at 1 March 2020.  Discover more here. 

Rent 

Relief for commercial tenants

The Government has announced a range of measures to help renters. This includes a temporary hold on evictions and a mandatory code of conduct for commercial tenancies to support small and medium sized enterprises (SMEs) affected by coronavirus.  Click here for links to State resources.

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