{"id":1836,"date":"2020-04-01T18:00:30","date_gmt":"2020-04-01T07:00:30","guid":{"rendered":"https:\/\/www.sage.com\/en-au\/blog\/?p=1836"},"modified":"2026-02-05T20:10:44","modified_gmt":"2026-02-05T09:10:44","slug":"coronavirus-government-financial-support","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-au\/blog\/coronavirus-government-financial-support\/","title":{"rendered":"Coronavirus government response: what financial support is available to your business?"},"content":{"rendered":"<header class=\"entry-header has-dark-background-color entry-header--has-illustration entry-header--has-illustration--generic\">\n\t<div class=\"container\">\n\t\t<div class=\"entry-header__row row align-center\">\n\t\t\t<div class=\"col col-lg-7 col-xlg-6 entry-header__content\">\n\t\t\t\t\t\t\t<div class=\"component component-single-header\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"entry-header__misc text--subtitle text--uppercase text--small\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-au\/blog\/category\/money-matters\/\" class=\"entry-header__link\">Money Matters<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<div class=\"entry-title-wrapper\">\n\t\t\t\t\t<h1 class=\"entry-title\">\n\t\t\t\t\t\tCoronavirus government response: what financial support is available to your business?\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<p class=\"entry-header__description\">\n\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\t<div class=\"single-post-details container\">\n\t\t<div class=\"col\">\n\t\t\t<span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2020-04-01T18:00:30+11:00\">April 1, 2020<\/time><\/span><span class=\"reading-time\"> min read<\/span>\n\t\t<button\n\t\t\ttype=\"button\"\n\t\t\tclass=\"social-share-button button button--icon button--secondary js-social-share-button\"\n\t\t\tdata-share-title=\"Coronavirus government response: what financial support is available to your business?\"\n\t\t\tdata-share-url=\"https:\/\/www.sage.com\/en-au\/blog\/coronavirus-government-financial-support\/\"\n\t\t\tdata-share-text=\"Please read this interesting article\"\n\t\t>\n\t\t\t<span class=\"social-share-button__share-label\">Share<\/span>\n\t\t\t<span class=\"social-share-button__copy-label\" hidden>Copy Link<\/span>\n\t\t\t<span class=\"social-share-button__copy-tooltip\" aria-hidden=\"true\" hidden>Copied<\/span>\n\t\t<\/button>\n\n\t\t\t\t<\/div>\n\t<\/div>\n<\/header>\n\n\n\n<div class=\"wp-block-post-author has-dark-background-color alignfull\">\n\t<div class=\"container\">\n\t\t<div class=\"col\">\n\t\t\t\t\t\t\t<div class=\"co-authors\">\n\t\t\t\t\t\n\t\t<div class=\"entry-author-wrapper\">\n\t\t\t<a class=\"entry-author\" href=\"https:\/\/www.sage.com\/en-au\/blog\/author\/keirthomasbryant\/\">\n\t\t\t\t<img decoding=\"async\" alt=\"\" src=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2020\/05\/keir-blue-tie-rounded_med_hr-150x150-1.png\" class=\"entry-author__image\" height=\"40\" width=\"40\" fetchpriority=\"high\" \/>\t\t\t\t<span class=\"entry-author__name\">Keir Thomas-Bryant<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n<p>Australian federal and state\/territory governments have announced economic stimulus packages for businesses impacted by the coronavirus (COVID-19) outbreak.<\/p>\n\n\n\n<p>This article details the government financial support available for your business, so you can keep it running during the pandemic.<\/p>\n\n\n\n<h1 class=\"wp-block-heading\" id=\"h-federal-government-financial-support\">Federal government financial support<\/h1>\n\n\n\n<p>The federal government&#8217;s stimulus package focuses on cash flow support through special payments and tax relief. Additional measures are available for businesses that employ workers to save jobs.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-cash-flow-boost-for-employers\">Cash flow boost for employers<\/h2>\n\n\n\n<p>Small and medium-sized businesses that employ staff, and have an aggregated turnover under $50 million based on prior year turnover, will be eligible for a special payment.<\/p>\n\n\n\n<p>You can receive a payment equal to 100% of the amount withheld on employee&#8217;s salary and wages, up to a maximum of $50,000.<\/p>\n\n\n\n<p>If you pay salary and wages but don&#8217;t withhold tax, you could still receive a minimum payment of $10,000.<\/p>\n\n\n\n<p>The payment will be delivered as a credit in the activity statement system from 28 April when businesses lodge activity statements.<\/p>\n\n\n\n<p>An additional payment of equal amount is planned for the July to October 2020 period \u2014 but your business must remain active in order to qualify.<\/p>\n\n\n\n<p>More details of the payment, including how it will work for quarterly and monthly lodgers, can be found on the <a href=\"https:\/\/business.gov.au\/Risk-management\/Emergency-management\/Coronavirus-information-and-support-for-business\/Boosting-cash-flow-for-employers\" target=\"_blank\" rel=\"noopener noreferrer\">business.gov.au site<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-subsidy-for-paying-apprentices-or-trainees\">Subsidy for paying apprentices or trainees<\/h2>\n\n\n\n<p>Small businesses with fewer than 20 full-time employees, as well as any sized employers who re-engage an eligible apprentice or trainee, could receive a 50% subsidy on the apprentice or trainee&#8217;s wages for nine months from 1 January 2020 to 30 September 2020. The maximum reimbursement is $7,000 per quarter.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-business-support-through-tax-relief\">Business support through tax relief<\/h2>\n\n\n\n<p>A range of coronavirus support is delivered by the ATO, including:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Increasing instant asset write-off. <\/strong>From 12 March 2020 to 30 June 2020, businesses with aggregated turnover of less than $500 million can immediately write off the cost of each asset costing less than $150,000.<\/li>\n\n\n\n<li><strong>Accelerated depreciation.<\/strong> Businesses with turnover of less $500 million can also accelerate their depreciation deduction, and deduct 50% of the cost of an asset on installation.<\/li>\n<\/ul>\n\n\n\n<p>The Australian Taxation Office also offers additional relief options on a case-by-case basis:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Payment deferrals.<\/strong> You can potentially defer your income tax, FBT and excise payment.<\/li>\n\n\n\n<li><strong>Changing your GST reporting cycle. <\/strong>If you report GST quarterly and are due a refund, it may be worth changing your GST reporting and payment cycle from quarterly to monthly to receive your GST credits sooner.<\/li>\n\n\n\n<li><strong>Varying PAYG instalments and getting refunds.<\/strong> If you are a PAYG instalment payer, you can apply to vary PAYG instalments and claim a refund for instalments made during the 2019\u201320 financial year.<\/li>\n<\/ul>\n\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Federal government support for businesses<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Visit Sage\u2019s dedicated hub to discover the full range of federal government financial assistance available for Australian businesses.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"https:\/\/www.sage.com\/en-au\/coronavirus\/\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\tid=\"cta-id-1838\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tdata-button-location=\"cta_box\"\n\t\t\t\t\t\t\t\t\t\t\t>Discover More<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t<\/div>\n<\/div>\n\n\n\n<h1 class=\"wp-block-heading\" id=\"h-state-territory-government-support\">State\/Territory government support<\/h1>\n\n\n\n<p>State and territory governments are also implementing separate economic survival packages to help businesses.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-australian-capital-territory\">Australian Capital Territory<\/h2>\n\n\n\n<p>The ACT government announced that businesses using less than 100 megawatts of electricity per year will receive a $750 rebate on their June\/July 2020 bill.<\/p>\n\n\n\n<p>Payroll tax will be waived for hospitality, creative arts and entertainment industries.<\/p>\n\n\n\n<p>ACT businesses with wages of up to $10 million can defer their 2020-21 payroll tax, interest free until 1 July 2022. <a href=\"https:\/\/www.act.gov.au\/business\/business-support\/covid-19-economic-support-for-business\" target=\"_blank\" rel=\"noopener noreferrer\">Visit the ACT government site<\/a> for the full list of support measures.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-new-south-wales\">New South Wales<\/h2>\n\n\n\n<p>The NSW government announced that employers with payrolls over $10 million will have payroll tax deferred for six months. Additional relief is provided by bringing forward the payroll tax threshold increase.<\/p>\n\n\n\n<p>A range of fees and charges will be waived for bars cafes, restaurants and tradies. <a href=\"https:\/\/www.service.nsw.gov.au\/campaign\/covid-19-help-small-businesses\/fee-waivers-and-tax-assistance\" target=\"_blank\" rel=\"noopener noreferrer\">Visit the NSW government<\/a> site for the full list of support measures.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-northern-territory\">Northern Territory<\/h2>\n\n\n\n<p>The Northern Territory government established the Small Business Survival Fund to make payments available for businesses impacted by physical distancing and shut down requirements. <a href=\"https:\/\/businessrecovery.nt.gov.au\/businesses\" target=\"_blank\" rel=\"noopener noreferrer\">Visit the NT government<\/a> site for the full list of support measures.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-queensland\">Queensland<\/h2>\n\n\n\n<p>Financial assistance provided by the Queensland government includes payroll tax relief in one or more of the following ways:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Refunds of payroll tax for two months;<\/li>\n\n\n\n<li>Payroll tax holiday for three months; and\/or<\/li>\n\n\n\n<li>Deferral of paying payroll tax for 2020.<\/li>\n<\/ul>\n\n\n\n<p>Coronavirus job support loans of up to $250,000 are also available. Interest free for the first 12 months, these loans are designed to help businesses remain open and retain staff.<\/p>\n\n\n\n<p>Sole traders, small and medium-sized businesses consuming less than 100 megawatts of electricity will receive a $500 rebate on their electricity bill.<\/p>\n\n\n\n<p>A number of fee waivers are available for tourism businesses.<\/p>\n\n\n\n<p>Commercial tenants on government premises will receive six months of rent relief. <a href=\"https:\/\/www.business.qld.gov.au\/home\" target=\"_blank\" rel=\"noopener noreferrer\">Visit the Queensland government site<\/a> for more information.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-south-australia\">South Australia<\/h2>\n\n\n\n<p>The South Australian government announced that employers with grouped wages up to $4 million could qualify for a six-month payroll tax waiver. <a href=\"https:\/\/www.business.qld.gov.au\/home\" target=\"_blank\" rel=\"noopener noreferrer\">Visit the South Australian government site<\/a> for more information.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-tasmania\">Tasmania<\/h2>\n\n\n\n<p>The Tasmanian government is providing loans from $20,000 up to $250 000 for eligible businesses.<\/p>\n\n\n\n<p>Businesses with payrolls less than $5 million will have payroll tax waived for the entire 2019-20 tax year.<\/p>\n\n\n\n<p>A $5,000 grant is available for a qualifying employer who hires an apprentice or trainee in the tourism, hospitality, building and construction, and manufacturing industries.<\/p>\n\n\n\n<p>A range of fees for tourism operators and liquor licensing will be waived or discounted. Visit the Tasmanian government site for the full list of support measures.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-victoria\">Victoria<\/h2>\n\n\n\n<p>In its <a href=\"https:\/\/www.localgovernment.vic.gov.au\/__data\/assets\/pdf_file\/0026\/167903\/Fact-Sheet-Vic-Gov-Business-Support-FINAL.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Economic Survival Package factsheet<\/a>, the Victorian government states payroll tax for the 2019-20 financial year will be waived for employers with annual taxable wages up to $3m. Payroll tax for the first quarter of 2020-21 can also be deferred.<\/p>\n\n\n\n<p>Renewable liquor license fees will be waived for 2020.<\/p>\n\n\n\n<p>Commercial tenants in government buildings could be granted rent relief.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-western-australia\">Western Australia<\/h2>\n\n\n\n<p>The Western Australian government announced that small businesses with a payroll between $1 million and $4 million could receive a one-off grant of $17,500.<\/p>\n\n\n\n<p>The payroll tax threshold increase to $1 million will be brought forward by six months to offer further relief. Small and medium-sized businesses can also apply to defer the payment of their 2019-20 payroll tax until 21 July 2020.<\/p>\n\n\n\n<p>Visit the Western Australian government site for the full list of support measures.<\/p>\n\n\n\n<div class=\"single-cta gated-content\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Watch our virtual event: &#8216;Leading through the COVID-19 crisis&#8217;<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p><!-- wp:paragraph --><\/p>\n<p>On 26 May, we held our first Sage Advice <em>Live<\/em> virtual event.<em>&nbsp;<\/em>Watch our video to hear from our panel on how their businesses have navigated the challenges of COVID-19, what the future business landscape will look like, and tips on how you can survive and thrive.<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>You&#8217;ll hear from:<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:list --><\/p>\n<ul class=\"wp-block-list\"><!-- wp:list-item --><\/p>\n<li>Cindy Nicholson, CEO, Braintree<\/li>\n<p><!-- \/wp:list-item --><\/p>\n<p><!-- wp:list-item --><\/p>\n<li>Mark Chapman, Tax Communications Director, H&amp;R Block<\/li>\n<p><!-- \/wp:list-item --><\/p>\n<p><!-- wp:list-item --><\/p>\n<li>Danielle Wood, Program Director, Grattan Institute<\/li>\n<p><!-- \/wp:list-item --><\/p>\n<p><!-- wp:list-item --><\/p>\n<li>Kerry Agiasotis, MD &amp; EVP APAC, Sage<\/li>\n<p><!-- \/wp:list-item --><\/p>\n<p><!-- wp:list-item --><\/p>\n<li>Mark Jones, Chief Storyteller &amp; CEO, Filtered Media (Host)<\/li>\n<p><!-- \/wp:list-item --><\/ul>\n<p><!-- \/wp:list --><\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-117927f0-95a9-4dae-9483-e0a557a62924\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Watch Video<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1215\" height=\"810\" src=\"https:\/\/www.sage.com\/en-au\/blog\/wp-content\/uploads\/sites\/5\/2023\/10\/GettyImages-1345137109-1215x810.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-au\/blog\/wp-content\/uploads\/sites\/5\/2023\/10\/GettyImages-1345137109-1215x810.jpg 1215w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Australian federal and state\/territory governments have announced economic stimulus packages for businesses impacted by the coronavirus (COVID-19) outbreak. This article details the government financial support available for your business, so you can keep it running during the pandemic. Federal government financial support The federal government&#8217;s stimulus package focuses on cash flow support through special payments [&hellip;]<\/p>\n","protected":false},"author":280,"featured_media":1892,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sage_video":false,"post_featured_image_hide":false,"footnotes":""},"categories":[78,73],"tags":[256,215,200],"business_type":[10,9],"context":[],"industry":[],"persona":[101,102,100,99],"imagine_tag":[255,40,39,44],"coauthors":[271],"class_list":["post-1836","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-money","category-money-matters","tag-business-continuity","tag-cash-flow","tag-small-business","business_type-small-business","business_type-medium-sized-business"],"sage_meta":{"region":"en-au","author_name":"Keir Thomas-Bryant","featured_image":"https:\/\/www.sage.com\/en-au\/blog\/wp-content\/uploads\/sites\/5\/2020\/04\/coronavirus-government-financial-support_resize.jpg","imagine_tags":{"255":"Business continuity","40":"Mid-sized business","39":"Small business","44":"Support"}},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Sage Advice Australia","distributor_original_site_url":"https:\/\/www.sage.com\/en-au\/blog","push-errors":false,"_links":{"self":[{"href":"https:\/\/www.sage.com\/en-au\/blog\/api\/wp\/v2\/posts\/1836","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sage.com\/en-au\/blog\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sage.com\/en-au\/blog\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-au\/blog\/api\/wp\/v2\/users\/280"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-au\/blog\/api\/wp\/v2\/comments?post=1836"}],"version-history":[{"count":0,"href":"https:\/\/www.sage.com\/en-au\/blog\/api\/wp\/v2\/posts\/1836\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-au\/blog\/api\/wp\/v2\/media\/1892"}],"wp:attachment":[{"href":"https:\/\/www.sage.com\/en-au\/blog\/api\/wp\/v2\/media?parent=1836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sage.com\/en-au\/blog\/api\/wp\/v2\/categories?post=1836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-au\/blog\/api\/wp\/v2\/tags?post=1836"},{"taxonomy":"business_type","embeddable":true,"href":"https:\/\/www.sage.com\/en-au\/blog\/api\/wp\/v2\/business_type?post=1836"},{"taxonomy":"context","embeddable":true,"href":"https:\/\/www.sage.com\/en-au\/blog\/api\/wp\/v2\/context?post=1836"},{"taxonomy":"industry","embeddable":true,"href":"https:\/\/www.sage.com\/en-au\/blog\/api\/wp\/v2\/industry?post=1836"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.sage.com\/en-au\/blog\/api\/wp\/v2\/persona?post=1836"},{"taxonomy":"imagine_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-au\/blog\/api\/wp\/v2\/imagine_tag?post=1836"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.sage.com\/en-au\/blog\/api\/wp\/v2\/coauthors?post=1836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}