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COVID-19 Government Assistance Programs at a Glance

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COVID-19 Government Assistance Programs at a Glance COVID -19 Assistance Programs At a glance 17 September 2021 Grant Grant Amount Available Key Eligibility Additional Provider Name Criteria Information Australian JobMaker $74 billion in Key proposed measures include: More information here. Federal Plan measures Lower taxes including an instant asset write-off Government - The proposed start dates for threshold and full expensing of depreciable assets each measure can be found here. - an additional $14 billion in new and accelerated infrastructure projects - $4 billion JobMaker Hiring Credit to incentivise businesses to take on additional employees aged between 16 and 35 years old additional $1.2 billion through the Boosting Apprenticeships Wage Subsidy to support up to 100,000 new apprentices and trainees Australian Assistance $1b is set aside for Includes: For air freight support you can Federal for affected distribution register an expression of interest $110m initiative to help agricultural and fisheries Government regions, to a range of - here until 30 September 2021. sector to export produce into key overseas communities programs. markets, with return flights bringing back medical To talk to a small business and supplies. financial counsellor find your industries local RFCS office here. - $12.7m for small regional businesses (19 employees or less) to access free and confidential financial counselling another $317.1 million was added in October to extend IFAM until 30 September Australian Instant $150,000 asset The instant asset write-off threshold has been This applies from 12 March 2020 Federal Asset Write- write-off increased from $30,000 to $150,000 and expanded until 31 December 2020, for Government Off (IAOW) access to include businesses with aggregated annual new or second hand assets first turnover of less than $500 million (up from $50 million). used or installed ready for use in this timeframe. More information here. ©2021 KPMG, an Australian partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private 1 English company limited by guarantee. All rights reserved. The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organisation. Liability limited by a scheme approved under Professional Standards Legislation. COVID-19 ASSISTANCE PROGRAMS At a glance Grant Grant Amount Available Key Eligibility Additional Provider Name Criteria Information Australian Insolvency The package of reforms features three key elements: These measures will commence Federal reforms to on 1 January 2021, subject to the A new formal debt restructuring process for small Government support small - passing of legislation. businesses to provide a faster and less complex business mechanism for financially distressed but viable More information is available firms to restructure their existing debts, here. maximising the chance of them surviving and contributing to economic and jobs growth. - A new, simplified liquidation pathway for small businesses to allow faster and lower-cost liquidation, increasing returns for creditors and employees. - Complementary measures to ensure the insolvency sector can respond effectively both in the short and long term to increased demand and to the needs of small business. Australian $500m $250k – $50m The new COVID-19 Export Capital Facility will target To register your interest apply Federal Loans for loans to established and previously profitable exporters here. Government exporters who, due to COVID-19, are unable to gain finance from commercial sources. Australian Statement of Protections for Not binding, however expectation that small business From 1 July 2021, AER standby Energy Expectation customers and the owners who indicate they are experiencing financial Statement will apply to the Regulator energy market stress to be offered a payment plan or hardship Greater Sydney local government exemptions. Includes expectation that no small business areas affected by the stay-at- owners will be disconnected without their agreement, or home orders announced by the any large business customer who is on-selling energy to NSW Government on 26 June residential/small-business customers, as well as debt 2021. collection deferrals. Standby Statement Further information here: https://www.aer.gov.au/publicati ons/corporate-documents/aer- statement-of-expectations-of- energy-businesses-protecting- consumers-and-the-energy- market-during-covid-19 Australian Restart Funding pool Grants between $75,000 and $2m are available to assist The grant opportunity Federal Investment of $75m companies in the arts and entertainment sector to commences 31 August 2020 and Government to Sustain restart, re-imagine or create new activities, including will close and Expand festivals, concerts and tours, that have been impacted to applications on 31 Dec 2021, (RISE) Fund by COVID-19. subject to allocation of funds. Applications will be accepted at any time between the opening and closing dates for the program. Application outcomes will be communicated approximately 10 weeks after submission. For further information on how to apply visit: https://www.grants.gov.au/?even t=public.GO.show&GOUUID=99 D4C251-0B6F-E562- 62B8FDDCCD79CC1A Australian Travel $100,000 Travel agents and tour arrangement service providers The Prime Minister has Federal support that have lost income due to COVID-19 may be eligible announced a second round of Government program for a one-off grant of $1500 to $100,000 under the the COVID-19 Consumer Travel Australian Government’s COVID-19 Consumer Travel Support Program will be Support Program. Funding will help eligible businesses available. Information will be continue trading and meet legal obligations to pay added to the below page shortly. refunds and credits to Australian consumers. https://www.servicesaustralia.go Businesses must have had an annual GST turnover of v.au/organisations/business/servi $50,000 to $20 million in the 2019 calendar year. ces/centrelink/covid-19- Additional eligibility criteria apply. consumer-travel-support-program ©2021 KPMG, an Australian partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private 2 English company limited by guarantee. All rights reserved. The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organisation. Liability limited by a scheme approved under Professional Standards Legislation. COVID-19 ASSISTANCE PROGRAMS At a glance Grant Grant Amount Available Key Eligibility Additional Provider Name Criteria Information Australian JobMaker The JobMaker Hiring Credit scheme is an incentive for Further information including Federal Hiring Credit businesses to employ additional young job seekers aged registration process can be found Government 16-35 years. here: Eligible employers can access the JobMaker Hiring JobMaker Hiring Credit | Credit for each eligible additional employee hired Australian Taxation Office between 7 October 2020 and 6 October 2021. (ato.gov.au) Australian SME The Government’s SME Recovery Loan Scheme is Further information can be found Federal Recovery designed to support the economic recovery, and to here: Government Loan provide continued assistance, to firms that received SME Recovery Loan Scheme | Scheme JobKeeper Treasury.gov.au Loans are available from 1 April 2021 until 31 December 2021. Australian VIC COVID- Where a lockdown has been imposed by a State or Further information can be found Federal 19 Support Territory Government for a period of less than seven via the following links: Government Package days, the Commonwealth will provide income support Vic COVID-19 support package | through the COVID-19 Disaster Payment Treasury Ministers Payments of $600 will be made to Individuals that lose COVID-19 Disaster Payment - 20 hours or more of work during the period of the Services Australia lockdown (the next five days), whilst payments of $375 will be made to Individuals that lose between 8 and up to 20 hours of work during the period of the lockdown. Australian NSW COVID- The Commonwealth will enhance and expand the Further information can be Federal 19 Support support available to NSW and other states that found here: Government Package experience an extended lockdown. Specifically, the NSW COVID-19 Support Package Commonwealth will: | Treasury Ministers - Make the COVID-19 Disaster Payment a recurring COVID-19 Disaster Support payment for approved recipients for as long as the Payment boosted | Treasury Commonwealth declared hotspot and lockdown Ministers restrictions remain in place. This will remove the need for recipients to re-claim for each seven- day period of a lockdown. - Amend the COVID-19 Disaster Payment so that a person would be eligible for the payment, including where they are still working, provided they have lost more than 8 hours or a full day of work. - From 18 July 2021 the COVID-19 Disaster Payment will be available to those outside Commonwealth declared hotspots in NSW that meet the criteria for the payment. The NSW Government will fund any payments outside a Commonwealth declared hotspot, with the Commonwealth continuing to fund payments to recipients in a Commonwealth declared hotspot. - From 2 August 2021, the weekly payment will increase from $600 to $750 per week for Individuals who have lost more than 20 hours of work, and from $375 to $450 for individuals who have lost less than 20 hours of work.
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