Government Response to Coronavirus

Attention Small Business Owners!

Government Economic Response to Coronavirus

I urge all businesses to immediately contact your accountant in order to fully understand the implications for your business of the government's economic response to the Coronavirus. This is a crucial time for survival and the deadline is 31st March. A good accountant will gladly support you and should not charge for a quick phone call.

The Government is now providing up to $100,000 to eligible small and medium sized businesses, and not-for-profits (including charities) that employ people, with a minimum payment of $20,000. On 12 March 2020, the Government announced the Boosting Cash Flow for Employers measure. The measure initially provided up to $25,000 to business, with a minimum payment of $2,000 for eligible businesses. Small and medium sized business entities with aggregated annual turnover under $50 million and that employ workers are eligible.

For more information go to https://treasury.gov.au/coronavirus