Government Support

You could be eligible for a tax rebate or cash payment.

In response to the COVID-19 pandemic, the Australian Government has announced several initiatives to assist individuals and businesses through these trying times.

Whilst this is not an exhaustive list of the measures the Government is initiating, we will take you through some of the more relevant programs for our clients. It is also important to note that at time of publishing, these proposed measures are yet to be legislated so, we cannot guarantee these details are correct or final.

We will take you through each of the following changes so you know which incentives you may be eligible for.


For businesses, these are the new initiatives:


For individuals, you could be eligible for:


Business Cashflow Assistance – boosting cashflow for employers


The aim of this assistance package is to support cashflow challenges faced by businesses; more specifically to allow businesses to retain their employees and continue to pay their wages.

For more information on the proposed Cashflow Assistance for employers, see this fact sheet from the ATO.


Business Cashflow Assistance – supporting apprentices and trainees


This assistance will assist small businesses in retaining their apprentices/trainee’s over difficult months ahead. If there is no opportunity to retain your apprentices/trainees, there is support in place to organise re-employment of those individuals.

For more information on the proposed Apprentice/Trainee Support assistance, see this fact sheet from the ATO.


Instant Asset Write Off increase (IAWO)


This IAWO increase will back businesses to invest in the economy to help recover from the economic impact of COVID-19.

For more information on the proposed IAWO increase, see this fact sheet from the ATO.


Backing Business Investments


This accelerated depreciation deduction scheme will allow businesses to purchase equipment, support the economy, and lower taxes over the next financial year.

For more information on the proposed Backing Business Investments scheme, see this fact sheet from the ATO.


Other business-related support

Along with the above-proposed measures, the ATO has also released a list of optional relief support,  available to certain businesses facing financial difficulties.

These support options include payment deferrals, GST cycle changes, and credits, Pay As You Go (PAYG) installment variations, and low-interest tax re-payment plans.

Of particular interest is the support offered to PAYG payers. If you pay quarterly PAYG installments, you can lodge a revised activity statement for the March 2020 quarter, to vary your installment payment and potentially claim a refund for payments already made.

For more information about PAYG variations and other relief support options for businesses, visit the ATO website here.


House Hold Stimulus payments


In order to support lower-income Australians, pensioners, and income support recipients, this stimulus payment will be made to assist the increased demand on the economy.

For more information on the proposed House Hold Stimulus payment, see this see here from the ATO.

  If you believe you qualify for any of these proposed initiatives summarised above and would like to know more information specific to your situation please contact us and we will be happy to help.

Again, it is also important to note that at the time of publishing, these proposed measures are yet to be legislated so we cannot guarantee they will be enacted according to these details.

There is talk of an additional stimulus package on the agenda and soon to be announced, however, this has not been confirmed at the time of posting this article. As this is passed and comes to fruition, we will update you. You can stay informed here.

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