Navigating COVID-19 coronavirus stimulus measures and announcements

2 April 2020

 

During recent days and weeks, there have been a number of announcements made by the Federal, State, and local governments. Private businesses have also offered various forms of assistance.

Do you know where to access the latest information?

The below resources contain links to essential and up-to-date information from the direct sources of government.

In addition, as a useful start, we include an interactive stimulus eligibility tool that may assist in deciphering what Federal/State/Brisbane City Council measures may apply to you.

Interactive Stimulus Eligibility Tool 

This tool will help you determine what types of government assistance are available to you

https://nexia.com.au/coronavirus-stimulus-eligibility-tool
Federal Government

Find up-to-date financial assistance, eligibility and timing for the new government support for Australian businesses – in a simple and easy to read format

https://www.business.gov.au/Risk-management/Emergency-management/Coronavirus-information-and-support-for-business

 

Queensland Government   

Find coronavirus information and assistance for businesses from the Queensland and Australian Governments

https://www.business.qld.gov.au/home

https://www.business.qld.gov.au/__data/assets/pdf_file/0024/290715/coronavirus-covid-19-business-support.pdf

also visit websites of other States and Territories if you operate in other jurisdictions

 

Brisbane City Council  

Coronavirus: Support for Brisbane businesses

https://www.brisbane.qld.gov.au/business-in-brisbane/coronavirus-support-for-brisbane-businesses

 

The Australian Taxation Office

Information about ATO measures and tailored support during COVID-19

https://www.ato.gov.au/General/COVID-19/

 

Check-in: Have you considered taking these steps yet?

These are some things you can do now during COVID-19 to support your business:

  1. Contact your tax advisor/agent/accountant to understand how the stimulus measures impact you and whether you are eligible. Sign up for free webinars and resources prepared by reputable firms.
  2. Understand what applications or registrations and timing you need to pro-actively pursue in order to benefit from the measures.
  3. Register for your interest in the JobKeeper Payment via the ATO’s website.
  4. Keep your financial records up to date to ensure timely availability of information. This will also come in handy when applying for the JobKeeper Payment (further details to be released).
  5. Contact the Australian Taxation Office (ATO) if you are experiencing difficulties in meeting any of your tax obligations – the ATO are administering many of the stimulus measures and are here to help.
  6. Contact your bank lender to discuss any assistance they can provide.
  7. Research whether your utility and internet service providers and any of your other suppliers are offering assistance.
  8. See more tips recommended by CPA Australia here.

Disclaimer: The purpose of this communication is to provide some useful resources and general information only. BNE Enterprise does not provide financial or professional advice in relation to any of the above matters.