COVID-19 Frequently Asked Questions

What are my options if I need to let employees go when the business can’t afford to retain them? It will depend on your industry and your individual business circumstances. The Fair Work Ombudsman's website provides some guidance,…

Support for employers

ASSISTANCE TO HELP PAY WAGES OF APPRENTICES AND TRAINEES Eligible employers can apply for a wage subsidy of 50 per cent of the apprentice’s or trainee’s wage paid during the 9 months from 1 January 2020 to 30 September 2020. Where a…

NSW State Government Stimulus Package

BUSINESS SUPPORT AND JOBS The NSW State Government announced the following stimulus packages on 17th March 2020: $450 million for the waiver of payroll tax for businesses with payrolls of up to $10 million for three months (the rest of…

Business Stimulus Package

ENHANCING THE INSTANT ASSET WRITE-OFF The government is increasing the instant asset write-off (IAWO) threshold from $30,000 to $150,000 and expanding access to include businesses with aggregated annual turnover of less than $500 million…

Income Support for Individuals

INCREASED AND ACCELERATED INCOME SUPPORT The Government is temporarily expanding eligibility to income support payments and establishing a new, time-limited Coronavirus supplement to be paid at a rate of $550 per fortnight. This supplement…

Superannuation changes

NEW SUPERANNUATION MEASURES As part of the COVID-19 Stimulus Package, the Federal Government has announced the following measures in relation to superannuation:- Sole Traders and Individual taxpayers in "Financial distress" as a result…