We have summarised below various Government Covid19 virus stimulus for Small to Medium Enterprises (SME) that may be considered in order to assist with Cash flow in your businesses in these unprecedented times;

Job Keeper Payment

A wage subsidy of $1,500 per eligible employee ie full time, part time or Casual working 12 months, is available from 30 March 2020 for a period of six months.

In order to be eligible;

• Business turnover needs to have reduced by more than 30% relative to a comparable period a year ago (of atleast a month)

• Employees must have been active on 1 March 2020 and currently employed

• Business must continue to be active.

• If the above apply, then please ensure that you register the Employer/ Entity’s interest, in the first instance, on the ATO website using the following link;

https://www.ato.gov.au/general/gen/JobKeeper-payment/

Once the government has the program up and running, an online application will be made available and will need to be completed.

“Cash flow assistance for employers”

Stimulus package where ATO will be refunding PAYGW up to a max of $100,000 for Small to Medium Enterprises (SME) with turnover below $50m.

The ATO will refund 100% of your PAYGW declared in your March and June 19 BAS up to a maximum of $50,000.

This will happen automatically upon lodgement of your March 2019 and June 2019 BAS. A minimum payment of $10,000 is payable.

A second payment will be made from 28 July 2020. Eligible entities will receive this additional payment equal to the total of all of the first March and June 19 payments received ie a minimum of $10,000 or your PAYGW up to max of $50,000.

State Incentives

(click state incentives header for full summary)

A fact sheet summarising the stimulus incentives introduced by the SA Government, is attached for your perusal.  Contact our office if there is an incentive that applies to you and you wish to discuss further.

Full List Stimulus

The following Treasury link describes all incentives available for your reference.

https://treasury.gov.au/coronavirus/businesses

Please do not hesitate to let me know if you have any queries, require further information or assistance.