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How are you supporting small businesses through coronavirus/covid-19?

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Initiate

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I have a number of clients that run small businesses and are very worried about cash flow and staying afloat. They don’t know if there is going to be enough money to pay their staff and pay the bills. There are so many message going around out there I no  longer know what’s right and what’s wrong.  Can someone tell me what support the government is giving small businesses right now to make ends meet? What do I tell my clients?

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ATO Certified

Community Manager

Replies 0

Hi @John-d,

 

We’re supporting small businesses who have been impacted by COVID-19 through:

 

•    Payment deferrals and low interest payment plans
•    Monthly GST credits
•    Variable PAYG instalments
•    Remitting interest and penalties incurred after 23 January 2020

 

The Australian Government has also announced a tax-free payment for businesses with a turnover of less than $50 million.

 

For more information, take a look at Support for sole traders and small business impacted by COVID-19 on ATO Community and Support for Business on Treasury’s website.

 

KylieS

 

 

3 REPLIES 3
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Best answer

ATO Certified

Community Manager

Replies 0

Hi @John-d,

 

We’re supporting small businesses who have been impacted by COVID-19 through:

 

•    Payment deferrals and low interest payment plans
•    Monthly GST credits
•    Variable PAYG instalments
•    Remitting interest and penalties incurred after 23 January 2020

 

The Australian Government has also announced a tax-free payment for businesses with a turnover of less than $50 million.

 

For more information, take a look at Support for sole traders and small business impacted by COVID-19 on ATO Community and Support for Business on Treasury’s website.

 

KylieS

 

 

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Newbie

Replies 1

I have not listen yet any news about it. If some one knows please let me know as well

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Community Manager

Replies 0

Hi @frankman,

 

We have all the information regarding The Australian Government's economic response to COVID-19 (novel coronavirus)

 

You can also visit Services Australia regarding Government payments for those affected.

 

Thanks

 

KylieS