In order to help businesses retain their employees and improve business confident, The Government support eligible businesses with two measures, including small and medium businesses.
BOOSTING CASH FLOW FOR EMPLOYERS
- The Australian Taxation Office (ATO) will provide a minimum payment of $2,000, with a maximum of $25,000 for eligible businesses.
- From 28 April 2020, the payment will be delivered by ATO as a credit in the activity statement system.
- The payment will be tax free.
SUPPORTING APPRENTICES AND TRAINEES
- The Government will support a wage subsidy of 50 per cent of apprentice's or trainee's wage paid for small business employing fewer than 20 full-time employees.
- During 9 months, From 1 January 2020 to 30 September 2020, the subsidy will be available.
- The apprentice or trainee must have been in training with a small business as at 1 March 2020.
FOR MORE INFORMATION:
The Australian Government’s Economic Response to Coronavirus visit treasury.gov.au/coronavirus.