Financial support

Many small businesses have had to completely change the way they operate since COVID-19 and the subsequent impacts to businesses. We have to move online, reduce services and even temporarily (or permanently) shut our doors.

Things are moving very quickly, and it’s important that you understand the financial support and entitlements that you have available.

The ATO is providing temporary cash flow, which is automatically credited to businesses when they complete their BAS statements (either monthly or quarterly). See more information about the ATO’s cash flow boost for employers.a

The ATO is also offering:
– instant asset write off
– business investment incentives
– temporary early release of superannuation.

You can read more about this on the ATO page on the Government’s response to coronavirus.

JobKeeper payments

If your business has taken a significant financial hit from coronavirus, you may be eligible for JobKeeper payments. You can register your interest for JobKeeper payments, and the ATO will get in touch with you.

Other resources and support

Coronavirus SME Guarantee Scheme

The Australian Government will provide a guarantee of 50% to small business lenders for new unsecured loans to be used for working capital, so you can secure funds to sustain your business.

The Australian Tax Office general COVID-19 information page

This is an overview of information plus links around the financial support available.

Supporting apprentices and trainees

Information on providing financial support for apprentices and trainees.

Tasmanian government stimulus and support for coronavirus

This overview keeps you up to date on what our government is doing to provide financial support.