Eligible small businesses will receive a Boost Cash Flow for Employers of up to $25,000 (with a minimum payment of $2,000). The payment will provide cash flow support to businesses with a turnover of less than $50m that employ staff, between 1 January 2020 and 30 June 2020. The payment will be tax free. This measure will benefit around 690,000 businesses employing around 7.8m people.
Businesses will receive payments of 50% of their BAS or IAS from 28 April 2020 with refunds to be paid within 14 days.
Small businesses will also receive a total of $1.3bn to support the jobs of 120,000 apprentices and trainees. Eligible employers can apply for a wage subsidy of 50% of the apprentice’s or trainee’s wage for up to 9 months from 1 January 2020 to 30 September 2020. Where a small business is not able to retain an apprentice, the subsidy will be available to a new employer that employs that apprentice.
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