Last updated - 8 April 2020

The Government announced some sweeping assistance for businesses recently in relation to the Covid-19 pandemic. They were a little sweet then, however it keeps getting better - here's the full sugary deal as it currently stands:

1. Employers will receive a PAYGW cash flow boost - we think this one is super-sweet for our business clients:
   • - For businesses with a turnover of under $500M p.a. that employ staff will receive a minimum of $20,000 and a maximum of $100,000
   • - Basically, the government is now providing a cash incentive equal to 100% of your PAYGW bill for 6 months within the range above
     • * The pros of this benefit: You don't need to do anything it will be a cash refund automatically generated with the BAS - find out more about this benefit by downloading the Cash Flow Assistance for businesses fact sheet
2. Employer JobKeeper payment - read more here in JobKeeper - incentives explained
3. Employers for supporting apprentices and trainees - this is sweet too, but the devil is in the detail for this one - Cash Flow Assistance for businesses fact sheet
4. Instant asset write-off - this has been increased from $30,000 to $150,000 for assets bought or brought into use from 12 March 2020 to 30 June 2020.
   • -All businesses with a turnover of under $500M p.a. can access this - also super sweet
     • * The pros of this benefit: the asset purchased can be either new or second-hand - here's the detail on the increased Instant Asset Write-off Threshold

This is just a quick snapshot of business incentives to date; we will be watching any future announcements and update you as we go. In the meantime, maybe buy an ice-cream sundae or treat yourself and your local businesses...but it will have to be a takeaway as all Pubs, cafes, and restaurants have now been closed and are not permitted to offer in-house dining options. However, it goes without saying that we should all support them during these tough times as much as possible.