The Treasurer, Josh Frydenberg, has registered the
amended legislative instrument governing the rules of
JobKeeper 2.0 (effective 28 September 2020). This broadly
confirms what was outlined in Treasury’s Fact Sheet but
there is always important detail included. We still are
awaiting legislative instruments from the Commissioner of
Taxation in relation to alternative turnover tests and
alternative test periods for hours of work. We will be
developing resources to assist our clients in navigating the
JobKeeper extension. However, we strongly recommend
contacting us to discuss the extension and what it means for
you. We will be making contact with clients over the next
few weeks in relation to the key matters.
Victorian Government "Business
Survival and Adaption Package"
The Victorian Government has announced an investment of
$3 billion to help businesses and not for profits impacted
by ongoing restrictions in the form of business support and
adaptation packages, as well as waivers and deferrals.
Under this heading, the major ticket item is the
third round of the Business Support Fund. The third
round offers grants ranging from $10,000 to $20,000 to each
eligible business or not for profit depending on the annual
The key criteria to be eligible is similar
to the previous Business Support Fund rounds, however, your
organisation needs to be in an industry sector on this
list. Broadly this means that they are in the
Restricted, Heavily Restricted or Closed restriction levels
that will not be eased between steps 1 and 2. They have also
expanded the payroll threshold criteria to include
organisations with an annual payroll of below $10 million in
the 2019-20 financial year (previously below $3 million).
The other eligibility criteria include that your
business or organisation must employ people, be registered
for GST on 13 September and be registered for WorkCover,
have a payroll of less than $10 million and be enrolled for
the JobKeeper program. Applications opened on Friday 18
The second item of note under Business Support is
the fact that for the first time there will be a
Sole Trader Support Fund worth up to $100 million.
Grants of up to $3,000 will be available to over 30,000
eligible sole traders who operate from a commercial premises
or location to which the sole operator is the tenant or
They have also announced support for
Licensed Hospitality Businesses, a competitive grants
program Business Chambers and Trader Groups, grants for
Alpine businesses of up to $20,000 to help them pay a
service charge to Alpine Resort Management Boards.
This is designed to help businesses adapt to the changing
environment and includes a voucher program to assist sole
traders and small businesses in building their digital
capability and other support packages to help exporters,
build on the ‘Click for Vic’ campaign, hospitality
businesses and the Melbourne City Recovery Fund between the
Victorian Government and the City of Melbourne.
Waivers and Deferrals
They have also announced a series of waivers and
deferrals, to various levies, state based taxes and license
fees. The main item to note is that they will defer payroll
tax for businesses with payroll up to $10 million for the
full 2020-21 financial year.
More information on all
measures is available here:
If your business has been affected by COVID, it is
likely that you would be eligible for one or more of the
above assistance packages. Our message would be – don’t
assume you are not eligible!