Support for businesses and employers
Support available during COVID-19 includes the following.
If you’re worried you won’t be able to pay on time or you’ve already missed a due date, we have a range of options to support you – see Help with paying.
On this page
See also
COVID-19 business support – NSW
For information on the financial support available to businesses impacted by the recent NSW COVID-19 restrictions and stay-at-home orders, visit Service NSWExternal Link.
Rent or lease payment changes due to COVID-19
There may be tax implications when you give or receive rent concessions as a result of COVID-19. See Rent or lease payment changes due to COVID-19.
JobKeeper Payment
The JobKeeper Payment scheme finished on 28 March 2021. The scheme has been amended so we can make a JobKeeper payment to some entities in limited circumstances after 31 March 2022.
JobMaker Hiring Credit
The JobMaker Hiring Credit scheme is an incentive for businesses to employ additional young job seekers aged 16 to 35 years old.
Eligible employers can access the JobMaker Hiring Credit for each eligible additional employee they hire between 7 October 2020 and 6 October 2021.
Registrations for the scheme opened on 6 December 2020.
Employers:
- only need to register once
- must register before they can claim payments of up to
- $200 a week – for each eligible additional employee aged 16 to 29 years old inclusive.
- $100 a week – for each eligible additional employee aged 30 to 35 years old inclusive.
Payments will be made in arrears following each JobMaker period.
For more information see:
Boosting cash flow for employers
We will provide tax-free cash flow boosts of between $20,000 and $100,000 to eligible businesses, delivered through credits in the activity statement system, when eligible businesses lodge their activity statements. See how to Access cash flow boosts.
Increasing the instant asset write-off
From 12 March 2020 until 31 December 2020, the instant asset write-off:
- threshold is $150,000 (up from $30,000)
- eligibility range covers businesses with an aggregated turnover of less than $500 million (up from $50 million).
Businesses with a turnover of $500 million or more are not eligible to use instant asset write-off.
From 1 January 2021, the instant asset write-off will only be available for small businesses with a turnover of less than $10 million and the threshold will be $1,000.
For more information see Instant asset write-off for eligible businesses
Backing business investment
Businesses with an aggregated turnover of less than $500 million are able to accelerate their depreciation deductions on the purchase of certain new depreciable assets.
This applies to eligible assets acquired and first used or installed ready for use from 12 March 2020 until 30 June 2021.
Flexible lodgment support for Victorians
Eligible activity statements due to be lodged in August 2020 or September 2020 can be lodged late without incurring late lodgment penalties or affecting your lodgment record.
This does not apply to:
- instalment notices (Forms R, S, T and N)
- large market clients
- significant global entities
- large withholders
- large excise clients.
Our large business specialists can consider requests for large entities not included in the flexible lodgment arrangement.
The general interest charge (GIC) will continue to apply to any late payments. If you're worried you won’t be able to pay on time, or have already missed a due date, contact our large business support team or your tax professional as early as possible to discuss your situation.
Companies with substituted accounting periods
If your company has an approved substituted accounting period (SAP) for an early balance date and is entitled to a refund, you can lodge your company tax return before the lodgment due date and receive a refund immediately if the company both:
- is a full self-assessment taxpayer
- has an approved SAP with a balancing period that has concluded.
For example, if you have an approved SAP with an early balancing period ending on 31 December 2019, your ordinary lodgment due date would be 15 July 2020. If you choose to lodge your 2020 tax return before that date, you can receive your refund immediately.
However, if you have a debt with us and you are due to receive a refund, we are required by law to use the refund or credit to reduce your debt. If you don’t want this to happen, contact us to discuss your circumstances.
Tools and services for small businesses
We have a range of tools and services to help make it easier for you to get your tax and superannuation right. This includes our Tax Time 2020 toolkit for small business, calculators and learning resources. For more information, see Supporting your small business.
Support during COVID-19 including JobKeeper Payment, boosting cash flow for employers, increasing the instant asset write-off, backing business investment and more.