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  • Support for businesses and employers

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    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. Visit Help with paying.

    JobKeeper Payment

    The JobKeeper Payment is open to eligible employers so they can continue to pay their eligible employees and restart quickly when the COVID-19 crisis is over.

    To be eligible for the JobKeeper Payment, you and your employees must meet a range of criteria.

    Sole traders can apply for JobKeeper Payment in ATO online services accessed through your myGov account.

    Businesses and not-for-profit organisations can apply for JobKeeper Payments in the Business Portal accessed using their myGovID app (this is different to myGov).

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    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.

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    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.

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    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.

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    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 us or your tax professional as early as possible to discuss your situation.

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    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.

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    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.

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    Last modified: 07 Oct 2020QC 62024