Dear Small Business
There is a lot of information here, but I’ve tried to make it accessible. It covers Commercial leases, land tax relief, support from Banks, relief with Gas and Electricity, JobKeeper for Sole Traders, Trustees, Partners and Directors (yes its not just employees who can receive the payment. If you know of any other great sources of information, please let me know.
- Julie Owens MP
Federal Government Coronavirus Information for Businesses
A solid source of information on Federal assistance for small business.
JobKeeper for Sole Traders & Others
It’s hidden way down in the fine print so: The Job Keeper payment is not just for the employees of a business or entity. It’s also available for a range of ‘eligible business participants’ who are not ‘employees’ including: sole traders, a partner in the partnership, an adult beneficiary of the trust, a shareholder or director in the company.
Evictions will be put on hold over the next 6 months for commercial and residential tenants in financial distress, who are unable to meet their commitments due to the impact of the coronavirus.
A mandatory code of conduct applies to tenants that are a small to medium sized business with an annual turnover of up to $50 million eligible for the JobKeeper payment (ie. where their turnover has reduced by a minimum of 30%)
But there is much more info on the Federal Government site.
Land Tax Relief
The NSW Government is offering Land Tax Relief.
Deferred Bank Loans
Banks will defer small business loan repayments for up to 6 months on business loans of up to $10 million.
This is available to landlords that opt in by contacting their banking institution directly.
Landlords who organise loan repayment deferrals must agree not to terminate leases or evict current tenants for missed rental payments as a result of COVID-19.
NSW Government: Small Business Help
The NSW Government’s page includes information on a range of support mechanisms:
The Small Business COVID19 Small Business Support Grant which will provide up to $10,000 to eligible NSW small business owners. The criteria are strict and include: The business will need to have between 1-19 employees and a turnover of more than $75,000
Relief With Gas & Electricity Bills
The Energy network has announced a suite of measures to assist businesses during the lockdown.
For eligible small businesses that are mothballed, electricity and gas network charges will not be applied from the start of April to the end of June 2020, if their consumption is less than a quarter what it was in 2019
Really Good Sources of Information
These are really good links. I strongly suggest that if you find them useful you do the right thing and subscribe or join. They are all free, but need strong subscriber and membership bases if we want them to be there next time we need them.
NSW GOVERNMENT GRANTS - https://www.service.nsw.gov.au/transaction/apply-small-business-covid-19-support-grant
CITY OF PARRAMATTA GRANTS - https://www.cityofparramatta.nsw.gov.au/council/covid-19-how-council-is-responding#business-support