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Business Resources

 

Key sources for important information

 
If you are out of work 

Job Seeker Allowance 

  • If you don’t have a job you can access the Job Seeker (Newstart) Allowance of $550 per fortnight.
  • From 27 April you can also access an additional Coronavirus allowance of $550 per fortnight if you receive the Jobseeker, Youth and Farm Household allowances, Parenting Payment and Special Benefits.
  • There will be streamlined access to Services Australia, removal of some requirements and reduced means testing and waiving of waiting times

Access your super

  • You can access up to $10,000 from your superannuation balance before 30 June, and up to $10,000 between July and October.

Territory Jobs Hub 

  • Free for employers and employees. Easy to participate online

 

Help for your business 

NT Government $50 million Small Business Survival Fund 

The Territory Labor Government will deliver a $50 million Small Businesses Survival Fund to help Territory businesses survive the unprecedented economic impacts of the coronavirus outbreak.  The Small Business Survival Fund is specifically targeted to support industries such as hospitality, restaurants, tourism and entertainment businesses who are bearing the brunt of this national crisis. The grant program will be open for applications from Friday 27 March. 

Boosting Cash Flow

  • Small business can claim back 100% of tax withheld to a maximum of $50,000.
  • Between July and October you can make a second claim, making the assistance available up to $100,000.
  • Any organisations that don’t withhold tax, can recover a minimum payment of $10,000

Supporting the flow of credit 

  • A guarantee of 50% to small business lenders for new unsecured loans for working capital.
  • You can borrow up to $250,000 for up to three years with an initial six month repayment holiday

Six month loan repayment deferrals for small businesses 

  • Australian banks will defer loan repayments for small businesses affected by COVID-19 for six months.
  • This Assistance Package will apply to more than $100bn of existing small business loans and depending on customer take up, could put as much as $8 billion back into the pockets of small businesses as they battle through these difficult times. 

Jobs Rescue & Recovery Plan 

  • The Northern Territory (NT) Government is delivering a Jobs Rescue and Recovery plan to help stimulate the economy and keep Territorians in jobs.
  • This package is the second phase of the response to the significant economic impact of COVID-19, and is complementary to initiatives offered by the Australian Government to all jurisdictions.

Business Improvement Plan 

  • Territory businesses will be able to access a $10,000 grant, followed by an additional $10,000 grant if they contribute $10,000.
  • Registrations for businesses to provide services open 30 March 2020. Businesses can apply for a grant from 13 April 2020.

Tourism Business Survival, Revival & Growth (BECNT)

  •  This specifically tailored support Program will be intensive in nature, focusing on increasing revenue; increasing the number of visitors (customers); increasing the average visitor spend; reviewing prices; or lowering business expenditure.

Business Support Seminars & Consults 

  • Northern Territory Major Events Company (NTMEC) and Tourism NT in conjunction with KPMG are holding two online seminars to help local business owners in the events and tourism industry manage the current COVID-19 crisis.

  • The seminars will cover a broad range of topics including how to plan for a COVID-19 recovery, putting people safety first, communicating with stakeholders, cash flow strategies, using the Risk Assessment Tool and much more.

    Please submit your expression of interest and gather the relevant documents as soon as possible to access this support. The program is limited to a few hundred positions. 
  • Dates: Monday March 30th, Wednesday April 1st

Coronavirus SME Guarantee Scheme 

  • Under the Scheme, the Government will provide a guarantee of 50 per cent to small and medium enterprise (SME) lenders for new unsecured loans to be used for working capital.
  • This will enhance these lenders’ willingness and ability to provide credit, which will result in SMEs being able to access additional funding to help support them through the upcoming months.

Instant asset write off 

  • The instant asset write-off threshold has been increased from $30,000 to $150,000 and expanded access to include businesses with aggregated annual turnover of less than $500 million (up from $50 million).
  • This applies from 12 March 2020 until 30 June 2020, for new or second‑hand assets first used or installed ready for use in this timeframe.

Small Business Champion Support - (DTBI & NTG) 

  • If you are a Northern Territory (NT) business, Aboriginal enterprise or not-for-profit, you can get help from a small business champion.
  • A small business champion can help you identify the types of support your business can access.
  • You can also get support with networking, contacts, information, tools and resources.

NEW Power & Water offering payment extensions 

  • As an essential services provider, Power and Water has a range of measures in place to manage the impacts of COVID-19.  
  • Residential and commercial customers facing hardship as a result of COVID-19 can request a payment extension to allow more time to pay their bill.

 NEW Supporting sole traders through the effects of Coronavirus

  • The Morrison Government is expanding the eligibility criteria for JobSeeker Payment to support sole traders and Australians who are self-employed if their income is negatively affected by the economic impact of the Coronavirus.
  • Under temporary changes to social security rules, sole traders will be encouraged to keep their business operating but may be able to access income support should their earnings take a significant hit.

 

 

Helpful Reads


Hotlines and Contacts

  • Free business advice through the Business Enterprise Centre on 1800 229 500
  • Direct support through Small Business Champions on 1800 193 111
  • National advice hotline 1800 020 080
  • Chamber of Commerce NT 8982 8188
  • Department of Trade, Business and Innovation 1800 193 111
  • National Debt Helpline 1800 007 007