Business Resources

 

Key sources for important information

 

Weekly Live Q&A Recordings

 

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

Worker and Wellbeing Fund

The Worker and Wellbeing Fund can help you if you have lost your job or your income has been reduced because of coronavirus (COVID-19) and you are not already receiving financial and/or wellbeing support, including Centrelink benefits. This fund is complementary to initiatives already announced by the Northern Territory (NT) and Australian Governments.

International students and visa holders emergency relief

Red Cross have partnered with Melaleuca Refugee Centre to provide emergency relief for international students and visa holders and Territorians who have lost their job or their income has been reduced because of coronavirus (COVID-19)

Please contact Red Cross on +61 403 987 018 to access emergency relief and support

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. 

The Northern Territory Government announced the second stage of the $50 million Small Business Survival Fund last Thursday.. 

$20 million of this fund will go towards ongoing payments to help cover operational costs, such as support to:

  • cover regular costs such as rent and utilities
  • make invoice payments
  • keeping people in work who may not be eligible for the Federal Government’s JobKeeper payment, such as some casuals, recently-employed workers, and Visa holder workers

Full details are yet to be released and we will share these as they are made available. Media Release

 

Keep Territory Businesses Operating & Territorians Working

Last week the Chief Minister released details of a further $180 million in support for local business as part of the NT Government’s Jobs Rescue and Recovery Plan response to COVID-19; you’ll find details here


This $180 million assistance package involves:

  • Reducing payroll tax
  • Worker and Wellbeing Fund
  • Business Improvement Grants
  • Small Business Survival Fund – including the latest announcement of $20 million of this fund towards ongoing payments to help cover operational costs, such as keeping people in work who may not be eligible for the Federal Government’s JobKeeper payment, such as some casuals, recently-employed workers, and Visa holder workers (details of this element of the package will be released very soon)
  • Providing incentives for commercial landlords to reduce rents

This is unprecedented action to help protect Territory businesses and save Territory jobs during the coronavirus crisis and has been in part shaped by the intelligence the tourism industry has provided as this crisis has unfolded.

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 

  • A new program will deliver $20 million through the Business Improvement Grants program. These grants will help stimulate the economy and keep Territorians in jobs.
  • All Territory businesses will be able to access a $10,000 grant.
  • For work more than $10,000, the co-contribution by the Territory Government is limited to $10,000 on a dollar-for-dollar basis up to a maximum grant of $20,000.

  • Each business is only eligible to receive one grant, and it can be used to complete one or two different jobs on the premises.

  • The upgrades and purchases have to be from another Territory business.

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 Consults with KPMG

  • KPMG are there to deliver immediate and targeted business support to tourism operators
  • The program provides two hours of dedicated, confidential support from qualified KPMG consultants. 
  • For the first hour KPMG will review all the key business information. The second hour is to consult with you and provide advice and recommendations based on your current circumstances.

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.

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.

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.

JobKeeper Payment

  • If your business has been significantly impacted by the Coronavirus you will be able to access a wages subsidy to continue paying your employees. Under the JobKeeper program, you will be able to claim a fortnightly payment of $1,500 per eligible employee from 30 March 2020, for a maximum of six months. The payment ensures eligible employers remain connected to their workforce and will help businesses restart quickly when the crisis is over.
  • The JobKeeper payment is open to eligible employers to enable them to pay their eligible employee’s salary or wages of at least $1,500 (before tax) per fortnight. Eligible employers will be reimbursed a fixed amount of $1,500 per fortnight for each eligible employee. Employers will need to pay eligible employees a minimum of $1,500 (before tax) per fortnight to claim the JobKeeper payment. This will be paid to the employer in arrears each month by the ATO.
  • The first payments to eligible employers will commence in the first week of May 2020.
  • JobKeeper payments can be made for the period beginning 30 March 2020. If employers do not continue to pay their employees for each pay period, they will cease to qualify for the JobKeeper payment.
  • To be eligible for the JobKeeper payment, employers and their employees must meet a range of criteria.

Enrol for JobKeeper:

ato.gov.au/enrol-and-apply-for-the-jobkeeper-payment

Send Employee Nomination Notice to Employees:
ato.gov.au/Forms/JobKeeper-payment---employee-nomination-notice
View Information for Employers:
ato.gov.au/jobkeeper-payments/employers
View Information for Employees:
ato.gov.au/jobkeeper-payment/employees 

Migration for Business

  • COVID-19 information for temporary visa holders and sponsoring employers
  • The information on the NT Government website is updated regularly, and intended to help you with any general questions you may have in regards to temporary visas during the coronavirus (COVID-19) pandemic.
  • Fact sheet for general visa holders 

 Business Relief for Payroll, Power, Rent and Rates

The Territory Labor Government will deliver $180 million in additional support to Territory businesses as part of our Jobs Rescue and Recovery Plan.
We are:

  • Reducing payroll tax;
  • Reducing utilities bills;
  • Providing incentives for commercial landlords to reduce rents; and

Working with councils to reduce rates.

Protecting your business from cyber threats 

  • A new COVID-19 Protecting your small business guide has been released from the Australians Signals Directorate. The advice details the cyber security basics and practical steps to support businesses adapt to working during the COVID-19 pandemic.
  • The Australian Cyber Security Centre (ACSC) Small Business Cyber Security Guide provides specific information to help small businesses protect themselves from the most common cyber security incidents.
  • The ACSC also publish Step-by-Step guides to help you turn on security settings like multi-factor authentication and automatic updates on different online services, like email and Facebook, and different operating systems. These guides are useful to both individuals and businesses.

 

 

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