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Eurobodalla Business News

In these extremely trying times, Council's business development and tourism team will endeavour to keep you up to date on assistance available to small businesses.  As the situation changes we also urge you to follow advice from the following agencies. The lead agencies for this situation are NSW Health and the  Australian Government Department of Health.  Employers and sole traders are well advised to keep themselves informed of this situation.   Important information for small business owners from the office of Small Business Commissioner: https://www.smallbusiness.nsw.gov.au/get-help/covid-19-coronavirus-information-small-business-owners SUPPORT FOR SMALL BUSINESSES The Australian Banking Association has announced that Australian banks will defer loan repayments for small businesses affected by COVID-19 for 6 months. Sole Traders If you are a sole trader and do not employ any staff you are eligible for increased and accelerated income support. The Government is temporarily expanding eligibility to income support payments and establishing a new, time-limited Coronavirus supplement to be paid at a rate of $550 per fortnight. This supplement will be paid to both existing and new recipients of the eligible payment categories. These changes will apply for the next six months. SME Guarantee Scheme This will provide businesses with funding to meet immediate cash flow needs, by further enhancing lenders’ willingness and ability to provide credit. Businesses with a turnover of up to $50 million will be eligible to receive these loans. Early access to superannuation Access up to $10,000 of your superannuation in 2019-20 and a further $10,000 in 2020-21. Apply for early release of your superannuation from mid-April 2020. Tax support The Australian Tax Office (ATO) is providing relief for some tax obligations for businesses affected by the outbreak, on a case-by-case basis. Contact the ATO’s Emergency Support Infoline for businesses on 1800 806 218 for more information or to request this help. The increased instant asset write-off Under normal circumstances, individual assets less than $30,000 are eligible for the instant asset write off. The Government has lifted this threshold to $150,000 for assets that are either installed or ready for first use by 30 June 2020. Backing Business Investment (BBI) Businesses with a turnover of less than $500 million will be able to deduct 50 per cent of the cost of an eligible asset on installation, with existing depreciation rules applying to the balance of the asset’s cost. SUPPORT FOR EMPLOYEES If you employ staff, you may be eligible for: Temporary cash flow support Employers will receive a payment equal to 100 per cent of their salary and wages withheld (up from 50 per cent), with the maximum payment being increased from $25,000 to $50,000 and the minimum payment increased from $2,000 to $10,000. An additional payment is also being introduced meaning eligible businesses will receive at least $20,000 up to a total of $100,000 under both payments. Not-for-profit entities will also be eligible. Assistance to help pay the wages of apprentices or trainees Eligible employers can apply for a wage subsidy of 50 per cent of the apprentice’s or trainee’s wage paid during the 9 months from 1 January 2020 to 30 September 2020. Where a small business is not able to retain an apprentice, the subsidy will be available to a new employer. Employers will be reimbursed up to a maximum of $21,000 per eligible apprentice or trainee ($7,000 per quarter). Casual employees If you employ a casual employee and they can’t work because they become sick or need to self-isolate, or their income has been otherwise impacted by the economic downturn caused by the coronavirus, they may be eligible for income support payments. The Government is making these payments quicker to access by waiving the usual waiting period in certain circumstances. Information on income support is available on the Services Australia website. BUSHFIRE GRANTS FOR LOSS OF INCOME New $10,000 grants for small businesses funded by the Australian Government. Applications are now open. You apply by calling NSW Government Hotline on  13 77 88. Purpose: Help business cover the costs associated with recovery following the fires. Key points: Your revenue must have dropped by 40 per cent over a three-month period, compared to the previous year, as a result of the bushfires. You can be directly or indirectly affected by the bushfires. Spend it on:  Money must be spent on expenses such as salaries, wages, utilities, fuel and/or financial advice. INDUSTRY DEVELOPMENT (open to everyone) While we are all experiencing the effects of partial or full social distancing, Council's business development and tourism team is planning a series of online industry development sessions combining webinars, modules, and Zoom/Skype sessions.  The first series will begin week commencing 20 April. Daily topics will include:    -  Monday 20 April :   Listing business and events on ATDW     -  Tuesday 21 April:   How to use CANVA online design    -  Wednesday 22 April:   Instagram: set up a page    -  Thursday 23 April:   Facebook: set up a page    -  Friday 24 April:   Google listings and ads We will communicate live workshop time and resource materials and details via this newsletter during the week prior. If you would like other topics considered, please email sarah.cooper@esc.nsw.gov.au  More information will be available shortly. BOOSTING FEMALE FOUNDERS Female business owners can access early stage capital to grow their startups in national and international markets, thanks to a new federal government program called Boosting Female Founders. The program will provide grants between $25,000 and $400,000 on a co-contribution basis to successful applicants. It will run over three years from 2020–21 to 2022–23, with $6 million available for Round One. Eligible expression of interests will be accepted until 14 April 2020 5pm. FEE-FREE TRAINING (eligibility applies) TAFE NSW Moruya has fee-FREE training available for bushfire affected communities. Training including Espresso Coffee Making Skills, First Aid, RSA, RCG and Farm Fencing. Call 131 601 for more information.  JOBS IN EUROBODALLA Council's Employment Revolution project team compiles a list of job vacancies every week. There are currently 20 job vacancies predominantly in health care services. Businesses wishing to recruit staff can contact Amy Kovacs  T 4474 7380 or email  employmentprojects@esc.nsw.gov.au LOCAL HELP AVAILABLE Your local Business Connect Business Advisory Service is available to help you:  call Paul Coker on 0400 843 212 or email paul@srbec.com.au Service NSW also offer a local Business Concierge Service:  Contact Lee Smith on 0400 247 657 or email lee.smith@service.nsw.gov.au Your Council Business Development and Tourism team:     Liz Rankin – 0400 652 613     Tim Booth - 0418 168 618 - tourism enquiries     Sarah Cooper – 0458 459 863 – for business assistance enquiries. Please share this newsletter with other businesses who might not be connected with us.   You might also be interested in Tourism newsletter 25 March


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