March 13th, 2020

Coronavirus Support for Business

Boosting cash flow for employers
Provides $25,000 back to small and medium-sized businesses, with a minimum payment of $2,000 for eligible businesses.  The payment will be tax free.
The payment will be delivered via the March & June Activity Statement for quarterly lodgers and March, April, May & June Activity Statement for monthly lodgers.
Eligible businesses that withhold tax to the ATO on their employee’s salary and wages will receive a payment equal to 50% of the amount withheld, up to a maximum payment of $25,000.
For more information see boosting-cash-flow-for-employers
Increasing the Instant Asset Write-Off
The instant asset write-off threshold has been increased from $30,000 to $150,000 from the 12th March 2020 until the 30th June 2020 for new or second-hand assets that are used or installed within this period.
Note that the Instant Asset Write-Off is due to revert to $1,000 for small businesses from 1 July 2020 and will include any assets ordered before June 30, but not available for use until after the 1st July.
For more information see instant-asset-write-off
Backing Business Investment
A time limited 15 month incentive to accelerate depreciation deductions.  Applies to assets acquired from 12 March 2020 until the 30 June 2021 for new assets only that are used or installed within this period.
There will be a deduction of 50% of the cost of an eligible asset on installation, with existing depreciation rules applying to the balance of the assets cost. 
Those assets that already claimed under the Instant Asset Write-Off will not be eligible.
For more information see backing-business-investment-bbi
Supporting apprentices and trainees
If you employ an apprentice or trainee you may be eligible for a wage subsidy of 50% of their wage paid from 1 January 2020 to 30 September 2020.
Employers will be reimbursed up to a maximum of $21,000, per eligible apprentice or trainee ($7,000 per quarter).
The subsidy will be available to small businesses employing fewer than 20 full-time employees who retain an apprentice or trainee.
The scheme will be run by an Australian Apprenticeship Support Network provider.
For more information see supporting-apprentices-and-trainees