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In response to the coronavirus (‘COVID-19’) pandemic currently impacting the economy and businesses generally, each Australian State and Territory Government has announced relief and other support packages as part of the broader economic stimulus measures. To assist tax practitioners and their clients, the NTAA has prepared the following tables which briefly summarise some of the key initiatives announced by each State and Territory Government as at the time of writing.

On 8 April 2020, the Federal Government passed a package of Bills through both Houses of Parliament (which received Royal Assent on 9 April 2020) to give effect to (amongst other things) the JobKeeper Scheme. Subsequent to this, a Legislative Instrument was released by the Treasurer containing the detailed rules of the JobKeeper Payment.

The plan will benefit businesses such as convenience stores in train stations, cafés in government buildings, and restaurants in tourism precincts, such as Elizabeth Quay and Yagan Square. It will also benefit eligible small businesses leasing land from the State, such as caravan park and eco-tourism operators.

The current COVID-19 outbreak continues to increase globally. We are following advice from the World Health Organisation (WHO) and the Australian government in regard to the spread of Coronavirus (COVID-19).

We have been making preparations to avoid unnecessary harm to team members, clients and our local communities. Our foremost concern continues to be preserving the health and well-being of our people and our clients during this period.

Over the past few weeks, the government has activated a series of measures designed to assist businesses and individuals through the Covid-19 crisis.

We have summarised all the key information that relates to Government’s Economic Response to Coronavirus and how it impacts your business.