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ATO Updates (September 2021)

Date: September 7, 2021
Categories: Monthly Update

State-wise COVID – 19 relief/support measures

Victoria

1. Commonwealth’s COVID – 19 Disaster Payments 

  • Commonwealth’s COVID – 19 Disaster Payments – Workers across the state who lost hours because of lockdown will be eligible for this support payment through the Commonwealth’s COVID – 19 Disaster Payment. 
  • The Businesses in Victoria that don’t qualify for the Victorian Government Support Programs because of they are not registered for GST will also qualify for this support payment. 
  • This is administered through ‘Services Australia’ and the payment is set out as below: 

 

Hours Lost  Eligible Amount 
8 to 20/Full day of work  $450 
> 20  $750 

 

2. Business Costs Assistance Program 

  • This program provides support for businesses significantly affected due to the lockdown but continues to incur costs.  
  • The businesses in Metropolitan Melbourne are expected to receive the support payment of $5,600 which will be paid as $2,800/week for the lockdown period. 

 

 3. Licensed Hospitality Venue Fund 

  • Payments of $5K, $10K, and $20K per week will be made to the licensed hospitality premises in Metropolitan Melbourne. 
  • This is a tired approach, and the payment will be made in accordance with the capacity of the premises as below: 

 

Capacity  Eligible Amount 
Up to 99 patrons  $5K 
100 to 499 patrons  $10K 
500 +   $20K 

 

4. Alpine Business Support Program 

  • Alpine businesses will receive between $5K (off-mountain) & $20K (on-mountain) under this program. 

 

5. Small Business COVID Hardship Fund 

  • This fund allows for increasing the grants from $10K to $14K. 
  • This is available for small & medium-sized businesses across the state. 

 

 6. Rental relief for Commercial Tenants

  • This scheme is applicable for commercial tenants who have experienced a turnover reduction of more than 30% during COVID – 19. 
  • This came into effect from 10th August 2021 and will be in force up to 30th April 2022. 
  • Under this scheme, the turnover during the last quarter of FY2021 will be compared with the turnover of the same period in FY2019. 
  • Special arrangements will apply to assess the turnover impacts for new businesses which were not in existence in 2019. 

 

Queensland

As part of the package, additional support for businesses have been announced where the turnover decline is more than 30%. The support payment will be made as below:

 

Criteria  Eligible Amount (one-off grant) 
Non – employing Sole Traders  $1K  
Small Businesses with a Payroll < $1.3M  $5K 
Medium Sized Businesses with Payroll between $1.3M & $10M  $10K 
Large Sized Tourism & Hospitality focused businesses with Payroll > $10M  $25K 

 

South Australia 

  • This is a jointly funded package by both Federal as well as State governments. 
  • This provides Financial Support to SMEs impacted by COVID – 19. 
  • This applies to businesses with a turnover decline of more than 30% over a 2-week period because of COVID – 19 trade restrictions introduced from 28th July 2021. 
  • The support payments will be made as below: 

 

Criteria  Eligible Amount 
Employing Business  $3K 
Non – employing Business  $1K 
Businesses with a Commercial Premise in Adelaide CBD (Postcode 5000)  Additional CBD Grant of $1K 
  • The State Government is also funding Grants up to $25K for Major Events canceled/postponed or suffered a significant financial loss because of the restrictions in July & August. 

 

Australian Capital Territory 

  • This is a jointly funded package by both Federal as well as the ACT Governments. 
  • This applies to businesses with a turnover decline of more than 30% during the period 13th August 2021 to 20th August 2021 compared with a prior 7-day period. 
  • COVID – 19 Small Business Hardship Scheme is also opened where eligible businesses can apply for credits against Payroll Tax, Rates & certain Business Licenses paid previously. The maximum amount claimable is $10K per ABN. This will be available for SMEs with a turnover between $30K & $10M that can demonstrate a 30% loss of revenue. 

 

Tasmania 

  • This is a jointly funded package by both Federal as well as State Governments. 
  • This package is specifically targeted at businesses operating in tourism, hospitality, arts & events, seafood, and transport sectors as well as businesses impacted directly by reduced interstate visitation. 
  • This came into effect from 17th August 2021. 
  • The grants range from $2K to $10K for businesses that have suffered a turnover decline of 30%. 

 

Superannuation 

COVID – 19 Super re – Contribution 

  • The ATO has advised that individuals can now re-contribute Superannuation amounts they withdraw under the early release program. 
  • These contributions won’t count towards non – concessional contributions cap limit.