fbpx

Understanding the Government Stimulus Package for Small Business 

As you may be aware, a revised Stimulus Package has been presented by the Commonwealth Government which has greatly increased the monetary support and options available to Small Business Owners.

There’s some great initiatives in the new package and I hope this is just the beginning of the Government led allowances and support for small business ecosystem in Australia during this time.

22nd March Stimulus Package Cheat Sheet

Sole Traders

  • Access to Newstart/Job Seeker payment, with an added $550 per fortnight Coronavirus payment
  • Newstart asset test removed
  • However Newstart income test remains
  • If income dropped by a minimum of 20%, early access to super of up to $10K

Companies/NFPs up to $50m

  • Eligible businesses that withhold tax to ATO on employees’ salaries and wages will receive a payment equal to 100% of the amount withheld to a maximum of $100K.
  • All other eligible businesses that pay salaries and wages will receive a minimum of $10K even if they’re not required to withhold tax.
  • Easier to secure Business Loans up to $250K – speak with your Accountant and your Bank

We’ve received many emails and calls from Small Business Owners in NSW and my team and I have been working around the clock to help and respond to you all as quickly as possible.  I really want to express that the Realise team are here for you during this time. Our Advisors are specialists in working with businesses that are going through various stages of interruption and we’re equipped with the knowledge and resources to help and support you. We can offer free business advice through the NSW Government Business Connect Program and Federal Government Digital Business Solutions Program. Visit our website to book in with a Business Advisor today and we will be in touch to set up a video or phone advisory session at a time that is convenient to you.

I’m also hosting a FREE webinar on how Coronavirus has created unforeseen disruption to business and things you CAN control now which will be held on Friday 27th March, you can register here.

As always, reach out to the Realise team at any time, we’ll do everything we can to help.

Share the Post:

Find the Right Digital Solution for Your Business

Join Our Digital Solutions Program

Related Posts

How does your business measure up?

Our FREE Business Assessment Tool gives you a real time snapshot of exactly where your business is now.

Take the free business assessment

Martin Rogers
Chief Executive Officer

Martin holds an extensive background and certification in Business, Marketing, and Strategy with over 20 years’ experience specialising in Strategic Thinking, Business Growth, Leadership and Team Development, across a number of industries. Martin utilises a collaborative leadership style and has a thirst for problem solving, understanding the latest trends and identifying the uniqueness that gives businesses their edge.
Read More

Mark McCrea
Chief Operations Officer

Mark McCrae stands out as a highly efficient Operations professional, known for his strategic oversight and management prowess within the corporate landscape. With years of experience under his belt, Mark has become synonymous with operational excellence, streamlining processes to enhance productivity and drive sustainable growth. Mark's forward-thinking approach and unwavering commitment to excellence have solidified his reputation as a cornerstone of operational success.
Read More

Razz Khan
Chief Marketing Officer

With over a decade of experience, Razz has a proven track record of driving growth and enhancing the digital footprint of various brands across multiple industries. His expertise spans across SEO, PPC, content marketing, social media strategies, and analytics. Razz is known for his innovative approaches to solving complex marketing challenges. Razz's passion for digital marketing, combined with his commitment to client success, makes him a valuable asset to any team looking to elevate their digital presence..
Read More

Greg Kay
Chief Commercial Officer

Greg has more than 25 years success in working with many for the development and implementation of growth strategies for businesses by building strong relationships through effective partnerships. Greg constantly strives for opportunities to have a positive influence in the personal and business lives of the people he works with.
Read More

Chris Wilborn
Contracts Manager And Advisor

Chris is a results-driven leader with a wealth of knowledge derived from his more than two decades in the NGO, corporate and government sectors. As a current business owner, from his prior work as a growth-minded CEO and a background working with disability organisations, Chris is deeply passionate about the NDIS, small business community and the central role they play in the fabric of our society.
Read More

Lindsay Munns
Executive

As a long term member of the Realise Business Board, Lindsay has temporarily stepped into this key role to facilitate the changeover of Chief Executive as part of our CEO succession strategy. Additionally he is busy leading the roll out of a major new Government contract that will take Realise Business up to the next level of its vital place in the NSW Small Business Advisory scene.
Read More

Marisa Barresi
Office / Client Coordinator
- Business Connect

Read More

Shanice Bangar
Events / Client Coordinator - Digital Solutions

Read More

Mona Bucog
Event Coordinator

Over the past 12 years, Mona has honed her skills in customer service, specializing in managing and addressing a wide range of customer needs. She’s dedicated to providing exceptional service and ensuring customer satisfaction. Her experiences have helped her develop skills that assist organizations in achieving their goals. Her ultimate aim is to help them focus on what they love, and she will take care of the rest!
Read More