We hope you are staying safe and well during these difficult times. We are trying to keep you updated as quickly as possible on the government and business changes as they occur, we will email you a summary and our interpretation as they apply to the majority of our client base each time there is a new incentive. There are two new items available to businesses as of this morning. 1. BUSINESS SUPPORT GRANT The first is the Business Support Fund offered by Business Victoria. You may be eligible for a grant of up to $10,000. You must employ staff (please note that subcontractors are not employees), have business income of greater than $75,000, have an active business ABN at 16th March and your business either needs to be closed as a result of health restrictions, or highly impacted by the corona virus issues. If you believe you will qualify for this, you can apply from 30th March until 1st June at www.business.vic.gov.au. You will need a copy of your last BAS lodged, and complete the online application for them to consider your business for this grant. If you would like our office to assist you with this grant, please contact us via email. Please note our fees for this service are $165 per hour or part thereof. 2. JOB KEEPER SUBSIDY FOR EMPLOYERS The second is the Job Keeper Subsidy for Employers offered through the ATO. You may be eligible for $1,500 subsidy per employee per fortnight if you qualify. You must have employees at 1st March (subcontractors are not eligible employees) and the ATO will confirm the details via the STP system they implemented some time ago. You must register with the ATO and report to them monthly. You must also advise your employees in writing that they will be receiving this payment via you. The subsidy is to enable you to continue to pay employees $1,500 per fortnight from 30th March for up to 6 months. Your turnover (income) of your business must decrease more than 30% compared to the same month last year in order to be eligible. An eligible employee is someone who is employed at 1st March, full-time, part-time or long-term casual, is over 16 years old and an Australian citizen. They can only receive this Job Seeker payment from one employer. Employers have a choice to pay superannuation on top of this amount or to pay over the amount. Businesses without employees can also apply for their own payment but most nominate one individual (eg one Director) to receive it. The steps to apply are to register your interest with the ATO and then complete the online application. Please note the first payment for this will be received in May. If you would like our office to apply for this on your behalf, please contact us. Please note we charge $165 per hour or part thereof for this service. Our office will email a summary of all the changes shortly and update you as new grants are announced via this email address. Please email Vanessa directly if you have any further queries at vanessa@mirandas.com.au
