We summarise some recent government announcements and resources in response to the coronavirus pandemic – we hope that it may help you.
$10,000 Emergency Cash Grants
What – State SA Government grants Intended to help cover operating costs.
Eligibility – Businesses that turn over at least $75,000 a year and have total wages bills up to $1.5 million, and not-for-profit groups and community organisations.
Application process – available to apply until 30 June – applications not open yet but you can register your interest here.
Commercial Tenant Relief
What – A Mandatory Code has been introduced to impose a set of 14 principles that apply in negotiating amendments in good faith to existing leasing arrangements. It includes:
- – For rent reductions to be based on a tenants decline in turnover and for benefits landowners receive for their properties be passed onto the tenant in proportion.
- – Landlords must not terminate leases for non-payment of rent during pandemic and reasonable recovery period.
- – There are mutual obligation on tenant businesses to continue to engage their employees through Jobkeeper payments where eligible and to stay committed to their lease terms subject to agreed amendments.
The Code can be viewed here.
Evictions will also be put on hold over the next 6 months for commercial and residential tenants in financial distress, who are unable to meet their commitments due to the impact of the coronavirus.
Application – applies to small to medium sized business with annual turnover of up to $50 million and are eligible for the Jobkeeper program.
Implementation – The Code is being implemented by each state – watch this space for practical effects in SA.
Note also – the Small Business Commissioner can assist in disputes including dispute resolution procedures – see here.
An Explanatory Statement to the JobKeeper Rules is now available.
Eligibility criteria for a business with employees includes:
There is differing eligibility for entities without employees (i.e. sole traders, trusts, partnerships and non-employee directors) who may receive Job keeper for one individual only.
The Statement also gives examples of different tests for a business that does not meet the usual decline in turnover test. It may be useful guidance for you (and your accountant) in working out your business’eligibility.
You can access the Explanatory Statement here and updated fact sheets are available here.
Adelaide Business Hub COVID-19 Help
Who – for businesses in Western Adelaide (cities of Port Adelaide Enfield, Charles Sturt, West Torrens and Holdfast Bay)
What – Business helpline (submit callback request here), business survival webinars and links
Visit here for more information and to access the resources.
Building Better Regional Businesses – Survive the Economic Impact of COVID-19
Who: For regional areas including Gawler & Barossa.
What: FREE eLearning program brought to you by the Gawler Business Development Group & Australian Government.
When: Program launches with a live online presentation on 22 April at 6pm or 23 April at 12:30pm.
Visit here to register and here for further information.