Since the onset of the COVID19 pandemic, the Government has provided direct economic support to businesses. Support is available to keep businesses in business and Australians in jobs.
COVID-19 lockdown support
The Government is working with states and territories to provide financial assistance to businesses affected by lockdowns and restrictions in COVID19 hotspots.
On 31 August, the Commonwealth and ACT Governments announced an expansion of the jointly funded package to support small and medium businesses in the Territory impacted by the lockdown measures announced on 13 August.
- ACT Business Hub
- Support for ACT businesses impacted by COVID-19 media release
- Extended support for ACT businesses impacted by COVID-19 media release
- Increased support for ACT businesses impacted by COVID-19 media release
On 28 July, the Commonwealth and NSW Governments announced an expansion of the COVID19 Business Support Payment. Apply through Service NSW.
On 19 August, the Commonwealth and Territory Governments have announced a new $12.5 million package for Territory businesses impacted by COVID-19 restrictions.
On 13 August, the Commonwealth and Queensland Governments announced a funding agreement to increase the COVID-19 Business Support Grants to $600 million.
South Australian businesses
On 9 August, the Commonwealth and South Australian Governments announced a jointly funded package for South Australian small and medium businesses impacted by the recent lockdown.
- SA Department of Treasury and Finance
- Support for South Australian small businesses impacted by COVID-19 media release
On 13 August, the Commonwealth and Tasmanian Governments announced a Business Support Package for Tasmanian businesses impacted by border closures.
On 4 September, the Commonwealth and Victorian Governments announced further extensions to support for businesses most affected by the extension of the public health lockdown in Melbourne.
This further builds on the jointly funded package for Victorian small and medium businesses first announced on 28 July.
- 4 September media release
- 19 August media release
- 12 August media release
- 6 August media release
- 28 July media release
Western Australian businesses
On 22 August, the Commonwealth and Western Australian Governments announced funding support for tourism businesses impacted by COVID-19.
- COVID-19 coronavirus: Support for business
- Assistance grants for WA tourism businesses impacted by COVID-19 media release
Services Australia has information for individuals affected by COVID-19 restrictions.
SME Recovery Loan Scheme
The Government’s SME Recovery Loan Scheme is designed to support the economic recovery, and to provide continued assistance, to firms that received JobKeeper and also to firms that are eligible flood-affected businesses. Loans are available from 1 April 2021 until 31 December 2021.
Small business debt restructuring
The Government has made changes to our insolvency framework to better serve Australian small businesses, their creditors and their employees.
As part of these changes, a new debt restructuring process has been introduced for eligible small businesses.
Temporary full expensing
The 2021-22 Budget extended temporary full expensing for an additional year until 30 June 2023. This will allow projects with longer lead times or that are experiencing COVID-19 related supply chain disruptions to be eligible for temporary full expensing.