COVID-19 Assistance

At Beyond Merchant Capital we understand that now more than ever SMEs need our support and need us to continue responsible lending. We remain open to support your business through these challenging times and can still help you with new lending if your business is currently trading.

Please click here or call us on 1300 670 923 to speak with a lending specialist about the best funding for your business at this time.

Support

Like you, we have also been severely impacted by the COVID-19 crisis and it is important to us that we share with you some of the stimulus packages that might help your business to navigate this journey.

State and Federal Governments have created a number of support packages to help SME’s to navigate the challenges resulting from the COVID-19 shutdown:

AUSTRALIA-WIDE

Asset Write-Off Threshold Increase

The Government is increasing the instant asset write-off (IAWO) threshold from $30,000 to $150,000 and expanding access to include all businesses with aggregated annual turnover of less than $500 million (up from $50 million) until 30 June 2020.

For more information, see below:
https://treasury.gov.au/sites/default/files/2020-03/Fact_Sheet-Delivering_support_for_business_investment.pdf

Job Keeper Payment

The Government has announced a $130 billion JobKeeper payment to help keep more Australians in jobs and support businesses affected by the significant economic impact caused by the Coronavirus.

Around 6 million workers will receive a fortnightly payment of $1,500 (before tax) through their employer.

For more information, see below:
https://treasury.gov.au/coronavirus/jobkeeper

Boosting Cash Flow for Employers

The Government will provide tax-free cash flow boosts of between $20,000 and $100,000 to eligible businesses, delivered through credits in the activity statement system, when eligible businesses lodge their activity statements.

For more information see below:
https://treasury.gov.au/sites/default/files/2020-04/fact_sheet-boosting_cash_flow_for_employers.pdf

SME Commercial Leasing Principles During COVID-19

A set of good faith leasing principles for application to commercial tenancies (including retail, office and industrial) between owners/operators/other landlords and tenants, where the tenant is an eligible business for the purpose of the Commonwealth Government’s JobKeeper programme.

For more information see below:
https://www.pm.gov.au/sites/default/files/files/national-cabinet-mandatory-code-ofconduct-sme-commercial-leasing-principles.pdf

Backing business investment – accelerated depreciation

Measures introduced in March 2020 provide an incentive to businesses with aggregated turnover of less than $500 million for the 2019–20 and 2020–21 income years, to deduct the cost of depreciating assets at an accelerated rate.

For more information see below:
https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/Backing-business-investment—accelerated-depreciation/

ATO Support measures to assist those affected by COVID-19

Support measures could include deferral of some payments, quicker access to GST refunds, and options to enter low interest payment plans for existing or future tax debts.

For more information see below:
https://www.ato.gov.au/Media-centre/Media-releases/Support-measures-to-assist-those-affected-by-COVID-19/

QUEENSLAND

Queensland COVID-19 Jobs Support Loans

The scheme is for Queensland businesses (including non-for-profits) financially impacted by COVID-19, to retain employees and maintain operations via a low interest, 10 year loan of up to $250,000 to assist with working capital expenses such as wages, rent, rates and other related expenses.

For more information see below:
http://www.qrida.qld.gov.au/current-programs/covid-19-business-support/queensland-covid19-jobs-support-scheme

NEW SOUTH WALES

COVID-19 Help for Small Businesses

Small businesses in NSW who are having difficulties as a result of the COVID-19 shutdown will be eligible to receive grants of up to $10,000.

For more information see below:
https://www.service.nsw.gov.au/campaign/covid-19-help-small-businesses

WESTERN AUSTRALIA

WA Coronavirus Relief Package

The Western Australian Government has announced $114 million in measures to support small business during the coronavirus (COVID-19) pandemic including $17,500 grants for small businesses with a payroll between $1 million and $4 million.

For more information see below:
https://www.smallbusiness.wa.gov.au/blog/wa-coronavirus-relief-package

VICTORIA

Business Support Fund

The Victorian Government has launched the $500 million Business Support Fund to support small businesses in the sectors hit hardest by the coronavirus (COVID-19) pandemic so they can survive and keep people in work. Eligible businesses can apply for a one-off $10,000 grant which can be used towards costs such as utilities, rent and salaries, and activities to support business continuity planning.

For more information see below:
https://www.smallbusiness.wa.gov.au/blog/wa-coronavirus-relief-package

SOUTH AUSTRALIA

Jobs Rescue Package

The Jobs Rescue Package includes one off emergency cash grants of $10,000 for small businesses and not-for-profits that have suffered a significant loss of income or been forced to close as a result of necessary coronavirus-related restrictions.

For more information see below:
https://www.treasury.sa.gov.au/Growing-South-Australia/stimulus-measures-to-support-businesses-and-the-community-impacted-by-covid-19