8 Posts

Register for Jobkeeper Initiative Updates

Posted on March 31, 2020 by Ashley Dawson

Register for Jobkeeper Initiative Updates

Click here to register

Third Stimulus Package – Jobkeeper Initiative

Yesterday, the Federal Government announced its third economic stimulus package against COVID-19, this time in the form of “Jobkeeper” payments and expanded access to the Jobseeker program administered by Centrelink. While many aspects of the program have been outlined, the Prime Minister and Treasurer were quick to confirm that work has not commenced on the draft legislation.

To date limited information about the scheme and how to register has been published by Treasury and the ATO and further details and clarity are being added through additional documents and explanations to the media. We can however confirm the following key features:

In terms of what is on offer:

  • The amount of assistance payable is $1,500 per fortnight, per eligible employee
  • Each eligible employee must receive at least $1,500 per fortnight (before tax)
  • The definition of eligible employee is a full time employee, part time employee or casual employee with over 12 months service

In terms of what restrictions apply:

  • The scheme is available to employers with turnover less than $1 billion who have experienced a 30% drop in actual or expected future revenue due to COVID-19
  • Employees must be at least 16 years of age
  • Are an Australian citizen, the holder of a permanent visa, a Protected Special Category Visa Holder, a non-protected Special Category
  • Visa Holder who has been residing continually in Australia for 10 years or more, or a Special Category (Subclass 444) Visa Holder
  • Employees must have been on the payroll at 1 March 2020 and, if since stood down or terminated, must return to the payroll
  • Employees can only receive the JobKeeper payment from one employer

Sole traders can also register for and receive payments under the scheme.

To take part in the scheme, eligible employers will need to register with the ATO. Click our link at the top of the page to register.

We look forward to providing you with more comprehensive updates as they become available.  If you know anyone who you believe would benefit from our analysis please encourage them to subscribe using this link.

COVID-19 Banking Support

Posted on March 27, 2020 by Ashley Dawson

As part of the COVID-19 crisis response, there are several initiatives announced by Government and lenders in order to assist small and medium sized businesses (SME’s) to preserve cashflow.

Coronavirus SME Guarantee Scheme

As part of the Federal Government economic stimulus packages, a $20 billion Coronavirus SME Guarantee Scheme has now been legislated, which will provide a 50% Government guarantee on new loans issued by eligible lenders to SME’s. The key points of this measure are:

  • It will be available to all businesses with a turnover of less than $50 million
  • The Federal Government will guarantee 50% of an eligible loan through participating banks and non- bank lenders to businesses disrupted by the Coronavirus
  • Loans will be used for working capital purposes and be unsecured and it will be for loans granted within 6 months starting from 1 April 2020
  • Borrowers will not be charged a fee for accessing the guarantee scheme
  • Loans will be repayment free for 6 months
  • The maximum that can be borrowed under the guarantee facility will be $250k on terms of up to three years

Loan Repayment Pauses

There are different levels of support being offered by the different lenders, however the experience over the past week is that all lenders are open to putting both home and business loans on repayment pauses of between 3 to 6 months. In order to access, please contact your lender directly to discuss your options.

Lenders are also offering options in regards to reduced variable interest rates and lower fixed interest rates, again depending on the lending institution itself.

Below is a list of lenders and their contact details including links to each of the Financial Hardship applications. We recommend accessing via the links below as the first point of contact, if you do not have a Relationship Manager currently, given the extremely high level of calls all lenders are currently experiencing.

AMP – 1300 130 191 

ANZ – 1800 252 845 

BOQ – 1800 079 866 

BANKWEST – 1300 769 173

BENDIGO & ADELAIDE BANK – 1300 652 146 

CITIBANK – 1300 300 470

COMMONWEALTH BANK – 1300 720 814

Home Loans:

Business Loans:

ING 1300 349 166



MACQUARIE  – 1300 363 330

ME BANK – 1300 500 520

NAB – 1800 701 599



SUNCORP BANK – 1800 225 223 

WESTPAC – 1800 067 497



Should you require any assistance with these measures or any of the other COVID-19 economic stimulus package announcements, please contact our Team on (08) 9316 7000.

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