Pirie businesses uncertain about eligibility for coronavirus support package

SUPPORT: President of Business Port Pirie Mark Hanlon said local businesses are already doing it tough. Government stimulus packages are available to small and medium busineses, and the recently unemployed.
SUPPORT: President of Business Port Pirie Mark Hanlon said local businesses are already doing it tough. Government stimulus packages are available to small and medium busineses, and the recently unemployed.

Eligible businesses may receive a cash injection next month.

As further stage one government restrictions are applied from 11:59pm Wednesday 25 March amid the coronavirus health crisis, more businesses have shut their doors for the foreseeable future.

President of Business Port Pirie Mark Hanlon said many small businesses would find the coming months very challenging.

"We are yet to have a reported case of the disease to my knowledge, but the crisis is already having an enormous effect on local businesses," he said.

"This is uncharted waters for all of us, especially our retailers and hospitality workers.

"Hotels, cafes, pubs and gyms are certainly going to do it tough, alongside all retail and hospitality."

With the situation rapidly changing many businesses, employers and employees are left frustrated as they try to process the advice given by the government in relation to financial aid.

A spokesperson from the Treasurers office said this is what you need to know:

The federal government's Boosting Cash Flow for Employers scheme provides payments up to $100,000 to businesses.

If small to medium businesses have a lodged an up-to-date statement for the previous financial year, they are eligible for the stimulus package as announced by the federal government.

The eligibility for the payments are based on last years' turnover and is processed through the Australian Taxation Office (ATO).

Small and medium businesses with an annual turnover of under $50 million and which employs workers will be eligible.

The payment will be delivered by the ATO as an automatic credit from 28 April 2020.

An additional eligibility outcome payment will also be introduced equal to the total of all of the Boosting Cash Flow for Employers payments from July to October 2020.

The cash flow boost provides a tax free payment to employers and is automatically calculated by the Australian Taxation Office. There are no new forms required.

More information on the Boosting Cash Flow for Employers scheme can be found on the treasurers website here.

The government is also temporarily expanding eligibility income support payments to individuals over the next six months, paid at a rate of $550 per fortnight.

Individuals eligible for the coronavirus income support payments are urged to apply online via myGov or over the phone.

For people who do not already deal with Services Australia, they will need to set up their myGov account, call to verify their identity, and get a link to their Centrelink online account.

Further information on income support for individuals can be found on the treasurers website here.

If you own a business or are an employee who has been affected by the government restrictions, you can find up-to-date information here.

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