State, feds offer financial support for business

The Federal Government this week announced a $1.3 billion measure to support apprentices and trainees to “help businesses and local communities get past the challenges presented by coronavirus,” Maranoa MP David Littleproud said.

“This assistance will support local businesses to manage cash-flow challenges and help small businesses retain their apprentices and trainees,” Mr Littleproud said.

“The $1.3 billion measure – part of the broader $17.6 billion coronavirus stimulus package – will ensure up to 70,000 small businesses can keep around 117,000 apprentices and trainees across the country in work and training.”

A 50 per cent wage subsidy of up to $21,000 will be available to small businesses which employ fewer than 20 full time employees, including those using a Group Training Organisation, to retain their apprentice or trainee.

The subsidy will also be available to businesses of any size and Group Training Organisations that re-engage an eligible apprentice or trainee who would otherwise lose their job.

Businesses can register to be assessed for eligibility from 2 April 2020. To be eligible for the wage subsidy the apprentice or trainee must have been in-training with a small business as at 1 March 2020.

Further information on how to apply for the subsidy, including information on eligibility is available at:

• The Department of Education, Skills and Employment website www.dese.gov.au

• Australian Apprenticeships website www.australianapprenticeships.gov.au

• Your local Australian Apprenticeship Support Network (AASN) provider

STATE GOVT SUPPORT…

The Queensland Government will create a new $500 million loan facility, interest free for the first 12 months, to support businesses to keep Queenslanders in work and extend the coronavirus payroll tax deferral to all businesses across the state.

Premier Annastacia Palaszczuk said the rapidly evolving impacts of the pandemic demanded a rapidly evolving response from Government.

“We know the effects of this outbreak will grow and intensify, and as they do, so will our measures to protect Queenslanders health, their jobs and their businesses,” the Premier said.

Deputy Premier and Treasurer Jackie Trad said the $500 million concessional loan facility would comprise loans of up to $250,000 with an initial 12-month interest free period for businesses to retain staff.

Information on the concessional loans will be available at www.qrida.qld.gov.au from the end of this week.

Information on payroll tax deferral can be found at www.osr.qld.gov.au

 

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