COVID-19 information is constantly being updated. To keep our members informed SIV has provided a summary of state and Federal support available to industry with links to key information. Please appreciate that this is a rapidly evolving situation so the information contained is based on what is current and will be updated as more information is released.
VICTORIAN GOVERNMENT SUPPORT FOR SEAFOOD
The Victorian Government has established an economic survival package to support Victorian businesses and workers through the devastating impacts of the COVID-19 pandemic.
The $1.7 billion Economic Survival Package complements the work of the Federal Government. The package includes the following key programs:
Grants for Small Businesses $10,000 (one off payment) Small businesses are eligible if they meet all these criteria
Employ staff
Have been subject to closure or is highly impacted by the shutdown restrictions.
Businesses with annual taxable wages up to $3 million will have their payroll tax for the 2019-20 financial year waived.
Eligible businesses must continue to lodge returns but do not need to make further payments for this financial year.
Businesses can also defer paying payroll tax for the first quarter of the 2020-21 financial year.
Application Process and for more information click here
Working for Victoria $500 million Eligible workers can apply their skills to new roles or take up training opportunities for specific roles. At the same time, organisations and employers looking for workers can find experienced and screened staff who are ready to work.
If you have Australian working rights, you are eligible to participate.
If you are a jobseeker in Victoria, register your details here
Travel within Australia If you are travelling domestically there is no requirement in Victoria to go into quarantine for 14 days. For more information on travel restrictions visit here
Business Victoria HOTLINE - 13 22 15 Coronavirus (COVID-19)Update click here ____________________________________________________________________________________________
FEDERAL GOVERNMENT SUPPORT FOR SEAFOOD
The Australian Government has announced a $320 billion economic plan to support businesses in response to coronavirus (COVID-19).
Cash flow assistance for businesses to $100,000 Small and medium sized businesses, and not‑for-profits (including charities) that employ people, with a minimum payment of $20,000. Providing 50 per cent wage subsidies to eligible employers of apprentices and trainees for up to nine months from 1 January to 30 September 2020.
Business Investments An increase to asset write-off threshold from $30,000 to $150,000 Businesses with aggregated annual turnover of less than $500 million (up from $50 million) until 30 June 2020.
Coronavirus SME Guarantee Scheme Maximum total size of loans of $250,000 per borrower.
The Government will provide eligible lenders with a guarantee for loans with the following terms:
SMEs, including sole traders, with a turnover of up to $50 million.
Loans will be up to three years, with an initial six-month repayment holiday.
Unsecured finance, meaning that borrowers will not have to provide an asset as security for the loan.
JobKeeper Payment $1500 per fortnight The payment will be paid to employers, for up to six months, for each eligible employee that was on their books on 1 March 2020 and is retained or continues to be engaged by that employer.
Export Finance Australia - Business savings loan $250,000 to $50 million to assist with:
Working capital support
Capital investment
International expansion
Online growth
Export Assistance Australian businesses who are exporters or operating in an export supply chain who:
Have been trading for at least two years
Have had profitable operations in either of the two financial years prior to markets being impacted by COVID-19
Are unable to secure finance from the private market because of COVID-19
Have an annual turnover of at least $250,000
For information on the Australian Government’s economic response to coronavirus (COVID-19) click here: