COVID-19 support available to Fremantle small businesses
The City of Fremantle is providing assistance to local businesses to help them take advantage of COVD-19 support packages being offered by the state and federal governments.
The Australian Government has announced a COVID-19 support package for businesses that includes:
- Cash flow payment of up to $25,000 for employers
- 50 per cent wage subsidy for apprentices and trainees
- Increase in the instant asset write off threshold to $150,000
- 50 per cent accelerated depreciation for investments
The WA State Government has also announced it will be providing relief for business through its own stimulus package including:
- $607 million stimulus package to support WA households and small businesses in the wake of COVID-19
- $114 million in additional measures to support small businesses
- Small businesses that pay payroll tax will receive a one-off grant of $17,500
- $1 million payroll tax threshold brought forward by six months to July 1, 2020
- Businesses impacted by COVID-19 can defer payroll tax payments until July 21, 2020
The City of Fremantle, as part of its Small Business Capacity Building Program, has partnered with Business Foundations to deliver complimentary one-on-one advisory sessions to provide information about the federal and state stimulus packages.
Business Foundations can offer the service online, over the phone or face-to-face if required. Advisors will spend an hour with each business providing tailored advice.
To register for a session, which is provided free of charge through the City’s Small Business Capacity Building Program, businesses simply need complete a registration form, select COVID-19 Federal Stimulus Advisory and email to email@example.com.
Only a limited number of places are available for eligible businesses. Refer to the Small Business Capacity Building Program website for a registration form and eligibility criteria.
Further resources and information relating to the Federal Government’s program and others has been provided below:
- To find out if this applies to your business go to: https://business.gov.au/risk-management/emergency-management/coronavirus-information-and-support-for-business or speak to your accountant.
- The Small Business Development Corporation offers free and confidential guidance to small businesses and can assist with disruptions to business.
- The Australian Tax Office will also assist businesses experiencing financial difficulty. This may include tax payment deferrals. To find out more go to: https://www.ato.gov.au/Individuals/Dealing-with-disasters/In-detail/Specific-disasters/COVID-19/
- The Western Australia Department of Health is providing information about the health impacts of coronavirus here: https://healthywa.wa.gov.au/coronavirus