Cash support to keep business afloat

FEDERAL Government moves to cushion the economic impact of the coronavirus crisis, will include extra support for casual workers, sole-traders and businesses.

Prime Minister Scott Morrison said they wanted to keep businesses going as best they could and for as long as they could.
“We know this will be temporary,” he said.
“That’s why all our actions are geared towards building a bridge, keeping more people in work, enhancing the safety net for those that aren’t and keeping businesses alive so they can get to the other side and stand up again in their workforce as quickly as possible.”
Eligibility will be expanded for temporary income support payments of $550 a fortnight to be paid to both existing and new recipients of the JobSeeker Payment, Youth Allowance jobseeker, Parenting Payment, Farm Household Allowance and Special Benefit.
An extra 5,000 people will also be employed by Services Australia to deliver the new payments.
Social security, veteran income support recipients and eligible concession card holders will also receive an extra $750 stimulus payment on July 13, on top of the $750 already set to paid out on March 31.
Eligible small and medium sized businesses and not‚Äëfor-profits, including charities, will also be able to access up to $100,000 to help cash flow so they can keep operating, pay their rent, electricity and other bills and retain staff.
The Government is also establishing the Coronavirus SME Guarantee Scheme which will support small and medium enterprises (SMEs) to get access to working capital to help them get them through the impact of the coronavirus.