The Northern Territory government has to date invested $120M to assist Territorian’s during the COVID-19 pandemic, which includes a number of initiatives to assist local businesses.
A few of the initiatives available include:
- Tourism Business Support Program: $200,000 has been allocated to support businesses in the tourism sector. Tourism NT has partnered with KPMG to deliver immediate and targeted business support for tourism operators. For more information visit www.tourismnt.com.au/covid-19/tourism-business-support.
- Job Rescue & Recovery: This program has been designed to keep shops and businesses open. It focuses on encouraging Territorian businesses to use other local businesses to undertake improvements, repairs and maintenance. Eligible businesses can apply for the Business Improvement Grant and for funding through the Small Business Survival Fund. To register, apply for funding or to find out more: businessrecovery.nt.gov.au/.
- Payroll Tax: Eligible small and medium-sized businesses that can demonstrate that they have experienced substantial hardship due to COVID-19 will be eligible to have their payroll tax abolished for six months. They can also receive a 50% reduction on six months of power, water and sewerage bills. You can apply for these from 1st of May 2020.
- Worker and Wellbeing Fund: If your income has been impacted or if you no longer have work due to COVID-19, you can apply for wellbeing support. The Worker & Wellbeing Fund also gives you access to counselling and support services. For more information and to apply visit: dcm.nt.gov.au/worker-wellbeing.
For more information and resources visit: nt.gov.au/industry/support-for-business
The above information is a brief summary only and does not take into account your personal needs and is not a substitute for independent professional advice. We strongly recommend that you speak to your accountant as they will be able to provide you with the most suitable advice for your individual circumstance and to ensure that you are also always receiving the most up to date information.