The Latest Business News from the Australian Government


COVIDSafe App

The BIC supports the Australian government’s CovidSafe App as an integral step to slow the spread of the Covid-19 pandemic. The health, wellbeing and economic value of our industry is paramount and the sooner we work together to stop the spread of Covid-19, the sooner restrictions will be lifted, and we can return to normality. To download the app click here.            

JobKeeper - extension to March 2021 and requirements for Qualifying and Legacy Employers

On Tuesday 1 September 2020, the Coronavirus Economic Response Package (Jobkeeper Payments) Amendment Bill 2020 passed the Federal Parliament. The Act extends the JobKeeper payment scheme and the temporary JobKeeper provisions of the Fair Work Act, until 28 March 2021, albeit in a revised form.

The Bill passed with a minor technical amendment from the Government. BIC has been regularly engaging with Government (and Opposition) to ensure our Industry is being represented and to advocate for the retention of as many flexibilities for employers and employees as possible.

The Act creates two broad categories of employers who can access particular flexibilities under the Fair Work Act in certain circumstances from 28 September 2020:

 

Qualifying Employers

 

Legacy Employers

 

New Guides

As a member of the Australian Chamber of Commerce and Industry, the BIC has access to a number of ACCI materials to assist employers to ensure compliance to the Fair Work Act and JobKeeper scheme.

Other extensions and business incentives on offer from the Australian Government

Download the government's business incentives Fact Sheet.


Instant Asset Write-off (IAWO) Threshold

On 9 June 2020, the Government announced it would extend the $150,000 instant asset write-off by six months until 31 December 2020 to give eligible businesses additional time to invest. This extension has been legislated.

The higher IAWO threshold provides cash flow benefits for businesses that will be able to immediately deduct purchases of eligible assets each costing less than $150,000. The threshold applies on a per asset basis, so eligible businesses can immediately write off multiple assets. The IAWO is due to revert to $1,000 for small businesses (turnover less than $10 million) from 1 January 2021.

Backing Business Investment (BBI)

The Australian Government is introducing a time limited 15 month investment incentive to support business investment and economic growth over the short-term, by accelerating depreciation deductions.The incentive applies to eligible assets acquired and first used or installed by 30 June 2021. Businesses with aggregated turnover below $500 million are eligible.

July 2020 Guiding principles for safe Covid-19 operation of buses and coaches deregulated sector

The BIC has provided assistance to the Department of Infrastructure, Transport, Regional Development and Communications in the development of a set of principles for the safe Covid-19 operation of buses and coaches in the private (deregulated) sector. The Australian Government made available these guiding principles on July 9 2020. Download here.

 

Tourism Restart Taskforce

Australian Government Agencies, including Austrade, the National COVID Coordination Commission, Tourism Australia and Treasury have worked with the Tourism Restart Taskforce to develop the Tourism restart program launched on 4 July 2020. This plan spells out the basis for the supply-side actions required to capitalise on the demand created by Tourism Australia for visitation, both domestic and international. The Tourism Restart Plan can be viewed here.                 

Go to our dedicated Covid-19 page for the Long Distance, Tour, Charter and Express sector. 


 

 
 
 
 
 
 
 
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