Practicing good social distancing! Member for Nanango, Deb Frecklington visited small business Mister Minit to help promote 'Buy Local'. (Photo: Contributed)
Practicing good social distancing! Member for Nanango, Deb Frecklington visited small business Mister Minit to help promote 'Buy Local'. (Photo: Contributed)

Deb’s advice for keeping our region’s economy afloat

MEMBER for Nanango and State Opposition Leader Deb Frecklington has encouraged South Burnett residents to buy local and keep buying local to support small businesses.

Ms Frecklington said the impact of coronavirus (COVID-19) was already having a negative impact on the region’s businesses and they needed our support.

“It’s so important for us all to keep buying local,” she said.

“We need to fight to protect local jobs and the best thing we can do right now is continue to support our local hairdressers, butchers, food outlets, retailers and all of the amazing small businesses who keep our community so vibrant.

“Importantly, we need to stay calm, practise good social distancing and good hygiene, stay positive and keep going about our daily business.

“It is a challenging time for everyone, particularly small business.

“To help our small businesses, I have included below information and links which may be of assistance. Unfortunately, these initiatives can’t buffer all circumstances but hopefully will help many through these difficult times.”

Practicing good social distancing! Member for Nanango, Deb Frecklington visited small business SG Hair Designs to help promote 'Buy Local'. (Photo: Contributed)
Practicing good social distancing! Member for Nanango, Deb Frecklington visited small business SG Hair Designs to help promote 'Buy Local'. (Photo: Contributed)

Deferring payroll tax

If your business has been affected by the coronavirus, you can defer lodging and paying payroll tax returns until July 31, 2020.

Further information here.

Jobs Support Loans

A new $500 million loan facility, interest free for the first 12 months, to support Queensland businesses impacted by COVID-19 retain employees and maintain their operations. The $500 million concessional loan facility will comprise low-interest loans of up to $250,000 for carry-on finance with an initial 12-month interest-free period for businesses to retain staff. The Queensland Rural and Industry Development Authority is responsible for the administration of these concessional loans.

Further information here.

Boosting cash flow for employers

Provides $25,000 back to small and medium-sized businesses, with a minimum payment of $2000 for eligible businesses. The payment will provide cash flow support to businesses with a turnover of less than $50 million that employ staff. The payment will be tax free.

Further information here.

Supporting apprentices and trainees

If you employ an apprentice or trainee you may be eligible for a wage subsidy of 50 per cent of their wage paid from January 1, 2020, to September 30, 2020. You can register for the subsidy from early April 2020.

Further information here.

Practicing good social distancing! Member for Nanango, Deb Frecklington visited small business Burtons Shoes to help promote 'Buy Local'. (Photo: Contributed)
Practicing good social distancing! Member for Nanango, Deb Frecklington visited small business Burtons Shoes to help promote 'Buy Local'. (Photo: Contributed)

Market diversification and resilience grants

The Queensland Government is providing assistance for businesses impacted by the COVID-19 outbreak through the Market Diversification and Resilience Grants program. The MDRG program will benefit Queensland agriculture, food and fishing exporters and their critical supply chain partners, as well as industry organisations working with exporters to build resilience by diversifying into new markets (international or interstate).

Equipment purchase grants of up to $7500 (ex GST) are available to support new equipment purchases up to a maximum cost of $10,000 (ex GST). Project grants of up to $50,000 (ex GST) are also available to support project activities.

Further information here.

Backing Business Investment

A time-limited 15-month investment incentive to support business investment and economic growth over the short term, by accelerating depreciation deductions. This applies to eligible assets acquired from March 12, 2020, and first used or installed by June 30, 2021. Businesses with a turnover of less than $500 million will be able to deduct 50 per cent of the cost of an eligible asset on installation, with existing depreciation rules applying to the balance of the asset cost.

Further information here.

Increasing the instant asset write-off

The instant asset write-off threshold has been increased from $30,000 to $150,000 and expanded access to include businesses with aggregated annual turnover of less than $500 million (up from $50 million). This applies from March 12, 2020, until June 30, 2020, for new or second-hand assets first used or installed ready for use in this time frame.

Further information here.

Information and support for individuals

Economic Support Payment

The government will provide a one-off $750 payment to about 6.5 million social security, veteran and other income support recipients and eligible concession cardholders. About half of those who benefit are pensioners. This payment will help to support confidence and domestic demand in the economy.

Further information here.

Job seekers

If you’re isolated at home because of coronavirus, the Australian Government will grant you a Major Personal Crisis exemption for 14 days. For the Australian Government to do this you need to tell them as soon as possible after you’re isolated by calling on your regular payment line.

Further information here.