View this email in your browser

Business Update

Coronavirus Daily Update from CCIQ

Today, we teleconferenced with Treasurer Jackie Trad to inform her and the State Government about what more they will need to do to help Queensland businesses through the coronavirus pandemic. Last week the State and Federal Governments both announced some support, but we know this will not be enough.

We have urged the Treasurer for a complete payroll tax freeze for at least 6 months for businesses with wages up to $5M. This alone will save 580,000 jobs in Queensland, and rather than going into government revenue, it’s better this money stays in businesses to keep people employed. The LNP has already committed to it. We also made a strong case for more direct financial support and a big infrastructure spend in the upcoming budget.

The CCIQ team will be working from home for at least the next week, in the best interests of our staff and their families. We believe we are well equipped to do this, so I’m confident you won’t see any disruption in our service.

Stephen Tait
CEO
Chamber of Commerce & Industry Queensland

Yesterday the Australian Government announced a range of measures to support small businesses and employees, including apprentices and trainees, to manage the impacts of the COVID-19 (coronavirus) outbreak. The key components of the package include:

Support for business

Support is available for small and medium businesses with aggregated annual turnover under $50 million to cover the costs of employee wages and salaries equal to 50 per cent of PAYG withheld for businesses that withhold tax, with a minimum of $2,000 and a maximum of $25,000 over six months. Businesses that pay salary and wages but are not required to withhold tax will also receive the minimum payment of $2,000. This will be a tax-free payment.

Support for apprentices and trainees

Eligible employers can apply for a wage subsidy of 50 per cent of the apprentice’s or trainee’s wage for 9 months from 1 January 2020 to 30 September 2020. The subsidy of up to a maximum of $21,000 will be available. Where a small business is not able to retain an apprentice, the subsidy will be available to their new employer. The wage subsidy will be claimable for wages paid since 1 January 2020. Employers can register for the subsidy from 2 April 2020. Final claims for payment must be lodged by 31 December 2020.

The subsidy will be available to small businesses employing fewer than 20 full-time employees who retain an apprentice or trainee. Employers of any size and Group Training Organisations that re-engage an out-of-trade apprentice or trainee may be eligible for the subsidy. The apprentice or trainee must have been in-training with a small business as at 1 March 2020.

Support for business investment

Lifting the threshold to $150,000 (from $30,000) and expanding access to businesses with aggregated annual turnover of less than $500 million (up from $50 million) until 30 June 2020. The threshold applies on per asset basis, so eligible businesses can immediately write-off multiple assets.

Offering businesses a 15 month investment incentive to support their business, by accelerating depreciation deductions. Key features of the incentive including deduction of 50 per cent of the cost of an asset, with existing depreciation applying to the balance of the asset’s cost. This will be available to businesses with aggregated turnover below $500 million, purchasing certain new depreciable assets.

Support for regions

Support for those sectors, regions and communities that have been disproportionately affected by the economic impacts of the Coronavirus, including those heavily reliant on industries such as tourism, agriculture and education.

Full details of the package are available on the Australian Government website at https://treasury.gov.au/coronavirus

You are encouraged to share the details of the package with your members and continue to refer them to relevant support being offered under the Queensland Government’s industry recovery package outlined at www.qld.gov.au/industryrecovery

Regards

Queensland Government crest

Maryanne Kelly

Deputy Director-General, Engagement

Department of Employment, Small Business and Training

COVID-19: Update from Visit Sunshine Coast CEO Simon Latchford

Right now the domestic and global tourism industry is facing one of its biggest challenges to date.

The COVID-19 virus pandemic will have a significant impact on the tourism industry - whether directly or indirectly - and the situation is rapidly evolving. As the Region’s Tourism Organisation, Visit Sunshine Coast (VSC) would like to reassure local operators that we are doing everything in our power to soften the impact the current contagion will have on the Sunshine Coast.

At the weekend Prime Minister Scott Morrison announced the Australian Government would implement measures to help slow the transmission of COVID-19. These include mandatory 14-day self-isolation for all international visitors arriving in Australia, and a ban on cruise ship arrivals and public gatherings of more than 500 people.

We understand many of our operators will feel the impact of these measures, and in response, VSC’s short term marketing plan includes a campaign focused on drive and ‘Staycation’ markets, which have the power to deliver fast economic outcomes for Sunshine Coast operators and small businesses.

We encourage our members to get behind the initiative and support their follow tourism operators and small businesses wherever they can in these times.

VSC continues to work hand-in-hand with Tourism and Events Queensland (TEQ) to maintain visitation to the region from key drive markets, leveraging off Tourism Australia’s ‘Holiday Here This Year’ campaign. A timely Sunshine Coast campaign was launched this week, and includes television, digital, outdoor, radio and a competition. The campaign will target Brisbane and surrounds and run through to the Easter period.

We are committed to delivering the best possible information, resources and support to Sunshine Coast Operators. Our Industry Development and Membership Manager Andrew Fairbairn remains VSC’s primary contact for operators, and we encourage anyone who is experiencing an impact on their business as a direct result of COVID-19 or who has any feedback about forward bookings to email Andrew at andrew.fairbairn@visitsunshinecoast.com.

As the situation is rapidly evolving we urge local operators to stay up-to-date with the latest health advice from Queensland Health and the World Health Organisation. In addition, VSC has launched a dedicated landing page to provide tourism operators with access to a range of resources.

One of the biggest challenges we face is how long the COVID-19 pandemic will last, and to that we have no answer. VSC will continue to monitor the situation on a day-by-day basis working together with our Board and Government authorities on how to best support our members and wider industry through immediate and long-term campaigns and activations.

It is vital we remain united as ‘Team Sunshine Coast’ and maintain open lines of communication. History has shown that our industry is resilient, and by continuing to manage the impact of COVID-19 on our tourism industry, I am confident we will be able to achieve the best possible outcome for our region in the current climate.

Simon Latchford

CEO, Visit Sunshine Coast

Has your business been impacted by COVID-19? We’re here to help

We ask operators who may be experiencing an impact on their business as a direct result of COVID-19 or who have any feedback about forward bookings to email Visit Sunshine Coast Industry and Membership Development Manager Andrew Fairbairn on 0427 562 100 or andrew.fairbairn@visitsunshinecoast.com.

Now more than ever it is important that we maintain open lines of communication, and Andrew will remain the dedicated point of contact for all VSC members and local operators seeking support or guidance.

As you look to the needs of your business over the coming months, we encourage operators to visit the dedicated Team Sunshine Coast COVID-19 landing page which provides links to up-to-date health information, guidelines and industry resources.

The Queensland Government will also create a new $500 million loan facility, interest free for the first 12 months, to support businesses and will extend the coronavirus payroll tax deferral to all businesses across the state. Information on the concessional loans will be available here from the end of this week. Information on payroll tax deferral can be found here.