Flattening the curve – or slowing the continued spread of COVID-19 has created a scary paradox of restrictions for businesses large and small. Isolation is necessary to keep the virus at bay and hospital intakes are at workable levels (and we want to keep our loved ones safe and healthy), but doing so wreaks havoc on our economy. When businesses lose their ability to turn a profit (or even open their doors), employees lose their income, meaning they don’t have money to pay their bills, let alone help keep local business afloat – leading to more layoffs. Recognising the devastating affect this will have for hundreds of thousands of Australians and businesses, the Aussie Government has come to the table with a continually re-evaluated raft of financial support measures for individuals, employers and businesses to give them their best chance of getting back on their feet when the crisis has passed.
Australia is close to a nationwide Stage 3 shutdown, though each State and Territory is responsible for setting their own restrictions - you can find detailed information on their website.
Current restrictions include:
As of this week, many of the Australian states have moved to Stage 3 COVID-19 lock-downs with other states expected to quickly follow. The main change in restrictions being previous advice about staying home is now enforceable with on-the-spot fines. The public is advised to only leave their home for one of the following four reasons:
These COVID-19 restrictions put strain on businesses – even if you’re allowed to remain open or you’re able to move to a remote workforce, you may still experience financial difficulties, have to cut or stand down staff, have outstanding supplier bills or other bills to pay (including rent.) To that end, the Australian Government have released a range of helpful financial measures to assist. While our list is not exhaustive (and the Government will continually reassess what is required), you can stay up to date of the Australian Government’s Treasury page.
The highlights:
The corona-crisis and COVID-19 shut-downs are likely to continue evolving quickly, so it’s important to stay informed. Download the official government “Coronavirus Australia” app in the Apple App Store or Google Play, or join our WhatsApp channel on iOS or Android.