NT's Jobs Rescue and Recovery Plan - Business Hardship Package

The Jobs Rescue and Recovery plan's Business Hardship Package is the latest initiative to help Northern Territory (NT) businesses that have experienced significant hardship as a result of the coronavirus (COVID-19) pandemic.
Support is available to Territory businesses with a turnover less than $50 million who can demonstrate a reduction of turnover of 30% or more due to coronavirus (COVID-19).

Once approved for the hardship register, businesses will receive a business hardship certificate that they can use to access relevant concessions such as payroll tax, utilities, rents and rates being offered as part of the Business Hardship Package.

The registration will enable businesses to apply for:
  • Waiving or deferring payment of payroll tax
  • Reducing utilities bills
  • Providing incentives for commercial landlords to reduce rents
  • Reducing or deferring rates
  • Other relief which may be offered from time-to-time agreed to by the responsible minister
The Business Hardship Package is available for a period of up to six months from 1 April 2020 to 30 September 2020.

The package is designed to help reduce costs for local businesses and keep them open and operating now, as well as in the rebound and recovery phase once the coronavirus (COVID-19) crisis is over and restrictions start to lift.

To find out more and how to apply follow the below link:
 
https://businessrecovery.nt.gov.au/businesses/business-hardship-package
 
Please contact us for assistance with navigating the economic stimulus packages and determining your eligibility for the tax and business measures. We can also help you with the development of your whole of business approach to respond to current and emerging issues arising in the current environment as well as with implementation tasks. As certain incentives in the various economic packages will only be available for a short period of time, businesses should consider taking action as soon as practicable.