ASSISTANCE FOR SOLE TRADERS

  • March 22nd, 2020 at 10:31 pm

Today the Government has announced a second set of economic responses which, combined with our previous actions, total $189 billion across the forward estimates, representing 9.7 per cent of annual GDP.

To find out more, please go to www.australia.gov.au

These fact sheets have been updated following today’s further announcements.

The Morrison Government also recognises a significant number of sole traders and Australians who are self-employed have had their income reduced as a result of the COVID-19 pandemic.  The Government has announced an expansion to the eligibility to the Job Seeker Payment to support sole traders and the self-employed.

To view the media release in full, please click here.

The Government is also allowing sole traders who have seen their hours of work or income fall 20% or more as a result of COVID-19 to access their superannuation capped at $10,000 this financial year and a further $10,000 next financial year. The withdrawals will be tax free.

Please also go to https://www.australia.gov.au to view all the latest COVID-19 news, updates and advice from Australian Government Agencies.

Regards