NORTHERN TERRITORY GOVERNMENT ASSISTANCE
Jobs Rescue and Recovery
The Northern Territory government is investing over $300 million for a Jobs Rescue and Recovery plan to help stimulate the economy and keep Territorians in jobs.
1. Business Improvement Grant - $20 million
All NT businesses will be able to access a $10,000 grant, with an additional $10,000 available if they contribute $10,000 of their own funds. Each business is only eligible to access these arrangements once. The funds can be used to complete one or two different jobs on their premises. Grants may be used to purchase goods and services to make permanent physical improvements to premises (land and/or building) that improve business efficiency and customer experience. Businesses can apply for grants from 13 April 2020. Read more on the Business Improvement Grant.
2. Small Business Survival Fund - $50 million
Announced on 23 March 2020, the fund will deliver grants to help keep businesses alive, even when they have to shut.
Eligible businesses will be able to apply for two payments:
an immediate survival payment of between $2,000 and $50,000 to help offset the immediate cost pressures on businesses
a rapid adaption payment of between $1,000 and $5,000 to help businesses make the necessary changes they need to help adapt to the new operating environment.
$20 million from this fund will go towards ongoing payments to help cover operational costs, such as support to:
cover regular costs such as rent and utilities
make invoice payments
keeping people in work who may not be eligible for the federal government’s JobKeeper payment, such as some casuals, recently-employed workers, and visa holders
3. Hiatus on government fees and charges
All regular increases to government fees and charges, including electricity costs, will be put on hold. The government is also working with local councils to reduce rates
4. Relief for businesses in financial hardship
For Territory businesses that demonstrate substantial hardship due to the coronavirus crisis, the territory government will:
Abolish payroll tax for six months for smaller and medium-sized businesses, and defer it for six months for large businesses; and
Slash power, water and sewerage bills by 50 per cent for businesses for six months (for regulated utility tariffs).
The payroll tax waiver will apply to Territory employers with a total payroll of less than $7.5 million where turnover has been reduced by at least 30 per cent because of the coronavirus crisis.
The payroll tax deferral will apply to Territory employers with a total payroll of above $7.5 million where turnover has been reduced by at least 50 per cent because of the coronavirus crisis.
This support will be effective for six months from 1 April, and businesses can apply from 1 May.
The government will also help Territory businesses who need relief from leasing costs, by offering extra support to commercial landlords so they in turn do the right thing by their tenants.
A fast-tracked infrastructure program is being delivered and further opportunities to bring projects forward are also being explored.