RELEASED on 2nd July 2020. Please share this exciting set of programs among your networks …
We hope you enjoy this information to help grow your farming enterprise.
- Agriculture and COVID Advice and Opportunities: Including Food Security & Agriculture, Environment Permit Holders, Exports, Imports, Travel, Domestic Animals, Industry & Business Support See all opportunities at https://www.agriculture.gov.au/coronavirus
Emergency bushfire support for primary producers
Up to $75,000 is available to farmers, fishers and foresters located in declared bushfire disaster areas. This is to cover costs for immediate and emergency needs not covered by existing insurance policies – Closing date not yet advised.
- REGIONAL TOURISM BUSHFIRE RECOVER GRANTS PROGRAM – STREAM 1
Up to $30K is offered The program has two funding streams which, together, will support events, concerts, festivals and visitor attractions in fire-affected regions to assist with recovery efforts and encourage international and domestic visitors to come back to the regions. Deadline 18 December 2020. More? https://www.austrade.gov.au/Australian/Tourism/Tourism-and-business/Grants/regional-tourism-bushfire-recovery-grants
- WORKING FROM HOME DURING COVID – TAX DEDUCTION
ALL STATES: We understand that due to COVID-19 your working arrangements may have changed. If you have been working from home, you may have expenses you can claim a deduction for at tax time. Tracking these expenses can be challenging, so from 1 March to 30 June 2020, we have introduced a temporary shortcut method. It’s a simple way to calculate these expenses with minimal record-keeping requirements. We may extend this period, depending on when work patterns return to normal. In most cases, if you are working from home as an employee, there will be no capital gains tax (CGT) implications for your home. For more information about working from home prior to 1 March, or the other methods you can use to calculate your working from home expenses, More? Home office expenses
- INSTANT ASSET WRITE-OFF UP TO $150,000
ALL STATES: In March, the Federal Government massively expanded the scope of the Instant Asset Write-Off scheme in the early stages of the coronavirus economic shock. The scheme changed from allowing businesses making $50 million per year to write off purchases up to $30,000, to businesses making $500 million per year being allowed to deduct purchases worth up to $150,000. Today Treasurer Josh Frydenberg said that arrangement, which was due to end on July 1, would remain in place until the end of the year. Deadline December 2020. More? https://www.abc.net.au/news/2020-06-09/government-extends-asset-write-off-tax-time-boost/12334398
- COVID-19 RELIEF & RECOVERY FUND – FREIGHT ACCESS FOR AUSTRALIAN AGRICULTURAL EXPORTERS
ALL STATES: The Australian Government is backing Australia’s agriculture and seafood export sectors through a new $110 million initiative to help exporters get their high-quality products into key overseas markets, with return flights bringing back vital medical supplies, medicines and equipment critical to the ongoing health response. Deadline. More? https://nationals.org.au/securing-freight-access-for-australia-agricultural-and-fisheries-exporters/
- BOOSTING CASH FLOW FOR EMPLOYERS
ALL STATES: The initial cash flow boost is based on the amount of your PAYG withholding.
Eligible businesses that withhold tax on their employees’ salary and wages will receive a credit equal to 100% of the amount withheld, up to a maximum of $50,000.
The minimum credit will be $10,000, even if the amount required to be withheld is zero. However, you will not be eligible to receive any more cash flow boosts until your PAYG withholding exceeds $10,000 over the relevant periods
Monthly lodgers will receive a credit that is calculated at three times the rate (300 percent) in the March 2020 activity statement, to align with quarterly lodgers. Additional cash flow boost: Eligible entities who received initial cash flow boosts will receive additional cash flow boosts, for the periods June to September 2020, equal to the total amount of initial cash flow boosts received. This will be delivered in either two or four installments depending on your reporting period.
Deadline: September 2020. More? https://treasury.gov.au/coronavirus/businesses
- FARM HOUSEHOLD ALLOWANCE
Recent announcement to simplify the process and key settings:
ALL STATES: On 27 September 2019, the Australian Government announced changes to Farm Household Allowance (FHA). Some of the changes are subject to the passage of legislation. There are no changes for current customers or to the claiming process at this time.
The Australian Government announced changes to Farm Household Allowance (FHA).
- Access will increase from 3 years in a lifetime to four years out of every ten.
- Farmers will get an extra payment if their 4 years of FHA ends before 1 July 2020. There will be a one-off payment of $13,000 for families and $7,500 for individuals.
- The means and asset tested FHA payment is approximately $500/fortnight.
- Farming families can hold up to $5 million in assets and still qualify.
- They are also seeking to change the FHA eligibility criteria so that farmers can earn up to $100,000 a year, up from $80,000, in off-farm income, and still receive the FHA.
To find out more call the Rural Financial Counselling Service 1800 686 175 for assistance.
- BUSINESS RECYCLING EQUIPMENT REBATE – NSWThe Bin Trim Rebates program assists eligible New South Wales businesses (including facility managers and recyclers) with rebates of between $1000 and $50,000 covering up to 50% of the cost of buying recycling equipment.
- glass crushing machines
- commercial worm farms
- expanded polystyrene (EPS) compaction equipment
- recycling bins and bin equipment
- public place recycling bins if the material is collected under a commercial and industrial contract
- other (check with your assessor)
You will need to contact a Bin Trim assessor to get a free waste assessment. The Bin Trim assessor can determine whether your business is eligible for a rebate based on the contents of your waste bin.
- BUSINESS RECYCLING PROGRAM – ACT
Did you know that over 900 businesses across the ACT and Queanbeyan are already signed up to be Actsmart business recyclers? Is your business one of them? If not, it’s time to act smart and become environmentally responsible!
Actsmart Business Recycling is a FREE program to help your business put efficient recycling and waste management into action. It’s available to any business in the ACT or Queanbeyan and is easy to put in place.
By following a straightforward 10-step program, your business can:
* reduce costs—recycling waste can be cheaper than tipping at landfill
* reduce impacts on the environment—a motivating factor for customers and staff
* benefit from public recognition of your policies and actions—through annual accreditation
* meet corporate environmental commitments.
Once you’ve implemented the FREE program, you will be accredited as an Actsmart business and recognised as a business that is actively recycling and being environmentally responsible.
Now available in Braidwood, Bungendore and Captains Flat.
Check out these tips for a sustainable Christmas!
Want to know who else is accredited? Check out the Actsmart business accredited recyclers.
For more information on how the FREE Actsmart Business Recycling Program can work for your business, email firstname.lastname@example.org or call Access Canberra on 13 22 81.
- Small Business Bushfire Recovery Grants Victoria
Grants of up to $50,000 are available to eligible Victorian small businesses and non-profit organisations (NPOs) affected by the Victorian bushfires commencing 21 November 2019.
These grants are intended to help pay for costs of clean-up and reinstatement of eligible small businesses that have suffered direct damage as a result of bushfires.
Applications are open until 31 July 2020 and can be made via https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/small-business-bushfire-recovery-grants-victoria
The Regional Community Leadership Program aims to support initiatives that develop and facilitate the emergence of local leaders, strengthen existing community leadership capabilities and develop stronger connections between local leaders and regional development initiatives.View details
The $200 million Future Industries Fund to support six high-growth sectors that have the potential for extraordinary economic growth – to create jobs and attract investment in Victoria. View details
The Latrobe Valley Economic Development Program is a $40 million initiative that responds to the needs of the region and supports its economic diversification, growth and resilienceView details
The Regional Infrastructure Fund (RIF) seeks to assist the growth of rural Victoria by providing grants for infrastructure projects that have the potential to stimulate economic activity in Regional Victoria. View details
The fund aims to attract new investment, create new jobs and retain existing jobs in regional Victoria and to support businesses to improve their productivity and competitiveness View details
The Stronger Regional Communities Plan aims to support rural and regional towns in attracting families and young people to live and work.View details
The Latrobe Valley Supply Chain Transition Program (LVSCTP) is a fund of up to $5 million that will provide intensive tailored support to businesses in the Latrobe Valley supply chain to guide them through the transition period as Hazelwood Power Station and Mine and Carter Holt Harvey Saw Mill close.View details
The $103 million Regional Tourism Infrastructure Fund helps grow and realise the potential of regional Victoria’s visitor economy which attracts more than 14 million domestic and international visitors every yearView details
The Latrobe Valley Economic Facilitation Fund is a $10 million fund established as the first initiative under the $40 million Latrobe Valley Economic Development Program.View details
The Gippsland Hi-Tech Precinct will be a centre for research, business incubation, new product development, start up support, and education and training.View details
The Victorian Government is delivering vital infrastructure and transport upgrades in Ballarat to position the city for future population growth and investment opportunities. View details
- Tasmanian Freight Equalisation Scheme
A summary about the Tasmanian Freight Equalisation Scheme and what can be claimed:
- The Tasmanian Freight Equalisation Scheme is Federally funded and provides financial assistance to eligible companies for the inherently higher costs involved in moving products across Bass Strait
- The rationale is that moving goods by sea the 420km across Bass Strait is substantially more expensive than transporting the equivalent distance by road on the mainland and the scheme aims to equalise these costs by providing a partial, retrospective rebate. Products moved by air are not eligible
- It applies to both directions ie the Northbound movement of Tasmanian produced goods to mainland domestic or export markets or the Southbound movement of eligible products consumed in the manufacturing/production process or aides to these processes
- It is only the “bluewater” component of the freight cost which receives assistance. Any road legs in the overall price are not eligible. It is not necessary to know the “bluewater” component to claim
- In order to claim, certain facts are required including transport costs (net of GST), weight & size of consignment, origin & destination
- Only companies involved in Manufacturing, Mining or Primary Industry can claim on the Southbound aspect of the scheme
- It is the movement of “things” across Bass Strait that attracts Southbound assistance. The bigger, heavier, bulkier the thing is, the more the freight component will be and the greater the assistance
- Products purchased from Tasmanian suppliers but which were originally manufactured on the mainland may be eligible on the basis that the purchase price may include the original Bass strait freight costs
- Not every item will be eligible. The basic ground rules are that it needs to involve a Bass Strait movement by sea, be Australian made, or if imported, undergo a manufacturing process on the mainland first and relate directly to the manufacturing or production process. The construction of a building is not eligible, but the machinery that goes inside it may be
- There is no eligibility on purchases from suppliers who ship products under a National Pricing Policy (ie where a client in Tasmania pays exactly the same costs as a client say 10 minutes from the supplier’s factory in NSW)
- Safety equipment or clothing is NOT eligible
As a very, very rough figure, the TFES rebate per pallet can be around $45-$50 for full height pallet. This may allow clients to determine whether or not to pursue TFES on the basis of the volumes they are purchasing.
- Jacinta Young, TFES Claims Specialist , Net Sea Freight – Tasmania
- T: (03) 6326 4679 F: (03) 6326 9544
- E: Jacinta.Young@NetSeaFreight.com.au
- S: www.netseafreight.com.au