Advice

The $130 billion JobKeeper bonanza: who gets it, and how, and who misses out

- April 6, 2020 3 MIN READ

The A$130 billion $1,500-per-fortnight JobKeeper payment will benefit six million Australians for six months, with payments expected from May 1. Eligible businesses include not-for-profits and businesses with turnovers of less than $1 billion per year whose turnover is down 30%. Businesses with turnovers of more than $1 billion per year need to have lost 50%… Read more »

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FROM THE FRONTLINE: How food startup Two Hands is responding to the coronavirus crisis

- April 3, 2020 4 MIN READ

The economic crisis brought on by COVID-19 is unlike anything the startup sector and broader business community experienced before. The economic rule book has been thrown out the window and Australian government’s response reflects gravity of the situation, with Prime Minister Scott Morrison announcing a massive $130 billion stimulus package, in a bid to keep people… Read more »

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Medtech Atomo Diagnostics lands massive COVID-19 deal, closes $30 million raise early ahead of IPO

- April 3, 2020 2 MIN READ

Rapid blood test startup Atomo Diagnostics is playing its part in the fight against coronavirus, signing a deal with French diagnostics company, NG Biotech, to supply up 2.465 million of its rapid, blood-based COVID-19 tests in 2020. The sale landed as the Sydney-based healthtech venture’s $30 million Initial Public Offer was oversubscribed at 20 cents per… Read more »

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Working parents will get free childcare under the Morrison government’s latest coronavirus boost

- April 2, 2020 2 MIN READ

  Childcare will be free for parents working to keep society functioning through the coronavirus shutdown – as well as those who’ve taken their child out of care but want to keep the place – under new subsidies announced by Prime Minister Scott Morrison. Around one million families in 13,000 childcare and early learning centres… Read more »

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The startup sector reacts to the Australian government’s $130bn jobs and business ‘hibernation’ strategy

- March 31, 2020 4 MIN READ

Australia’s startup sector has reacted favourably to the Morrison government’s $130 billion economic stimulus package, announced on Monday. The government will pay a $750 a week wage subsidy to businesses who retain workers over the next six months. The program also applies to sole traders. “We will pay employers to keep paying their employees, and… Read more »

Advice

FROM THE FRONTLINE: How startups are tackling the coronavirus crisis

- March 31, 2020 4 MIN READ

The economic crisis brought on by COVID-19 is unlike anything the startup sector and broader business community experienced before. The economic rule book has been thrown out the window and Australian government’s response reflects gravity of the situation, with Prime Minister Scott Morrison announcing a massive $130 billion stimulus package yesterday, worth 11% of annual… Read more »

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Australia’s massive $130bn stimulus package will pay businesses $750 a week for each worker they keep in a job

- March 30, 2020 3 MIN READ

  Workers will receive $1500-per-fortnight ‘JobKeeper’ wage subsidy for the next 6 months It applies to businesses losing a minimum 30% of income (50% for revenue over $1bn) The ATO will manage the scheme through Single Touch Payroll The flat rate payment applies to people employed at March 1 (provided they are reinstated if subsequently… Read more »

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Banks are upping their support for business to prevent commercial property evictions during the COVID-19 downturn

- March 30, 2020 3 MIN READ

Australian banks are expanding their program of six-month loan deferrals to larger companies, offering relief on up to $250 billion in business borrowing. The major banks are backing the Australian Banking Association’s (ABA) extended Business Support Package to 98% of all businesses with a loan from an Australian bank, increasing the existing $3 million small… Read more »