The Australian Government is ensuring Norfolk Island businesses and residents financially affected by coronavirus have access to a range of economic support measures.
The support is provided in recognition of the significant impact the pandemic is having on the local Norfolk Island economy.
A range of these economic support programs are already flowing to Norfolk Island, including the JobSeeker payment and special Child Care Relief through Banyan Park.
Norfolk Island businesses also have access to the JobKeeper payment scheme. As some of you will already be aware, a requirement of the JobKeeper scheme is that businesses have an Australian Business Number (ABN), and that the ABN was in place on 12 March 2020. In recognition that a number of Norfolk Island businesses do not currently have an Australian Business Number (ABN), the Taxation Commissioner has been given flexibility to allow Norfolk Island businesses additional time to get an ABN.
I encourage those businesses without an ABN to apply for one as soon as possible. Information on this process can be found at www.abr.gov.au/business-super-funds-charities/applying-abn.
This will allow businesses impacted by coronavirus to access a subsidy to continue paying their employees. The Australian Government will provide a fortnightly payment of $1,500 per eligible employee until 27 September 2020. For employees, this means they can keep their job and earn an income, even if their hours have been cut. This measure is designed to help businesses keep people in their jobs and re-start when the pandemic is over.
