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Tuesday, 16 June 2020
Issue 32.0 

1.  WORKPLACE HEALTH AND SAFETY

Mental Health support from Victorian Small Business Commissioner

The Victorian Small Business Commissioner has released a small business owner's guide to creating a mental health plan in response to coronavirus (COVID-19). 

Developed in consultation with Beyond Blue (among other organisations), the user-friendly guide has been created to help business owners:  

  • identify stressors that might come up  
  • recognise personal changes that signal when extra support may be needed 
  • plan actions to take in response such as getting accurate information about supports, including help to resolve a small business dispute or a rent dispute between a commercial tenant and landlord.  

The guide comes with an easy to use template  for small business owners to build their own tailored plan and an example plan to use as a guide point.

To find out more about this resource, members can head to https://www.vsbc.vic.gov.au/news-publication/supporting-small-business-owners-mental-wellbeing-in-response-to-coronavirus-covid-19/ 

2.  INDUSTRY GUIDANCE

Financial solutions for COVID-19 affected businesses

Export Finance Australia provide a range of finance solutions for exporters or businesses in an export-related supply chain.

Businesses who have encountered any shipment problems, payment difficulties or business interruptions and are unable to secure finance due to COVID-19, Export Finance Australia may be able to assist.

Finance solutions:  

  • Working capital support 

To finance against supplier invoices or international purchase orders 

  • Capital investment 

To purchase new equipment and expand your export operations 

  • International expansion 

To establish or grow your business operations overseas 

  • Online growth 

To invest in eCommerce and grow your sales to international customers. 

Read more HERE.

3.  INDUSTRIAL RELATIONS

Update on coronavirus measures statement

Discussing the National Cabinet meeting on Friday, Prime Minister, Scott Morrison, has said the cabinet further discussed Australia's current COVID-19 response, easing restrictions in the coming months, helping Australians prepare to go back to work in a COVID-safe environment, and getting the economy moving again.

The Chief Medical Officer, Professor Brendan Murphy, provided an update on the measures underway, and the latest data and medical advice in relation to COVID-19, confirming there are now less than 500 active COVID-19 cases in Australia. It has also been confirmed that testing remains high, with more than 1.7 million tests undertaken in Australia.

Treasury Secretary, Dr Stephen Kennedy, provided an update on the labour market and current economic conditions.

Members can learn more about the latest national cabinet updates here.
4.  GOVERNMENT ANNOUNCEMENTS

Help for 2020 tax returns

The Australian Taxation Office (ATO) has recognised that the community has experienced significant challenges this year, particularly where new circumstances mean that people are receiving a different type of income or able to claim new deductions. Assistant Commissioner Karen Foat said the ATO has a range of different approaches to support taxpayers and the community through this tax time. "We know many of our clients and their agents will have questions about how different types of income and expenses may affect their obligations this year. We're helping to make sure people know how to get it right." 

Read more: https://vacc.com.au/News/ArtMID/840/ArticleID/3949/Coronavirus-Tax-in-the-time-of-COVID

Victorian Business Growth Fund Ready for Business

Treasurer Tim Pallas this week opened the $250 million Victorian Business Growth Fund – an innovative program that will see the Government partner with First State Super and back small-to-medium enterprises who want to grow but can’t raise the funds or find the right investment partner.

The Victorian Business Growth Fund is a Victorian-first initiative that will invest in business on commercial terms and take an equity stake in business, rather than providing a grant.

As businesses continue to deal with the economic impacts of coronavirus, accessing the capital needed to grow is likely to become an even greater barrier than it was before. The Victorian Government will partner with the superannuation industry to back these businesses to grow.

These investments will help drive permanent, high-skilled jobs in priority areas of the economy, including jobs for people who are unemployed, jobs for apprentices or jobs for people attempting to reskill.

For more information about the Victorian Business Growth Fund or to apply online, visit https://www.dtf.vic.gov.au/funds-programs-and-policies/victorian-business-growth-fund 

5.  PREVIOUS UPDATE ISSUES

You can read previous Updates of COVID-19 HERE.


Geoff Gwilym
Chief Executive Officer




Disclaimer:  The information gathered has been drawn from a number of sources and VACC strongly recommends that members revert to the primary source of information for any clarification.