Travel agents in Bonner will benefit from a share in additional funding support of $130 million from the Coalition Government.

Federal Member for Bonner Ross Vasta MP said local travel agents could apply for funding support in Round 2 of the COVID-19 Consumer Travel Support Program which opens this month.

“The Coalition Government has committed $258 million to support our travel agents through the COVID-19 Consumer Travel Support Program, with $128 million provided in Round 1 to support some 3000 travel agents,” Mr Vasta said.

“We are now providing additional support via Round 2 and I encourage local travel agents to check their eligibility and apply for funding.

“Our support for travel agents complements the $1.2 billion aviation and tourism support package which was designed to get domestic tourists spending and follows the successful JobKeeper program.

“We can all support our local travel agents in Bonner by using their services when booking a holiday this year.”

Eligible travel agents and tour operators who have received a payment under Round One may be entitled to a second payment, ranging between $7500 and $100,000. To be eligible the business must:

• Have been operating a travel agent, inbound tour operator or tour wholesaler business prior to the announcement of the closure of international borders, and are continuing to operate that business;
• Have a turnover of between $50,000 and $20 million (or between $500,000 and $200 million Total Transaction Value – TTV) for the 2019 calendar year; and
• Have been in receipt of the JobKeeper extension (28 September 2020 to 28 March 2021).

For more information, visit the Austrade website here.

The Morrison Government will undertake the most significant reforms to Australia’s insolvency framework in 30 years as part of our economic recovery plan to keep businesses in business and Australians in jobs.

The reforms, which draw on key features from Chapter 11 of the Bankruptcy Code in the United States, will help more small businesses restructure and survive the economic impact of COVID-19.

Federal Member for Bonner Ross Vasta MP said the reforms would give more support to the region’s businesses that had been hit hard by the coronavirus.

“The Morrison Government is standing by small and family businesses and doing all we can to help make sure these businesses come out on the other side of this crisis,” Mr Vasta said.

“Along with early access to super, cash-flow boosts and JobKeeper, we are doing everything we can to keep family businesses up and running.”

As the economy continues to recover, it will be critical that distressed businesses have the necessary flexibility to either restructure or to wind down their operations in an orderly manner.

The reforms will assist incorporated businesses with less than $1 million in liabilities covering around 76 per cent of Australian businesses subject to insolvencies today, 98 per cent of which have less than 20 employees.

Together, these measures will reposition our insolvency system to reduce costs for small businesses, reduce the time they spend during the insolvency process, ensure greater economic dynamism, and ultimately help more local businesses get to the other side of the crisis.

Earlier this year the Morrison Government announced temporary regulatory measures to help financially distressed businesses get to the other side of COVID-19. On 7 September 2020 the Government announced a further extension of this relief to 31 December 2020.

The new processes will be available for small businesses from 1 January 2021.

Last night Parliament passed the Morrison Government’s extension of JobKeeper which is the largest economic lifeline in Australia’s history.

Federal Member for Bonner Ross Vasta MP said more than 5200 businesses in his electorate were currently using JobKeeper.

“JobKeeper is maintaining links between employers and workers, keeping people in jobs and supporting Australian incomes during this pandemic,” Mr Vasta said.

“I have met with many business owners in Bonner who have told me without JobKeeper, they were done and since then, many of them have fortunately recovered to the point where they won’t need this extension.

“However, for those still suffering large downturns, extending JobKeeper is providing a critical lifeline until we get through this global pandemic.”

Without JobKeeper and our other economic support measures, Treasury estimates Australia’s unemployment rate would be 5 percentage points higher.

These measures have saved around 700,000 jobs.

JobKeeper was introduced in March, with a flat payment of $1,500 per fortnight for eligible employees for six months. This meant money could be distributed quickly using existing mechanisms.

For the next stage of JobKeeper – from September until March 2021 – there will be a two-tiered payment:

• For the December quarter, payments will be $1,200 per fortnight per employee, or $750 for workers who were employed for less than 20 hours a week.
• For the March quarter, payments will be $1,000 per fortnight per employee, or $650 for workers who were employed for less than 20 hours a week.

The Australian Government is also supporting jobs with a number of other measures, including:

• Payments to more than 785,000 businesses to boost cash flow.
• A 50% wage subsidy, supporting around 180,000 apprentices and trainees.
• Up to 340,700 JobTrainer places for school leavers and job seekers to upskill.
• The HomeBuilder program, supporting the residential construction industry.
• JobSeeker and the Coronavirus Supplement.
• $750 payments in April and July to millions of Australians, including pensioners.

Further details about these measures are available at treasury.gov.au

“As we work to help the economic recovery, the Government will have Australians’ backs,” Mr Vasta said.

The JobKeeper program and the Coronavirus Supplement have been extended for those in Bonner under the next phase of the Morrison Government’s support for affected businesses and households.

Federal Member for Bonner Ross Vasta MP said the unprecedented economic support for local businesses and their workers was helping the community through the COVID-19 pandemic and bolstering our economic recovery.

“Under the Morrison Government’s next phase of support, the JobKeeper Payment will continue at its current level until 27 September, after which it will be extended for a further six months to 28 March 2021,” Mr Vasta said.

“A two-tiered payment will also be introduced so as to better reflect the pre-COVID-19 income of payment recipients.”

From 28 September until 3 January 2021, the two payments will be $1200 and $750 per fortnight, with the lower payment for employees who worked less than 20 hours a week in the month of February pre-COVID-19.

From 4 January to 28 March 2021, the two payments will be $1000 and $650.

The temporary Coronavirus Supplement for those on income support will also be extended until 31 December 2020.

The $550 per fortnight Supplement will continue until 24 September.

From 25 September until 31 December 2020, the Supplement will be $250 per fortnight, reducing by the same amount as the JobKeeper payment.

Mr Vasta said the continued support for Australians who were without work, and for businesses and their workers would help his electorate to not only get through the crisis, but recover on the other side.

Treasurer Josh Frydenberg said the extension of support recognised Australia’s economic recovery was still in its early stages and a number of local businesses and individuals remained significantly affected by the global COVID-19 pandemic.

“The Morrison Government’s focus remains on reopening the economy where it is safe to do so, but the extension of these measures recognises that some parts of the economy will continue to be affected and need continued support,” the Treasurer said.

“Sadly, as a result of this global health pandemic, businesses will close and people will lose their jobs, but that is why we have extended the Coronavirus Supplement and announced a new skills package to help people transition from welfare to work.”

Mr Vasta said extending the JobKeeper payment beyond September would help keep businesses in business and Australians in jobs as our economy reopens.

“The program has made a difference to local businesses in Bonner by keeping a connection between employers and employees to help them get to the other side of the crisis.”

For more information visit www.treasury.gov.au/coronavirus