Coronavirus (COVID-19) resources and support options for fitness businesses

Luke Humble

Luke Humble

Published on April 23, 2021
As a business owner it can be hard to keep up with all the lock-downs and mandates imposed upon fitness, wellness and recreation businesses across Australia during the COVID-19 pandemic. There are many uncertainties around how the industry will be affected long term but what has become clear is that now more than ever, businesses need to access the latest updates and resources from the Australian Government.

To make things easier for you, we have collated these resources together and listed them below for you, so feel free to bookmark this page and return to it whenever you need it as we will update it whenever we find anything new and useful for you.

 

Coronavirus (COVID-19) Resources

Safe Work Australia released a range of resources and information to help businesses stay safe

 

COVID-19 Workplaces Pack for the employer in the gyms and fitness centres industry

Safe Work Australia has produced an incredible resource for employers in the gyms and fitness industry that covers everything from cleaning advice right through to managing stress in the workplace.

For full information, see the Safe Work Australia website:

https://www.safeworkaustralia.gov.au/covid-19-print-pack/991/733

 

Signage and posters – COVID-19

It is important that you have signs and posters around the workplace to remind workers and others of the risks of COVID-19 and the measures that are necessary to stop its spread. This includes posters on what is COVID-19 and how you can stop it spreading, how to wash your hands and the physical distancing requirements.

For full information, see the Australian Taxation Office website:

https://www.safeworkaustralia.gov.au/doc/signage-and-posters-covid-19

 

For information about what COVID-19 public health rules, including on masks, apply in your state or territory, go to your government website:

 

Support for Businesses

The Australian Government has announced a series of measures to support businesses affected by the COVID-19 pandemic which we have listed below.

 

Accelerated depreciation deduction arrangements

Businesses with an aggregated turnover of less than $500 million for the 2019–20 and 2020–21 income years, may be able to deduct the cost of new depreciating assets at an accelerated rate using the backing business investment – accelerated depreciation rules.

For each new asset, the backing business investment – accelerated depreciation deduction applies in the income year that the asset is first used or installed ready for use for a taxable purpose

For full information, see the Australian Taxation Office website:

https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/Backing-business-investment—accelerated-depreciation/

 

Assistance for severely affected regions and sectors

The Government has set aside $1 billion to support communities, regions and industries that were hard hit by the Coronavirus outbreak.

For full information, see the Treasury website:

https://treasury.gov.au/coronavirus/businesses

 

Coronavirus SME Guarantee Scheme

Under the Coronavirus SME Guarantee Scheme, the Government will provide a guarantee of 50 per cent to small and medium enterprise (SME) lenders for new unsecured loans to be used for working capital. Businesses with a turnover of up to $250 million that were recipients of the JobKeeper payment between 4 January 2021 and 28 March 2021 or were affected by the floods in eligible LGAs in March 2021 will be eligible to receive these loans.

For full information, see the Treasury website:

https://treasury.gov.au/coronavirus/sme-guarantee-scheme

 

Increased instant asset write-off

Typically, individual assets less than $30,000 are eligible for the instant asset write off, however, the government has lifted this threshold to $150,000 for assets that are either installed or ready for first use by 30 June 2020.

For full information, visit the Australian Taxation Office website:

https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/Simpler-depreciation-for-small-business/Instant-asset-write-off/

 

Temporary relief for financially distressed businesses

The Government is temporarily increasing the threshold at which creditors can issue a statutory demand on a company and the time companies have to respond to statutory demands they receive.

For full information, see the Treasury website:

https://treasury.gov.au/coronavirus/businesses

 

Further information

For more information about business support measures, see the following Australian websites:

https://treasury.gov.au/coronavirus/businesses

https://business.gov.au/risk-management/emergency-management/coronavirus-information-and-support-for-business

https://www.ato.gov.au/Individuals/Dealing-with-disasters/In-detail/Specific-disasters/COVID-19/

https://www.safeworkaustralia.gov.au/covid-19-information-workplaces

https://www.smartcompany.com.au/coronavirus/covid-19-stimulus-state-guide/

Luke Humble
Luke Humble

Luke is the co-founder of Find My Fit and loves everything to do with health and wellness.

Luke Humble

Luke Humble

Luke is the co-founder of Find My Fit and loves everything to do with health and wellness.

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