In response to the coronavirus outbreak, the Government has announced a suite of measures to help the economy withstand and recover from the implications arising from the Coronavirus.
The Government intends to introduce legislation in late March 2020.
The following are proposed assistance measures for business:
✅ The instant asset write-off allowance will be increased from $30,000 -$150,000
✅ Automatic grants up to $25,000 to business with up to $50million in turnover
✅ Wage subsidy for employers that employs apprentices and trainees
✅ A one-off $750 stimulus payment to pensioners, social security recipients, veteran and other income support recipients and eligible concession card holders
If you require further assistance or clarification regarding the economic response measures associated with your business, contact our office.
Matovic Business Accountants
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