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[av_heading heading=’Australian Government’s Economic Response to the Coronavirus’ tag=’h2′ link_apply=” link=’manually,http://’ link_target=” style=’blockquote modern-quote modern-centered’ size=’4vw’ subheading_active=’subheading_below’ subheading_size=’20’ margin=’0′ padding=’0′ color=’custom-color-heading’ custom_font=’#000000′ custom_class=” admin_preview_bg=’rgb(34, 34, 34)’ av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-1do8e9′][/av_heading]

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[av_heading heading=’The Federal Government’s $17.6 billion emergency budget has been announced last week with the intention of protecting the economy by maintaining confidence, supporting investment and keeping people in jobs and to strengthen the wider economy. Let’s have a close look at the key measures:’ tag=’h2′ link_apply=” link=’manually,http://’ link_target=” style=’blockquote modern-quote’ size=” subheading_active=” subheading_size=’15’ margin=’15,,,’ padding=’10’ color=” custom_font=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-k7x0y04f’ custom_class=” admin_preview_bg=’rgb(255, 255, 255)’][/av_heading]

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Delivering support for business investment

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Cash flow assistance for businesses

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Assistance for severely affected regions

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Stimulus payments to households to support growth

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For more information on the Australian Government’s Economic Response to Coronavirus visit treasury.gov.au/coronavirus
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Economic Response to the Coronavirus

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[av_row row_style=’avia-heading-row’ av_uid=’av-1bwhno1′][av_cell col_style=” av_uid=’av-19utozl’]AIM[/av_cell][av_cell col_style=” av_uid=’av-17j02q9′]WHAT
[/av_cell][av_cell col_style=” av_uid=’av-15ztu3l’]WHEN
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[av_row row_style=” av_uid=’av-14xcdk1′][av_cell col_style=” av_uid=’av-12kd6dt’]Delivering support for business investments[/av_cell][av_cell col_style=” av_uid=’av-11fkrq9′]Increasing the instant asset write-off
Lifting the threshold to $150,000 (from $30,000) — and making more businesses eligible to use it.[/av_cell][av_cell col_style=” av_uid=’av-3m693l’]Immediately, until 30 June 2020[/av_cell][/av_row]
[av_row row_style=” av_uid=’av-3emh5d’][av_cell col_style=” av_uid=’av-whl0pt’][/av_cell][av_cell col_style=” av_uid=’av-urh2w1′]Backing business investment
Offering businesses a time-limited incentive to invest, by accelerating depreciation deductions.[/av_cell][av_cell col_style=” av_uid=’av-spagwx’]Immediately, until 30 June 2021[/av_cell][/av_row]
[av_row row_style=” av_uid=’av-rlnn69′][av_cell col_style=” av_uid=’av-qcqx0h’]Cash flow assistance for businesses[/av_cell][av_cell col_style=” av_uid=’av-nxz7b5′]Boosting cash flow for employers
Helping small and medium-sized businesses cover the costs of employee wages and salaries (50 percent of PAYG withheld, with a minimum $2,000 payment and up to a cap of $25,000 over 6 months).[/av_cell][av_cell col_style=” av_uid=’av-mawsdt’]Covers amounts withheld between 1 January — 30 June 2020[/av_cell][/av_row]
[av_row row_style=” av_uid=’av-l1ak0h’][av_cell col_style=” av_uid=’av-in5cht’][/av_cell][av_cell col_style=” av_uid=’av-h0fd3l’]Supporting apprentices and trainees
Wage assistance to help small businesses to keep their apprentices and trainees.[/av_cell][av_cell col_style=” av_uid=’av-fdiqi9′]1 January 2020 to 30 September 2020[/av_cell][/av_row]
[av_row row_style=” av_uid=’av-1e25xt’][av_cell col_style=” av_uid=’av-cgtvht’]Stimulus payments to households to support growth[/av_cell][av_cell col_style=” av_uid=’av-ans9nl’]Stimulus payments
One-off payment of $750 to social security, veteran and other income support recipients and eligible concession card holders to support confidence and domestic demand in the economy.[/av_cell][av_cell col_style=” av_uid=’av-ve84h’]From 31 March 2020[/av_cell][/av_row]
[av_row row_style=” av_uid=’av-6zoe8h’][av_cell col_style=” av_uid=’av-5x3xo1′]Assistance for severely affected regions[/av_cell][av_cell col_style=” av_uid=’av-3qdsch’]Support for Coronavirus-affected regions and communities
Financial support to help regions and communities most affected by the Coronavirus to recover.[/av_cell][av_cell col_style=” av_uid=’av-286hfl’]As soon as practicable[/av_cell][/av_row]
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Support available from the Australian Taxation Office

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The Australian Taxation Office (ATO) will implement a series of administrative measures to assist Australians experiencing financial difficulty as a result of the COVID-19 outbreak. Businesses affected by the coronavirus are encouraged to get in touch with the ATO to discuss relief options. Once contacted, the ATO will work with businesses to help them tailor a support plan for their needs and circumstances.

Options available to assist businesses impacted by COVID-19 include:

Employers will still need to meet their ongoing super guarantee obligations for their employees.

Please refer to the website for more information: Support measures to assist those affected by COVID-19
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Using our expertise to achieve your financial goals!
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