COVID-19 & Government Stimulus Update - 31 March 2020


Government Stimulus No. 3 – Keeping Australian business ticking over and Australian workers employed

 The Prime Minister released a third stimulus package to further support the Australian people and our economy.  It is designed to allow business affected by Corona Virus to keep ticking over until the emergency has passed.  Businesses that have already shut are also eligible so they can slumber along rather than having to permanently shut.  Additionally, the proposal is available to Sole Traders representing the first direct boost to this segment of the Australian economy.

 We have prepared a summary of the new proposed package for your information. However, as we have been getting a very high volume of calls relating to this, we have gone a step further and added the government fact sheets for those looking for more detail. We are happy to discuss in depth with you should you wish and remain committed to giving you the best information possible.



 Please note that this is not yet law and may be subject to change as the government tries to put these measures in place.  Currently the turnover test is self-assessed and can be projected but until it is made law there is uncertainty about how this will be policed.

 Wishing you all the best,

 David, Todd & the team.

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