Coronavirus Stimulus Package

March 27, 2020

Australian money - dollars and coins

Parliament has now passed the stimulus packages.

There is a 3rd stimulus package before parliament – but its likely this will be specific for the tenancy Act. We will keep you posted.

What does this mean to you, your family and business?
I have copied the attached into separate explanations provided from both the website and Treasury websites. This way you can read all or choose to read the ones relevant to your circumstances.

These attachments do not replace the need to call us if you have queries or concerns. We are here to help in any way we can.

Even if you are not in business and the attached does not impact you directly, you may know someone who is and may find the information therein useful to their circumstances.

Feel free to pass this onto them so they can open dialogue with their own accountant or, they can contact us if they have any queries.

We are all impacted by the new circumstances which we find ourselves in and now is the time we need to pull together and support each other.

Attachment 1 – Cash Boost for Small Business and Not for Profit Organisations Employers
This is for small/medium business who employ staff and paid wages before 12th March 2020.

Attachment 2 – Other measures for Small Business and Sole Traders whether or not you employ staff
ATO support and initiatives for small business.

Attachment 3 – Assistance for businesses who hire apprentices and trainees
If you hire apprentices and trainees, this may prove invaluable to you.

Attachment 4 – Increased and accelerated income support Jobseeker Assistance and Additional Payment
This applies to:

  • Permanent employees who are stood down or lose their employment
  • Sole traders
  • The self employed
  • Casual Workers
  • Contract workers who meet the income tests as a result of the economic downturn due to the Coronavirus

This could also include a person required to care for someone who is affected by the Coronavirus

Attachment 5 – Tax Assistance
The ATO has introduced measures which can assist you with meeting tax obligations whether you are an individual or small business. Contact us or the ATO on 1800 806 218 or visit the ATO website for further information.

Attachment 6 – Fact_sheet-Payments_to_support_households $750 payments
This covers your eligibility to receive the two $750 payments.

Attachment 7 – Coronavirus SME Guarantee Scheme – $250K small business loans
This fact sheet provides requirement on obtaining a $250K small business loans

We will keep you up-to-date as situations change however, if you do have a query no matter how big or small please do not hesitate to contact us.

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