The Federal Government has released a $17.6 billion stimulus in response to Covid-19. A second Federal Stimulus is in the works and we will keep you updated on the details as they are released.
We’ve put together a little infographic with a quick snapshot of the stimulus and what it means for businesses.
According to the Morrison Government, this package is part of their economic plan to keep Australians in jobs, keep businesses in business and support households and the Australian economy as the world deals with the significant challenges posed by the spread of the coronavirus.
The targeted stimulus package is focused on keeping Australians in jobs and helping small and medium sized businesses to stay in business.
The package has four parts:
- Supporting business investment
- Providing cash flow assistance to help small and medium sized business to stay in business and keep their employees in jobs
- Targeted support for the most severely affected sectors, regions and communities;
- Household stimulus payments that will benefit the wider economy
If you need advice during this time, please contact us.