The Stimulus Package: What You Need To Know

The Government has announced a $17.6 billion investment package to support the economy as we brace for the impact of the coronavirus.

1. Business investment
   • Increase and extension of the instant asset write-off
   • Accelerated depreciation deductions
2. Cash flow assistance for small and medium sized business
   • Tax-free payments up to $25,000 for employers
   • Wage subsidy of up to 50% of an apprentice or trainee wage
3. Targeted support for severely affected sectors, regions and communities

4. Household stimulus payments to drive cash into the economy
   • Tax-free $750 payment to social welfare recipients

 
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