Overnight the Australian Government has announced a stimulus package to assist in supporting the economic effects of the coronavirus (COVID-19) outbreak.

The Government’s economic response targets four key areas:


  • Delivering support for business investment
  • Cash flow assistance for employers
  • Stimulus payments to households to support growth
  • Assistance for severely affected regions



  • One off $750 payment to social security, veteran and other income support recipients and eligible concession card holders.



  • Instant asset write-off threshold increased from $30,000 to $150,000 for businesses with aggregated turnover of less than $500M.
  • 15 month investment incentive (through to 30 June 2021) to support businesses investing in asset installation (50% deduction).
  • Between $2,000 and $25,000 in cash flow assistance to support retaining staff for small businesses by reducing PAYG withholding to 50% for six months (for most this is Q3 and Q4 BAS).
  • 50% wage subsidies for businesses with trainees/apprentices for up to nine months from 1 January 2020 to 30 September 2020.



  • Up to $1B in support for regions affected by Coronavirus including one off ad hoc ATO grants.


If you have any question reading the recent stimulus packaging, how it may help you and your business please feel free to contact us