The emergence of the novel coronavirus (Covid-19) has had implications across the world. This is impacting businesses around Australia and the Federal and State Governments are rapidly providing assistance in a number of ways to assist all types of business navigate the changes ahead.

The team at Thompson Partners are compiling all of the information we can and will keep this page updated as new information comes to hand, please bookmark it as a key resource for your business.

Attached and below listed are the most relevant Coronavirus stimulus package measures fact sheets for your business announced recently.

  1. Cash Flow Boost for employers –  up to $100,000 to eligible small and medium sized businesses, and not-for-profits (including charities) that employ people.
  2. Delivering support for business investment -  instant asset write-off (IAWO) threshold from $30,000 to $150,000
  3. Assistance for severely affected regions and sectors - $1 billion to support  communities, regions and industries most significantly affected by the Coronavirus outbreak.
  4. Supporting the flow of credit – Govt guarantee of 50 per cent to SME lenders for new unsecured loans to be used for working capital.
  5. Early Access to Super $10,000 x 2
  6. Reduction in Minimum Pension payments from Super 4% to 2 %.
  7. Providing temporary relief for financially distressed businesses
  8. QLD State Government initiatives including $250K loans and Payroll Tax Deferral.
  9. JOBKEEPER payment - information for Employers - each eligible employee receives at least $1,500 per fortnight (before tax).

Please contact our office for further assistance on how your business may access these measures.

 

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