The Federal Government's economic stimulus package explained
Many small businesses across the country face economic uncertainty as the global coronavirus pandemic bites. In response, the Federal Government has moved to help support businesses through major economic stimulus initiatives. These include:
Cash flow boost of up to $100K
A JobKeeper subsidy to help retain jobs
A 50% wage subsidy for apprentices and trainees
Income support of $550 a fortnight for eligible sole traders and the self-employed
Temporary relief from insolvency
Increase to instant asset write-off scheme (now $150K)
We thought we'd share an article with you that provides a concise view of the package. For the most current and complete information on what's available, go to www.business.gov.au
Article: A small business guide to the economic stimulus package
From wage support and subsidies for apprentices to tax incentives, this article looks at the Federal Government economic stimulus package and what it means for SMEs in simple terms.
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