Federal Government unveils coronavirus stimulus packageThe Federal Government has announced today a $17.6 billion economic stimulus package, in a bid to keep Australians in jobs, as the economy will likely be severely impacted by the coronavirus.
The economic stimulus package has various announcement, but focussed on four main parts: |
Supporting business investment
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Providing cash flow assistance to help small and medium sized business
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Household stimulus payments
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Targeted support for the most severely affected sectors, regions and communities
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The Government is also offering administrative relief for certain tax obligations, including deferring tax payments up to four months. This is similar to relief provided following the bushfires for taxpayers affected by the coronavirus, on a case-by-case basis.
We anticipate that more specific detail will become available shortly, given the announcement was only made today and initial information has been limited. |
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