The Government has announced a $17.6 billion investment package to support the economy as we brace for the impact of the coronavirus. The yet to be legislated four part package focuses on business investment, sustaining employers and driving cash into the economy. For business Business investment Increase and extension of the instant asset write-off Accelerated depreciation deductions Cash flow assistance for small and medium sized business Tax-free payments up to $25,000 for

This could be welcome relief for a number of business. Katrina is looking into the Stimulus Package and will advise what steps need to be taken in the near future. For now here is the highlights Cash flow assistance for businesses $6.7 billion to Boost Cash Flow for Employers by up to s. The payment will provide cash flow support to businesses with a turnover of less than $50 million that employ staff, between 1 January 2020 and 30 June 2020. The payment will be tax free. Thi