ATTENTION GOLD COAST BUSINESSES!!

I’ve been doing some research to help you!

Here’s some good news 🙂

The Morrison Government has today announced a $17.6 billion economic plan to keep Australians in jobs, keep businesses in business and support households and the Australian economy as the world deals with the significant challenges posed by the spread of the coronavirus.

Our targeted stimulus package is focused on keeping Australians in jobs and helping small and medium sized businesses to stay in business.

The package has four parts:

Supporting business investment

Providing cash flow assistance to help small and medium sized business to stay in business and keep their employees in jobs

Targeted support for the most severely affected sectors, regions and communities;

Household stimulus payments that will benefit the wider economy

The measures are all temporary, targeted and proportionate to the challenge we face.  Our actions will ensure we respond to the immediate challenges we face and help Australia bounce back stronger on the other side, without undermining the structural integrity of the Budget.

Important things to know:

$6.7 billion to Boost Cash Flow for Employers by up to $25,000 with a minimum payment of $2,000 for eligible small and medium-sized businesses.

 
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.
 
This measure will benefit around 690,000 businesses employing around 7.8 million people.
 
Businesses will receive payments of 50 percent of their Business Activity Statements or Instalment Activity Statement from 28 April with refunds to then be paid within 14 days
 
Read more below