Stimulus Measures for Businesses Amid the COVID-19 Crisis
Further to our previous correspondence on the COVID-19 crisis, we’re pleased to be receiving many calls from clients looking to find solutions, take actions and identify opportunities to move forward.
Remember ‘adapt and overcome’ should be the focus of all businesses and individuals right now, understanding that this will mean different things for different people.
Here’s what Advivo is doing to help our clients and friends through these turbulent times and we urge you to please contact us sooner rather than later if you would like any assistance with these.
As you’re no doubt aware, the COVID-19/Coronavirus situation is changing daily and there have already been several measures announced by the Government which are being implemented to help businesses work through these challenging times.
We have collated and summarised the raft of information to make it easy to identify and understand stimulus measures which may be available to you. Stay up to date with all of our latest posts here.
Key Government Measures
Firstly, we have cherry picked what we believe to be the key measures which will be of great use to many. These are explained below:
- Boosting cash flow for employers
- Pay As You Go (PAYG) income tax instalment variations and refunds now available
- ATO assistance and deferrals available
- Social security measures and assistance for individuals
- Government guarantees loans to support businesses.
- Temporary early release of superannuation now available
- Temporary drawdown reduction for pensions
- QLD Payroll Tax Relief
Government Stimulus Packages Roadmap
Secondly, we have prepared a ‘Roadmap of the Government’s current stimulus packages’ as at 24-03-2020 complete with links to the relevant Government authorities.
Please remember, if you would like any assistance or clarity over any of these please don’t hesitate to contact us.
Keep safe and look after each other.
Yours Sincerely,
Leon Stephan
Managing Partner
