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Economic Response to COVID

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Economic Response to COVID

Hand putting money coin in piggy bank with percentage sign symbol

In response to the Corona virus pandemic, the federal government has announced a $17.6 billion economic stimulus package, equivalent to 0.9% of GDP, which includes support for businesses in Australia. The stimulus package includes a commitment from the government to:

๐Ÿ‘‰ Subsidise half the wages of 117,000 apprentices in small businesses

๐Ÿ‘‰ Provide one-off $750 payments to more than six million Australians to spend in our economy now (almost two and a half million pensioners will receive this support)

๐Ÿ‘‰ Provide direct cash support of up to $25,000 for small and medium-sized businesses โ€“ which employ over seven million Australians โ€“ to boost their cash flow

๐Ÿ‘‰ Back businesses to keep investing by increasing tax incentives to help them buy new equipment now.

Snapshot in attached picture !!!

For more information on the Australian Governmentโ€™s Economic Response to COVID-19 visit treasury.gov.au/coronavirus

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