On Sunday 22 March 2020, the Federal Government released a $66.1 billion stimulus package, with total stimulus equating to nearly 10% of Australia’s Gross Domestic Product (GDP).
The aim of the package is to provide cash flow support for businesses up to $100,000, income support payments for individuals, targeted changes to the superannuation rules and relaxation of director liability and corporate insolvency laws.
While all the measures haven’t been legislated yet, it is likely that they will be passed. Parliament met last night (Monday 23rd March) and we are waiting to hear if the measures have been legislated.
Please view our PDF of what we will cover in our second webinar.