What Are Your Entitlements
A legislative package to implement the Federal Government’s economic responses to the spread of the coronavirus / COVID-19, announced on 12 March 2020 and 22 March 2020 has now become law.
The package contains a number of bills dealing with the following key measures;
- Enhancement of instant asset write-off (from $30,000 to $150,000 from 12 March 2020 to 30 June 2020)
- Accelerating depreciation deductions (additional 50% tax depreciation to 30 June 2021)
- Cashflow boost for businesses that employ people (up to $100,000 with a minimum $20,000, to be paid in two stages)
- Stimulus payments to households (two one-off tax-free payments of $750 to certain welfare recipients)
- Additional support for income support recipients (a fortnightly supplement of $550 to income support recipients from 27 April)
- Early release of superannuation (capped at $10,000 for this financial year and next financial year).
Please contact us to assist you in accessing your entitlements.
At your shoulder and at your service.