Coronavirus stimulus measures
This edition of TaxWise is dominated by the Federal government and ATO measures in response to the Coronavirus (COVID-19) pandemic.
The main tax and super measures are:
- enhancing the instant asset write-off;
- an accelerated depreciation rate;
- boosting cash flow for employers;
- early release of super; and
- reducing the minimum drawdown amounts.
Other measures include:
- stimulus payments to households;
- additional support for income support recipients; and
- guarantee of lending to SMEs. We will look at these measures in more detail, but contact your tax agent if you have any questions.
READ THE NEWSLETTER HERE:
TaxWise Individuals April 2020