Stimulus Package passed through Parliament…

 

 Overnight the Federal Government passed the Stimulus Package; the bills were passed without objection in both the House of Representatives and the Senate after some amendments were made.

We have put together an infographic below in attempt to summarise the package.

Also, helpful links to more detail have been included at the bottom of this update

 

Support for Businesses

Boosting cash flow for employers – Read further
Temporary relief for financially distressed businesses – Read further
Increasing the instant asset write-off – Read further
Backing Business Investment – Read further
Supporting apprentices and trainees – Read further
Assistance for affected regions, communities and industries – Read further
Supporting the flow of credit – Read further
Queensland Government support – Read further
ATO Tax support – Read further

Supporting Individuals and Households

Temporary early access to superannuation – Read further
Temporarily reducing superannuation minimum draw-down rates – Read further
Reducing social security deeming rates – Read further
Increased and accelerated income support – Read further
Payments to support households – Read further