The Second $66.1 bn Stimulus Package: What you need to know
Posted 23 Mar '20
Posted 23 Mar '20
The Government released a second, far reaching $66.1 bn stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow support of up to $100,000 for small business employers, and relaxes corporate insolvency laws.
The total $84 billion dollar stimulus package (including the first announced package) was passed without objection late last night (Monday the 23rd of March 2020).
“The measures that have been passed by the Parliament today represent the most significant support for the Australian economy and community since the war,” said Treasurer Josh Frydenberg.
The Prime Minister has warned that there are no “quick solutions” and that business should prepare for 6 months of disruption.
Please download the update here for more detailed information on the second stimulus package.
“So… how much does an SMSF actually cost me?” It’s hands-down the most common question we get from trustees, and the honest answer is: it depends on who you ask – and, crucially, on how they charge you. Let’s cut through the noise and put some real numbers on the table.
Starting a company is an exciting step, but the order in which you register your business and make purchases can affect your GST claims. If you have paid for equipment or start-up expenses personally before your company was incorporated, you may be wondering whether those GST credits are lost.
Starting a business can be equally exciting and daunting. What may have begun as a side hustle can grow into something much bigger - and
eventually, you may reach the point where doing everything yourself is no longer sustainable.
For many small business owners, that next stage of growth brings an important question: should you hire your first employee or engage an
independent contractor?