Coronavirus – Government Stimulus Package for Small Businesses in Australia

The government has just announced plans to stem the coronavirus impact and hopefully ensure the country does not go into a recession.

The stimulus package is worth $17billion and should give a much needed boost to the economy which is yet to see the worst.

Here’s what you need to know being a small business…

Cash flow assistance for businesses

The Government has announced a $6.7 billion boost to Cash Flow for Employers by up to $25,000 with a minimum payment of $2,000 for eligible small and medium-sized businesses.

The payment will provide cash flow support to businesses with a turnover of less than $50 million that employ