Australian Prime Minister Scott Morrison has announced a $66 billion coronavirus stimulus package to support small businesses on 22 March 2020.
“There is a lot of pain coming but we’re going to cushion the blow as best we can,” says Scott Morrison in a statement.
Not-for-profits and small businesses will receives a tax-free, cash payment of up to $100,000 with a minimum payment of $20,000 for eligible companies.
Additional measures include temporarily doubling the Jobseeker Payment [previously called Newstart], allowing people to access $10,000 from their superannuation, and reducing deeming rates by a further 0.25 per cent.
The Commonwealth is also offering to guarantee unsecured loans of up to $250,000 for a term of up to three years.
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For further information on how the Australian Government can support you, see the following links.
Government agency websites