May budget ready to add to stimulus

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 13-Mar-20

The federal government’s $17.6 billion stimulus package includes a one-off $750 payment to all welfare recipients, with the payment to be tax-free. The package also includes an increase in the instant asset write-off from $30,000 to $150,000. The measure will apply until 30 June, and will be available to businesses with turnover of up to $500 million, up from the current threshold of $50 million. Other measures include a $1 billion payment to a regional and community fund that will assist businesses most badly impacted by the coronavirus, along with a 50 per cent wage subsidy for apprentices that will provide up to $21,000 to employers.

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