Government Stimulus Package [BUSINESS]

Labor’s priority will always be to protect jobs, help Australian workers, businesses, families and communities through this difficult time, and ensure vulnerable Australians are supported.

 

Labor has been supportive of the Government’s original stimulus package but it has become clear that it is not sufficient.

 

 The original stimulus package includes:

  • Increasing the instant asset write-off;
  • Providing for accelerated depreciation deductions;
  • Providing wage assistance to help small business keep their apprentices and trainees; and
  • Helping small and medium-sized business cover the cost of employee wages and salaries.

 

While we do have some concerns with the package, we are prepared to work with the

Government to resolve these issues and help small and medium sized businesses receive the support they need.

 

I would also note the Treasury is in the process of a establishing a Business Liaison Unit to support business continuity, which is a welcome but belated step in the right direction. 

 

You can find out more information about the support being offered to businesses here,  https://treasury.gov.au/coronavirus or if you have a specific enquiry by emailing [email protected] or calling 02 6263 3030 (Monday-Friday 8:30am to 5:30pm AEST).

I will also pass along your concerns to Labor’s Shadow Treasurer, Jim Chalmers.


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