Economic Response to the Coronavirus

We have been keeping a close watch on the information being distributed during the current COVID-19 outbreak.

The Australian Government announced yesterday they will be assisting businesses and households with a $17.6 billion stimulus package during this time. We have included each of the three fact sheets provided by the Australian Government below.


This will support businesses to manage cash flow challenges and help businesses retain their employees. These measures are designed to support employing small and medium enterprises and to improve business confidence. In addition, the wage subsidy for apprentices and trainees will help to ensure the continued development of the skilled workforce that employers need.

Business Investment

This includes backing businesses to invest to help the economy withstand and recover from the economic impact of Coronavirus. The two business investment measures are designed to assist Australian businesses and economic growth in the short-term, and encourage a stronger economic recovery following the Coronavirus outbreak.


This measure will assist around 6.5 million lower income Australians, including pensioners, other social security and veteran income support recipients and eligible concession card holders. Assistance for these households will support confidence and domestic demand in the economy.

If you have any questions regarding the information above, please do not hesitate to phone our team on (03) 9603 0066 for assistance.


Exclusive New Client Offer

Contact our team today to get a FREE 30-minute meeting with one of our expert business accountants, including an ADDITIONAL free Financial Safety Checklist to help you on your journey to financial freedom.