On 12 March 2020, the Australian Government announced a $17.6 billion economic stimulus package to support individuals, businesses and households affected by the rapidly spreading COVID-19, which was today declared a pandemic by the World Health Organization.
The package announced by the Australian Government is focused on providing support with:
1. Supporting business investment (effective from 12 March 2020)
2. Cash flow assistance for businesses
3. Household stimulus package (effective from 31 March 2020)
4. Targeted support for most severely affected regions
Taking effect from 12 March 2020:
Effective from 31 March 2020:
If you require more information or would like some support accessing any of the support measures announced, please contact the Crowe Tax Advisory team. We will keep you updated on any new developments as they come to hand.
 Prime Minister of Australia, Economic stimulus package, Media Release, 12 March 2020