Stimulus Measures Release

Presentation1Dear valued clients and friends of Yield,

As we are all aware the current environment is one of unprecedented uncertainty and never before have we all had to pull together to the extent we have to now.

We at Yield implore people to support local business to the extent they can, especially in preference to big business.  We need our local businesses to be able to ride out this storm so they can continue to offer employment opportunities for our kids and put funds back into our sporting clubs, schools and community associations into the future.  Positive actions now are what will ensure our community fabric will be strong enough to endure the coming months and into the future.

That said the government is attempting to do its piece in attempting to stimulate the economy by providing cash incentives and stimulus via increased asset write off limits for new asset purchases.

Measures announced to date are as follows and we are expecting new announcements as events unfold.  We will keep you abreast of future changes as they come to hand.

Measures to Boost Cashflow of Employers

These measures are in place to date to boost cash flow and are aimed primarily at supporting business to retain employees;

  • A minimum $2,000 and maximum $25,000 payable via the BAS for business with employees.
  • Payments to Employers of apprentices up to $7,000 per apprentice per quarter up to a total of $21,000 per apprentice

Further detail as to how the measures would apply to you and some practical worked examples are contained in the Fact Sheet in the link below.

Fact Sheet Assistance for Businesses

Measures to Stimulate Business Asset Purchases

These announcements are aimed at stimulating asset purchases by business;

  • Increasing the instant asset write off limit from $30,000 to $150,000 for business with aggregated annual turnover of less than $500 Milllion.
  • Measure in place from announcement date of 12 March 2020 to 30 June 2020
  • A deduction of 50% of the cost of eligible assets on installation. This measure will affect most clients post 30 June 2020 once the $150,000 write off ceases.
  • Measure in place from 12 March 2020 to 30 June 2021

Both measures need to be passed as law to be implemented.

Further detail as to how the measures would apply to you and some practical worked examples are contained in the Fact Sheet in the link below.

Fact Sheet Support for Business Investments

Measures to boost available cash for Households receiving Centrelink Support

Announcement for boost to household cash flow for Centrelink recipients;

  • $750 one off payment per person
  • 90% of payments to go out by mid April 2020

Fact sheet on application and eligibility of measures below.

Fact Sheet for Households

Conclusion

Whilst these measures are significant and will assist numerous business operators. there are members of our business community that are overlooked – in particular sole traders and small businesses with no employees. We expect that further measures will be announced to assist these businesses.

We will continue to post information on our channels as it comes to hand.

We wish everyone the very best and please be in touch if you need clarification on how the measures apply to your circumstances.