• Business instant asset write-off increased from $30,000 to $150,000 (to run until 30 June 2020)
  • Access to the write-off expanded to include businesses with an aggregated annual turnover of up to $500 million (up from $50 million)
  • In addition, small businesses will also receive payments for up to $25,000 (with a minimum of $2,000) benchmarked and based on 50% of their employees’ amount of taxes withheld in the March and June 2020 quarters (eligibility criteria will apply).

These measures will be effective from 12 March 2020 and will be subject to the passage of legislation.

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