Summary of Commonwealth Government Initiatives

The Commonwealth Government has committed to the following initiatives:

  • Jobkeeper Payments Program.
  • Instant asset write-off increases (but note that the limit for motor vehicles remains at $57,581).
  • Accelerated depreciation measures.
  • Relaxation of some directors’ duties regarding trading while insolvent.
  • A guarantee of 50 per cent to SME lenders for new unsecured loans to be used for working capital.
  • Payments to small to medium sized businesses to boost cashflow.
  • Tax Payments Support Plan.
  • Mandatory Code for Commercial Leasing.
  • Apprentice and trainee subsidies.
  • Childcare Stimulus.