This notice details the Federal Government announcement on 12 March regarding the increase to the Instant Asset Write-Off (IAWO). This came into immediate effect as of the announcement.

The packages are aimed at boosting the economy in the immediate short-term. Furthermore, their goal is to assist the recovery from the effects of the coronavirus outbreak in the long-term. Read more to see how this may affect or benefit your business.

The spread of the COVID-19 coronavirus has seen the serious and continuing impact on the Australian economy. Due to this, many businesses are under considerable financial strain at the moment and are weighing their options.

To assist SME businesses during this time, on the 20th March the Australian Banking Association announced the Small Business Relief Package.