Economic Response to the Coronavirus

While the full economic effects from the virus remain uncertain, the outlook has deteriorated since the Government’s initial Economic Response announced on 12 March 2020.

 

The spread of the virus worldwide has broadened, and is expected to be more prolonged. Governments, both international and domestic, have announced stricter mitigation measures to slow the spread of the virus, which are having significant economic impacts.

On Sunday 22nd March, the Government announced a second set of economic responses which, combined with the previous actions, total $189 billion across the forward estimates, representing 9.7 per cent of annual GDP.

Included in the announcement are temporary changes to superannuation. Please contact us on |PHONE| to discuss your circumstances before acting on these changes.

Please find below the key elements of this latest stimulus;

Supporting Individuals and Households

Support for Businesses

If you would like to discuss any of the areas targeted, please call on |PHONE|.

Source: Australian Government – The Treasury