The Prime Minister has launched numerous multi billion dollar initiatives to assist SME businesses survive this crisis.  

Business' will be able to immediately write-off multiple assets as the threshold has increased from $30k to $150k.

Deduction of 50 per cent of the cost of an asset, with existing depreciation applying to the balance of the asset’s      cost.  This is available to business' with turnover below $500m purchasing certain new depreciable assets.

Businesses with less than $50m turnover p.a. to cover the costs of employee wages and salaries equal to 50 per cent of PAYG withheld for businesses that withhold tax, with a minimum of $2,000 and a maximum of $25,000 over six months.

To subsidise 50% of the apprentice’s or trainee’s wage for nine months 

There are now multiple federal and state government packages available for businesses in the building industry.

Find out more by contacting Finding Money for tailored information.