Victorian Government has announced two new support packages delivering over $3 billion in “cash grants, tax relief and cashflow support.”
The Government announced that the $150,000 instant asset deduction has been extended for the next 6 months. Understanding which financial year to make the purchase is key.
The ATO is looking carefully at businesses who have made adjustments to their circumstances in an attempt to track down businesses trying to abuse the system.
The Victoria State Government have eased a vast majority of its stage three COVID-19 restrictions as of 1 June 2020. The changes however, come with a new condition.
For every action there is a reaction. And while we’re not criticising the government’s policy response to COVID-19, we recognise that such intervention often has unintended consequences.
It’s a tough time to make a decision but investors should be aware of the options available to them.