The Federal Government recently announced (on 22nd March 2020) several Superannuation measures as part of its second stimulus package to assist self-funded retirees curb the economic impact Coronavirus.
While the stimulus announcements from both the Federal and various State Governments have been very welcome, there has been very little in the announced packages to support self employed small businesses.
In addition to the large scale Federal Government initiatives announced progressively, it is great that State Governments have also come to the party as far as announcing wide scale State Tax changes.
On the 22 March 2020, The Commonwealth Government announced its second stage of its economic stimulus package to support the economy at this precarious time. These measures complement and in some cases replace announcements made on the 11 March.
We here at Lowensteins have been pro-actively trying to adapt to the ever increasing developments and the ever-changing environment.
To that end, as we are most conscious of trying to ensure the health and safety of our staff and clients, we have instituted the following steps: