Australian Government - Economic Response to the Coronavirus – Support for Business Investment Last updated: 21 July 2020
The Government is backing businesses to invest to help the economy withstand and recover from the economic impact of Coronavirus. The two business investment measures in this package are designed to assist Australian businesses and economic growth in the short term, and encourage a stronger economic recovery following the Coronavirus outbreak.
These measures will support over 3.5 million businesses (over 99 per cent of businesses) with aggregated annual turnover of less than $500 million.
To find out more, download a copy of the Fact Sheet which covers the Government’s existing announcement about the extension of the instant asset write off until 31 December 2020, and also includes a summary of the existing 50 per cent investment allowance which applies until 30 June 2021.