The Government is increasing the instant asset write-off threshold from $30,000 to $150,000 and has expanded access to included businesses with aggregated annual turnover of less than $500 million through June 30, 2020.
This program provides a limited 15-month investment incentive by accelerating depreciation deductions. Businesses with a turnover of less than $500 million can deduct 50% of the cost of an eligible asset on installation with the existing depreciation rules applying to the balance of the asset’s cost.
This measure will provide up to $25,000 back to small and medium-sized businesses with a minimum payment of $2,000 for eligible businesses
Eligible employers can apply for a wage subsidy of 50% of the wage of an apprentice or trainee for up to 9 months from January 1, to September 30, 2020.
Facebook is offering $100 million in cash grants and ad credits to 30,000 eligible small businesses in over 30 countries.
Google is giving small and medium-sized businesses (SMB’s) worldwide $340 million in ad credits. Businesses that have had active Google Ad accounts since the beginning of 2019 will automatically see notifications of credits in the coming months.