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Message from Mirandas

In this email, we have set out the main parts of the stimulus package that apply to most of our client base, in a relatable way for you and your business. We have already broadcast the full details of our package through our business newsletters, web page and Facebook page. This email does not cover every aspect, only the ones we believe most relevant to the majority of our client base. FOR INDIVIDUALS From 27 April, you may be eligible to receive a fortnightly payment of $550, plus two separate payments of $750 tax free. You must be registered with Centrelink and the payment will come from them - not the ATO. There are new asset thresholds and categories, so please ensure you have a

COVID-19

ECONOMIC RESPONSE TO THE CORONA-VIRUS WHAT YOU NEED TO KNOW Instant asset write-off increased For new or second-hand assets first used or installed ready for use from 12 March until 30 June 2020, the instant asset write-off threshold will be increased from $30,000 to $150,000 for businesses with aggregated annual turnover of less than $500 million (up from the current $50 million threshold). The threshold applies on a per asset basis, so eligible businesses can immediately write-off multiple assets. The threshold will revert to $1,000 for small businesses (turnover less than $10 million) from 1 July 2020, however businesses not entitled to the instant asset write off from 1 July 2020 may be

03 97733647

Unit 8 / 263-271 Wells Road Chelsea Heights VIC Australia 3196

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