Government announces Business Stimulus Package Incentivising Investment Growth

In response to the Coronavirus crisis, the Federal Government has outlined new measures in a stimulus package worth nearly $18 billion. Australian Businesses will be some the biggest beneficiaries in an effort to boost the economy and save jobs. Here is a summary of the changes outlined in the plan that will benefit SMEs


The following measures have been designed to assist Australian businesses and economic growth in the short term:


  • Threshold increased from $30,000 to $150,000
  • For businesses with aggregated turnover of less than $500 million
  • The $150,000 threshold applies on a per asset basis so eligible businesses can immediately write-off multiple assets
  • Applies for new or second-hand assets first used or installed ready for use by 30 June 2020.
There are numerous other benefits for small businesses to assist in easing the impact of the Coronavirus, including cash-flow assistance and support for apprentices and trainees, as well as payments for lower income households.
The full impact of the virus is clearly yet to be understood. We at Bigstone will continue to support the growth plans for Australian Businesses with financing solutions for assets and equipment for businesses use.
Bigstone is more flexible than many lenders on the type and age of assets that we will finance, please let us know if you have any funding needs we can assist with.

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