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Australia enacts economic stimulus and support measures – Action required by business

27 March 2020

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Tax Alerts, Legislation & Policy, Na...

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Australia

Executive summaryOn 23 March 2020, the Australian Federal Government introduced a package of Bills which the Australian Parliament then passed to enact the measures announced on 12 March and 22 March 2020 which are intended to cushion the economic impact of the coronavirus (COVID-19).The cost of the Federal Government measures including its health package funding is now AU$189 billion.1This EY Global Tax Alert provides further detail following the earlier March Tax Alerts, to assist businesses to understand, analyze and plan for actions to ensure they avail themselves of the following time-limited business measures:Increase in the instant asset write off up to $150,000 per...