It is hard to believe how our lives have suddenly changed overnight, especially when we thought we have all the answers in this modern world.
As we’ all aware, the Australian economic outlook has deteriorated since the Government’s initial Economic Response announced on 12 March 2020.
In response to this, on 22 March 2020, the Government announced a second set of economic responses, which extend the Stimulus Package to a total of $189 billion across the forward estimates, representing 9.7% of annual GDP.
We hope that this 2nd stimulus package will offer clients the necessary cash assistance to keep their business running during this uncertain economic condition.
I want to encourage all clients to review their insurance policies, both business and individual (i.e. key person insurance, business interruption insurance, income protection insurance, etc.). Ensure you have coverage in the event of the Coronavirus affecting you and causing disruption resulting in loss of income.
Director – My Accounting Advantage