Earlier today (Sunday 22nd March 2020), Prime Minister Scott Morrison announced a second round of Federal government stimulus measures, in response to the ongoing coronavirus pandemic.
He also confirmed that the National Cabinet, comprising State Government leaders, would convene later this evening to determine further measures required. It is understood (but not confirmed) that both NSW and VIC State Premiers will push to enact a shutdown (not a lockdown) of non-essential businesses and service in the coming days.
We await further news in this regard, however in relation to the key aspects of the Federal Government announcement today, these include: -
BUSINESS CASH PAYMENTS
BUSINESS LOAN GUARANTEE
What to do if you require assistance?
Collectively we are facing a period of unprecedented uncertainty. Circumstances are changing daily, and it is difficult for any of us to keep on top of everything that is available to you to assist you, whilst juggling your health, family and business priorities.
We encourage you to please be in contact with your adviser at Maxim if you have any questions or uncertainty at all, whether that be the practical impact of these stimulus measures on your business, how to access them, how to deal with questions from your team members and assistance available to them (or you), or simply to speak to someone.
Maxim have enacted our business contingency plan and our remote working plan and will remain open to support you in these tough times.
Please don’t hesitate to reach out and call us at any time.
Stay safe and support each other.