Businesses are also enjoying deferrals on almost 300,000 loans while a range of state government fees, charges and payroll tax have been paused or waived.
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Once this support ends, many businesses are expected to discover they cannot continue or will have to shed staff to remain viable.
The government is looking at measures to help troubled firms close in a way that leaves operators in a position to start new businesses, setting up the economy in 2021 and beyond. It is also considering assistance for firms that are not bankrupt but still facing a tough future to restructure or rewrite their business plans.
Tax assistance for businesses planning to invest in new plant or equipment will also feature in the package.
Council of Sm…
Read the full article at: https://www.smh.com.au/politics/federal/multibillion-dollar-plan-to-help-businesses-survive-or-close-20200703-p558p7.html
