Here are some short points about the assistance available to trucking businesses as a result of the economic stimulus announced in response to the Coronavirus.
- Small and medium sized trucking businesses that employ staff will be eligible for a cashflow boost of up to $100,000 with a minimum payment of $20,000. Businesses with an aggregated turnover of less than $50 million will be eligible.
- Eligible truck owner drivers will be able to apply for an expanded JobSeeker Payment with a new coronavirus supplement.
- Coronavirus SME Guarantee Scheme: a government guarantee for small and medium business loans.
- Increasing the instant asset write-off threshold from $30,000 to $150,000 and expanding access to include businesses with aggregated annual turnover of less than $500 million (up from $50 million) until 30 June 2020