Economic stimulus to support the Sunshine Coast
Sunshine Coast businesses and residents will be supported as part of the Morrison Government’s multi-billion dollar economic plan to keep people in jobs, keep businesses going and households supported as the challenges posed by the coronavirus expand.
Federal Member for Fairfax Ted O’Brien welcomed an announcement from Prime Minister Scott Morrison of a targeted $17.6 billion stimulus package
“This is good for the country and it’s good for the Coast,” Mr O’Brien said.
“Just as the Government has been acting decisively to protect people’s health, this package is about decisive action to support people in the face of economic challenges,” he said.
“We’re a small business economy here on the Coast and we have sectors that are particularly exposed such as tourism and retail.
“I’m pleased to see this package open to assisting more than 45,000 small businesses here locally,” Mr O’Brien explained.
“If we can keep our businesses in business by providing cash flow assistance, then more hard-working Sunshine Coast locals can be kept in their jobs.”
Under the package, businesses that employ apprentices or trainees could be eligible of a wage subsidy of 50 per cent for up to nine months (commencing 1 January, ending 30 September 2020).
“Where a small business cannot retain that apprentice, the subsidy will be available to a new employer that takes on that same apprentice,” Mr O’Brien said.
Mr O’Brien also said that many seniors called the Sunshine Coast home, with a higher proportion of residents over the age of 65 than nearly any other region in Queensland.
“We have more than 40,000 age pensioners on the Sunshine Coast who may receive a one-off tax-free stimulus payment of $750,” he said.
Age pensioners could also benefit from a further $219 per year as a result of the Government’s decision to reduce deeming rates in response to the changing economic conditions.
“All of these measures are targeted to mitigate the effects of the coronavirus and ensure our local economy remains strong and ready to bounce back,” Mr O’Brien said.
To view the PM's full media release - click HERE.
The below factsheets detail specific aspects of the Government's economic stimulus package:
- Overview - Economic Response to the Coronavirus
- Stimulus Payments to Households
- Support for Business Investment
- Assistance for Businesses
- Assistance for Severely Affected Regions
Details of the Federal Government's $66.1 billion economic support package announced on 22 March can be found HERE.