Australia’s startup sector has reacted favourably to the Morrison government’s $130 billion economic stimulus package, announced on Monday. The government will pay a $750 a week wage subsidy to businesses who retain workers over the next six months. The program also applies to sole traders. “We will pay employers to keep paying their employees, and… Read more »
The economic crisis brought on by COVID-19 is unlike anything the startup sector and broader business community experienced before. The economic rule book has been thrown out the window and Australian government’s response reflects gravity of the situation, with Prime Minister Scott Morrison announcing a massive $130 billion stimulus package yesterday, worth 11% of annual… Read more »
Workers will receive $1500-per-fortnight ‘JobKeeper’ wage subsidy for the next 6 months It applies to businesses losing a minimum 30% of income (50% for revenue over $1bn) The ATO will manage the scheme through Single Touch Payroll The flat rate payment applies to people employed at March 1 (provided they are reinstated if subsequently… Read more »
Australian banks are expanding their program of six-month loan deferrals to larger companies, offering relief on up to $250 billion in business borrowing. The major banks are backing the Australian Banking Association’s (ABA) extended Business Support Package to 98% of all businesses with a loan from an Australian bank, increasing the existing $3 million small… Read more »
A member of staff at logistics technology company GetSwift (ASX: GSW) has died from COVID-19, the New York headquartered, ASX-listed startup said. CEO Bane Hunter wrote to colleagues and shareholders today saying they are devastated and saddened at the news. Hunter said they would not release the name of the person, believed to be in… Read more »
Victoria is moving to “stage three” shutdown restrictions as the state’s coronavirus infection rate climbs past 800 cases. Premier Daniel Andrews is moving to give the state the legal framework to implement the national measures announced by Prime Minister Scott Morrison on Sunday night, including a limit of no more than two people gathered… Read more »
Workers will receive $1500-per-fortnight ‘JobKeeper’ wage subsidy for the next 6 months It applies to businesses losing a minimum 30% of income (50% for revenue over $1bn) The ATO will manage the scheme through Single Touch Payroll The flat rate payment applies to people employed at March 1 (provided they are reinstated if subsequently… Read more »
Public gatherings will be limited to two people under new rules to deal with coronavirus in Australia, Prime Minister Scott Morrison said. The new rules means previously allowed outdoor personal training sessions are cut to one-on-one, and skate parks and playgrounds will close from Monday. “In addition, public areas – public playgrounds, outside gyms… Read more »
The Morrison Government has launched Coronavirus Australia, a new app for official COVID-19 information, as well as a Whatsapp feature, partnering with Facebook and Atlassian to produce it. Prime Minister Scott Morrison announced the launch of the app during a $1.1 billion commitment to additional telehealth, mental health, domestic violence and emergency relief services on… Read more »
$669m is for telehealth – online consultations with GPs and other health services $74m is for mental health amid concerns about the impact of self-isolation $150m is for domestic and family violence support following a 75% spike in online searches A new government app offers advice, the latest news and other support $200 is for… Read more »
People arriving in Australia from midnight March 30 will be forced to quarantine in designated hotels in the capital cities The Army will be sent to assist local police in ensuring quarantine measures are observed More economic stimulus is coming, including plans to ‘hibernate’ businesses to emerge from the shutdown State and territory leaders are… Read more »
The Australian government is considering putting businesses into an economic ‘hibernation’ to ensure that they aren’t left with debts and are able to resume ‘business as usual’ as soon as the coronavirus crisis is over. Finance Minister Mathias Cormann told the ABC the government was looking for a “fair and equitable” way to share the… Read more »
Premier Gladys Berejiklian has suggested tougher lockdown conditions could be coming as NSW reported 190 new cases of coronavirus overnight. While this represents 10% fall on the previous day’s increase, the premier said she is not ruling out stricter lockdown measures in an effort to turn the tide on diagnoses and flatten the curve. “If… Read more »
ASX-listed MedAdvisor has fast-tracked plans to launch an “Uber” for pharmacy delivery services as part of the company’s response to the COVID-19 crisis. MedAdvisor (ASX: MDR) shares have soared more than 25% today on the news to close at 42 cents, with the company’s CEO, Robert Read, saying they’d skip a pilot phase and go… Read more »
The parents of Australian children have ignored the pleadings of Prime Minister Scott Morrison and Chief Medical Officer and increasingly withdrew their children from school over the past week. Even before the Victorian government announced it would end its first term early and the NSW Premier urged parents to keep their kids at home… Read more »
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