The second stage of the $66 billion economic stimulus package was announced on Monday; and last night, the Federal Government passed the $83.6b economic stimulus package to support Australians. Below are the key areas of what this could mean for you and/or your business.

The spread of the novel coronavirus (COVID-19) continues to escalate worldwide, despite the concerted efforts of many governments, communities, and the World Health Organisation (WHO). Last week, the WHO declared COVID-19 as a global pandemic.

The coronavirus, which has quickly spread across China and now abroad, led to a dip in global equity markets in late January. Accordingly, there has been increased market volatility and it is likely that the virus will lead to a significant impact on economic growth for the first quarter of 2020 and potentially beyond.