Australian Economy Stimulation Measures Government measures announced yesterday by the Hon. Prime Minister Scott Morrison to stimulate the Australian economy are welcomed by the Automotive Industry. “The new car market has been in recession for almost two years and dealers will be hopeful that these measures breathe some life into an industry that is on the ropes,” AADA chief executive James Voortman says. The $17.6 billion economic plan aims to keep Australians in jobs, keep businesses going and to support households and the Australian economy as the world deals with the significant challenges posed by the spread of the coronavirus Covid-19. “The expanded instant asset write-off is most welcome and will allow many more businesses to make use of the scheme to invest in a much larger range of vehicles,” Voortman says. Source: AADA.
“Stamp duty exemptions on the sale of new cars would facilitate renewal of the fleet, leading to safer, cleaner and more efficient vehicles,” Voortman says.
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