{"id":38133,"date":"2020-03-23T13:01:42","date_gmt":"2020-03-23T02:31:42","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=38133"},"modified":"2020-03-23T13:42:47","modified_gmt":"2020-03-23T03:12:47","slug":"coronavirus-solar-business","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/coronavirus-solar-business\/","title":{"rendered":"How The Financial Stimulus Can Help Your Solar Business"},"content":{"rendered":"<div id=\"attachment_38379\" style=\"width: 1210px\" class=\"wp-caption alignnone\"><img decoding=\"async\" aria-describedby=\"caption-attachment-38379\" class=\"wp-image-38379 size-full\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/covid-stimulus.jpg\" alt=\"Coronavirus COVID-19 and solar installer businesses\" width=\"1200\" height=\"628\" srcset=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/covid-stimulus.jpg 1200w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/covid-stimulus-300x157.jpg 300w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/covid-stimulus-1024x536.jpg 1024w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/covid-stimulus-768x402.jpg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><p id=\"caption-attachment-38379\" class=\"wp-caption-text\">If you own a solar business, the government has announced a surprisingly generous support package for small\/medium businesses. Here&#8217;s what you need to know.<\/p><\/div>\n<p>On March 12th, in response to the economic slowdown caused by the coronavirus and bushfires, the Australian Government announced a $17.6 billion economic stimulus.\u00a0 Then, at some point in the last week, they must have spoken to someone in the Treasury who actually knows what&#8217;s going on, because they then increased it by an order of magnitude to $189 billion.<!--more--><\/p>\n<p>This is 9.7% of GDP and well over twice the size of the stimulus we had 12 years ago for the Global Financial Crisis.\u00a0 Because a large part of the stimulus consists of loans and convincing people to blow a portion of their retirement savings, the direct cost to government accounts that will have to come from tax revenue in the future is estimated to be around $66 billion.<\/p>\n<p>I wasn&#8217;t sure we&#8217;d get a stimulus because the Coalition has spent the last 12 years saying how bad they are.\u00a0 Lucky for us, we&#8217;ve been saved by their utter lack of principles.\u00a0 While I&#8217;m pleasantly surprised by the large scale economic response to the crisis, I am far less impressed by their response to the actual crisis crisis.\u00a0 Because the official reaction to the pandemic has so far been weak, it appears up to us to take additional measures to improve the safety of ourselves and those we care about.<sup class='endnote'><a href='https:\/\/www.solarquotes.com.au\/blog\/coronavirus-solar-business\/#en-38133-1' id='enref-38133-1' onclick='return hhEndnotes_show(38133)'>1<\/a><\/sup>\u00a0 This appeals to my sense of independence, but it&#8217;s really not a good idea when it comes to public health.\u00a0 Hopefully, this giant stimulus indicates the government is about to get serious when it comes to containing the disease.<\/p>\n<p>The economic stimulus is designed to support business and will assist the solar energy industry in a range of ways.\u00a0 I&#8217;ll describe the provisions it contains, but only in general terms because I&#8217;m not an accountant and aren&#8217;t qualified to give advice on business taxation.<sup class='endnote'><a href='https:\/\/www.solarquotes.com.au\/blog\/coronavirus-solar-business\/#en-38133-2' id='enref-38133-2' onclick='return hhEndnotes_show(38133)'>2<\/a><\/sup><\/p>\n<p>I&#8217;ll also mention a form of economic support that is coming from the banking sector.\u00a0 They are allowing small businesses and homeowners to <a href=\"https:\/\/www.afr.com\/companies\/financial-services\/banks-defer-loan-payments-for-six-months-20200320-p54c3d\" target=\"_blank\" rel=\"noopener noreferrer\">defer loan payments for 6 months<\/a>.<\/p>\n<h2>Six Ways The Stimulus Supports Business<\/h2>\n<p>The <a href=\"https:\/\/treasury.gov.au\/coronavirus\/businesses\">official government webpage is here<\/a>, but here&#8217;s a summary:<\/p>\n<ol>\n<li>Businesses with an annual turnover of under $50 million will receive a subsidy of $20,000 to $100,000.\u00a0 This will be done by allowing them to keep all their employee&#8217;s PAYG tax payments over either a 4 or 6 month period to a maximum of $50,000.\u00a0 Then, at the end of this period, the government will give the businesses an amount equal to what they have already received.<\/li>\n<li>The government will pay half the wage of current apprentices and trainees for up to 9 months for businesses with less than 20 employees, with a maximum subsidy of $21,000 per apprentice\/trainee.<\/li>\n<li>Tax deductions have been increased for business investments.\u00a0 This is very useful for anyone wanting to <a href=\"https:\/\/www.solarquotes.com.au\/commercial-solar-guide.html\">install commercial solar<\/a> systems and I&#8217;ve already <a href=\"https:\/\/www.solarquotes.com.au\/blog\/commercial-solar-write-off\/\">written about it here<\/a>.<\/li>\n<li>Businesses will be protected from going bust by temporarily making it more difficult for creditors to wind them up.<sup class='endnote'><a href='https:\/\/www.solarquotes.com.au\/blog\/coronavirus-solar-business\/#en-38133-3' id='enref-38133-3' onclick='return hhEndnotes_show(38133)'>3<\/a><\/sup><\/li>\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=l91ISfcuzDw\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">One billion dollars<\/a> will be spent on assistance for severely affected regions such as those heavily dependent on tourism or overseas education, but most of it &#8212; $715 million &#8212; will be used to help airlines.<\/li>\n<li>A variety of steps will be taken to ensure low interest loans will be available.<\/li>\n<\/ol>\n<p>I&#8217;ll go into more detail on these points, but first I&#8217;ll mention a form of support coming from the banking sector and cover the rationale for having a stimulus in the first place &#8212; just so people will know why the government has done an about-face on this.<\/p>\n<h2>Banks Allowing Loan Payments To Be Deferred<\/h2>\n<p>An additional form of support that&#8217;s not part of the government stimulus package is being provided by banks.\u00a0 They now allow small businesses to defer loan payments for 6 months.\u00a0 Not having to make repayments for half a year is obviously useful for any business doing it hard.\u00a0 However, this is not a free lunch, as once the 6 month deferment period is over loan payments will either be increased or the pay back time extended.\u00a0 The big banks have also announced they will allow <a href=\"https:\/\/www.smh.com.au\/business\/banking-and-finance\/nab-westpac-may-allow-mortgage-repayment-holidays-of-up-to-six-months-amid-virus-shock-20200320-p54c7m.html\" target=\"_blank\" rel=\"noopener noreferrer\">the same for home loans<\/a>.<\/p>\n<h2>Why A Stimulus?<\/h2>\n<p>Normally when the economy heads starts having a hard time the <a href=\"https:\/\/www.rba.gov.au\/\" target=\"_blank\" rel=\"noopener noreferrer\">Reserve Bank of Australia<\/a> reduces interest rates.<sup class='endnote'><a href='https:\/\/www.solarquotes.com.au\/blog\/coronavirus-solar-business\/#en-38133-4' id='enref-38133-4' onclick='return hhEndnotes_show(38133)'>4<\/a><\/sup>\u00a0 This puts more money in the pockets of anyone with loan payments, which includes the two-thirds of home owners with mortgages.\u00a0 It also makes borrowing cheaper, so people are more likely to splurge on new cars and furniture or invest in solar panels.\u00a0 Lowering interest rates to boost the economy is called a monetary stimulus.<\/p>\n<p>At the moment it&#8217;s impossible for Australia to cut interest rates enough to avoid the expected economic downturn because they are at a record low of only 0.25%:<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-38319 size-full\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/cashrate.png\" alt=\"Cash rate graph\" width=\"1048\" height=\"396\" srcset=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/cashrate.png 1048w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/cashrate-300x113.png 300w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/cashrate-1024x387.png 1024w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/cashrate-768x290.png 768w\" sizes=\"(max-width: 1048px) 100vw, 1048px\" \/><\/p>\n<p>It&#8217;s not practical to lower interest rates below zero because paying people to borrow money creates problems.\u00a0\u00a0 If a speedy response is wanted &#8212; which it is &#8212; additional action that goes beyond changing interest rates is required and is called a fiscal stimulus.<\/p>\n<p>The Treasury regards interest rates under 3% as a danger zone where it may not be possible to rapidly respond to economic shocks.\u00a0 Australia has been in this <a href=\"https:\/\/www.youtube.com\/watch?v=siwpn14IE7E\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Kenny Loggins<\/a> zone for 7 years, so we&#8217;re actually lucky we haven&#8217;t needed a fiscal stimulus until now.<\/p>\n<p>The current stimulus is sterilized, which means we&#8217;ll have to pay for it in the future.\u00a0 While this is a concern it doesn&#8217;t justify not having a stimulus, because we&#8217;ll be worse off if we let the economy tank.\u00a0 But it does mean promised future tax cuts are unlikely to occur or will instead be cancelled out by other tax increases and\/or spending cuts.<\/p>\n<p>When the economic outlook is bad and there is no room to adequately lower interest rates, it is possible to have an unsterilized stimulus that doesn&#8217;t have to be paid back.<sup class='endnote'><a href='https:\/\/www.solarquotes.com.au\/blog\/coronavirus-solar-business\/#en-38133-5' id='enref-38133-5' onclick='return hhEndnotes_show(38133)'>5<\/a><\/sup>\u00a0 We&#8217;re not getting one of these because, while our government is fine with us being under prepared for a pandemic<sup class='endnote'><a href='https:\/\/www.solarquotes.com.au\/blog\/coronavirus-solar-business\/#en-38133-6' id='enref-38133-6' onclick='return hhEndnotes_show(38133)'>6<\/a><\/sup> or having less than 30 days supply of petrol, when it comes to fiscal policy they lack all sense of adventure.<\/p>\n<h2>The Aussie Dollar Is Down<\/h2>\n<p>After the stimulus was announced the on the 12th the Australian dollar fell and is now at its lowest point in over 14 years at $0.58 US.\u00a0 It may drop much lower today.\u00a0 Part of this is because Australia&#8217;s inflation rate will be higher than it would be without the stimulus, but it probably also means the money market isn&#8217;t expecting the US to have an effective economic stimulus.\u00a0 It&#8217;s almost as if people don&#8217;t think the <a href=\"https:\/\/www.bradford-delong.com\/2020\/03\/the-trump-administration-has-made-america-1-worst-in-the-world-at-coronavirus-response.html\" target=\"_blank\" rel=\"noopener noreferrer\">US leadership<\/a> knows <a href=\"https:\/\/www.angryflower.com\/1338.html\" target=\"_blank\" rel=\"noopener noreferrer\">what it&#8217;s doing<\/a>.<\/p>\n<p>This doesn&#8217;t mean we&#8217;re going to be living in squalor on the Aussie dollar.\u00a0 A low dollar helps exporters and it&#8217;s likely you&#8217;ve cancelled your overseas holiday anyway.\u00a0 The dollar will probably recover at some point.\u00a0 There is a reason why we have pictures of kangaroos on our coins.\u00a0 It&#8217;s just not possible to know when it will happen.<\/p>\n<h2>Money for Business! &#8212; Including Solar Installers<\/h2>\n<p>In order to help keep businesses in business, the government is providing a $20,000 to $100,000 subsidy to those that pay staff and have an annual turnover of less than $50 million.\u00a0 The subsidy works by letting businesses keep the worker&#8217;s PAYG tax.\u00a0 The maximum amount that can be kept is $50,000 and if it is under $10,000 the government will boost it to $10,000.\u00a0 Then, in October, the government will give businesses an additional amount equal to the amount they have kept.<\/p>\n<p>This will apply to activity statement lodgements for the 3rd and 4th quarter for those that lodge quarterly or March, April, May, and June for those that lodge monthly.\u00a0 But to make it more equal, businesses that lodge monthly will have the amount for March tripled:<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-38264 size-full\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/atolodge.png\" alt=\"Australia PAYG stimulus\" width=\"902\" height=\"256\" srcset=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/atolodge.png 902w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/atolodge-300x85.png 300w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/atolodge-768x218.png 768w\" sizes=\"(max-width: 902px) 100vw, 902px\" \/><\/p>\n<p>If a business has employees but doesn&#8217;t withhold tax, for example if it only has staff who are under the tax free threshold, then the business will receive the minimum payment of $20,000.<\/p>\n<p>Details of how it works, as well as examples, can be found <a href=\"https:\/\/treasury.gov.au\/sites\/default\/files\/2020-03\/Fact_sheet-Cash_flow_assistance_for_businesses_0.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">here<\/a>.<\/p>\n<p>This is a cunning incentive because not only does it give businesses a reason not to sack people, they also have an incentive to give them more hours if they are going to come in below the maximum subsidy of $100,000.<\/p>\n<p>It&#8217;s particularly aimed at small businesses.\u00a0 While I&#8217;m no accountant<sup class='endnote'><a href='https:\/\/www.solarquotes.com.au\/blog\/coronavirus-solar-business\/#en-38133-7' id='enref-38133-7' onclick='return hhEndnotes_show(38133)'>7<\/a><\/sup>, it appears to me that if employees are being paid the median wage or salary<sup class='endnote'><a href='https:\/\/www.solarquotes.com.au\/blog\/coronavirus-solar-business\/#en-38133-8' id='enref-38133-8' onclick='return hhEndnotes_show(38133)'>8<\/a><\/sup> of around $57,000 a year, then the subsidy will top out at perhaps 10 full time employees.<br \/>\n<\/span><\/span><\/p>\n<h2>Reducing Your Super Contributions May Make Your Boss Money<\/h2>\n<p>It appears to me in some situations a small business would receive more stimulus money if employees making voluntary superannuation contributions reduced the amount or stopped entirely.\u00a0 I&#8217;ll leave it up to minds more devious than my own to think of ways this could be exploited, but because reducing voluntary superannuation payments would tend to stimulate the economy, I can&#8217;t decide if this is a bug or a feature of the government&#8217;s plan.<\/p>\n<h2>Government Pays Half Apprentice\/Trainee Wages<\/h2>\n<p>Businesses with apprentices or trainees can receive a subsidy of half their pay for 9 months from the start of this year until the 30th of September, up to a maximum of $21,000 per apprentice\/trainee.<\/p>\n<p>Again, details are <a href=\"https:\/\/treasury.gov.au\/sites\/default\/files\/2020-03\/Fact_sheet-Cash_flow_assistance_for_businesses_0.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">here<\/a>.<\/p>\n<p>This incentive is clearly designed to provide cash to small businesses while encouraging them to keep (mostly) young people employed.<\/p>\n<div id=\"attachment_38294\" style=\"width: 605px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" aria-describedby=\"caption-attachment-38294\" class=\"wp-image-38294 size-full\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/direstraits.jpg\" alt=\"\" width=\"595\" height=\"435\" srcset=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/direstraits.jpg 595w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/direstraits-300x219.jpg 300w\" sizes=\"(max-width: 595px) 100vw, 595px\" \/><p id=\"caption-attachment-38294\" class=\"wp-caption-text\"><i>&#8220;That is working, That&#8217;s the way you do it, Give money to business and trainees half free&#8230;&#8221;<\/i><\/p><\/div>\n<h2>Instant Tax Write-Off For Commercial Solar &#8212; And Other Things<\/h2>\n<p>The government has temporarily improved tax deductions.\u00a0 This is useful for any business that can benefit from installing commercial solar power or any solar installer who wants to buy equipment such as safety gear or a new truck.\u00a0 I&#8217;ve already <a href=\"https:\/\/www.solarquotes.com.au\/blog\/commercial-solar-write-off\/\">written about this<\/a>, so I won&#8217;t go into detail, but here&#8217;s a brief summary:<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-38152 size-full\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/stimulusum.png\" alt=\"Instant Tax Write-Off For Commercial Solar Power\" width=\"1006\" height=\"213\" srcset=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/stimulusum.png 1006w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/stimulusum-300x64.png 300w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/stimulusum-768x163.png 768w\" sizes=\"(max-width: 1006px) 100vw, 1006px\" \/><\/p>\n<h2>Assistance For Severely Affected Regions<\/h2>\n<p>The stimulus will provide $1 billion in assistance for regions severely affected by the coronavirus and bushfires.\u00a0 It&#8217;s not yet clear exactly what this will involve, but it will include a waiver of fees and charges for tourism businesses in the Great Barrier Reef Marine Park and entry fees for Commonwealth National Parks.\u00a0 But most of it &#8212; $715 million &#8212; will go in subsidies to Australia&#8217;s airlines.\u00a0 I&#8217;m sure this is quite a relief to all of us, as I know I&#8217;ve lost a lot of sleep over losses suffered by the global financial conglomerates that mostly own Qantas.<\/p>\n<p>If there is any money left after giving a hand to J.P. Morgan and other major financial investors in our airlines, I hope there will be a little left over to help the hospitality industry.\u00a0 From what I&#8217;ve heard, hours have already been cut to the bone, so there is going to be a lot of pain for people working in that part of the economy.<\/p>\n<h2>Administrative Tax Relief<\/h2>\n<p>The government says the Australian Tax Office will provide some administrative relief for people affected by the coronavirus on a case by case basis.\u00a0 I don&#8217;t know what this means &#8212; they&#8217;re not in a habit of letting people off paying taxes &#8212; but if you are having problems you can contact them and see what they say.<\/p>\n<h2>Loan Money Will Continue To Roll Out<\/h2>\n<p>The stimulus package will use a variety of methods to ensure money lent at low interest rates will continue to be available to households and businesses.\u00a0 If you want details they are available on <a href=\"https:\/\/treasury.gov.au\/coronavirus\/business-investment\" target=\"_blank\" rel=\"noopener noreferrer\">this page<\/a>.<\/p>\n<p>In addition, the government is temporarily making it harder to foreclose on businesses that are in financial difficulty, so if your business is on the ropes, you should have a little breathing space and can hope the stimulus will turn things around.<\/p>\n<h2>Getting Solar Installed Is Not A Coronavirus Risk<\/h2>\n<p>One thing people can do to keep the economy ticking over and people employed is to <a href=\"https:\/\/www.solarquotes.com.au\/solar101.html\">install solar power systems<\/a>, whether residential or commercial.\u00a0 <a href=\"https:\/\/www.solarquotes.com.au\/blog\/solar-power-reasons-mb1455\/\">Getting solar panels now<\/a> will help out the country as a whole and will benefit yourself by putting more money in your pocket in the future through reduced electricity bills &#8212; or by putting them into credit so your electricity retailer gives you money.<\/p>\n<p>One thing you do not have to worry about when getting solar is contracting coronavirus.\u00a0 It a low risk activity to begin with and solar installers have adapted to the crisis by streamlining paperwork and cutting back on the need to enter homes, so now it&#8217;s not necessary to have any face to face contact to get it.\u00a0 I&#8217;d say it&#8217;s safer than having groceries delivered, since you&#8217;re not going to bring those solar panels into your home.\u00a0 And put them in your mouth.<\/p>\n<h2>Economic Response Better than Response To Actual Crisis<\/h2>\n<p>While Australia&#8217;s coronavirus fiscal stimulus is, as a percentage of GDP, the largest ever made by a developed nation in peacetime, we can&#8217;t be certain it will be enough.\u00a0 The economic downturn could always be even worse than expected. The stimulus comes to 9.7% of our $2 trillion GDP.\u00a0 This is a hefty amount, and it is always possible to have a second round of stimulus if necessary.<sup class='endnote'><a href='https:\/\/www.solarquotes.com.au\/blog\/coronavirus-solar-business\/#en-38133-9' id='enref-38133-9' onclick='return hhEndnotes_show(38133)'>9<\/a><\/sup>\u00a0 If the economy does worse than the government expects, then more fiscal stimulus is the only effective tool we have left, as there is so little room to lower interest rates before they hit zero.<\/p>\n<p>As this is the developed world&#8217;s largest stimulus, we&#8217;re not making the mistake of having one that&#8217;s clearly inadequate.\u00a0 During the Global Financial Crisis in 2007-2008 Australia was the only developed country that had a stimulus equal to the size of the expected economic downturn and, as a direct result, Australia was the only developed country to avoid recession.\u00a0 I think this has taught the Coalition the importance of a timely and proportional response.<\/p>\n<p>Unfortunately, and quite likely fatally, so far they haven&#8217;t applied the same lesson to the coronavirus itself.\u00a0 When I compare our response to the actions of a nation like Taiwan &#8212; which has a population almost as large as ours and a lot more contact with China &#8212; it really makes it clear Australia has screwed up, as they have less than one eighth the total case numbers we do.<\/p>\n<h2>Actions So Far Have Been Insufficient<\/h2>\n<p>At first I wasn&#8217;t too worried about the coronavirus taking off here because it&#8217;s just a virus.\u00a0 When I say that I don&#8217;t mean it doesn&#8217;t have the potential to kill hundreds of thousands of Australians, I mean we know how to deal with them.\u00a0 It&#8217;s not as if the coronavirus is going to magically start tunneling through walls or pick up guns and start shooting people.\u00a0 It can only spread the way viruses normally do.<\/p>\n<p>If we clamped down hard as soon as there was evidence it was spreading, then the vast majority of us would be safe.\u00a0 Unfortunately, the government decided to err on the side of danger and appeared to hope it would somehow be far less infectious here.\u00a0 Maybe they thought we&#8217;d be protected by our warmer climate, or the fact we&#8217;re not as kissy-kissy as the Italians, or they believed in the mystical protection granted to us by the power of Vegemite.\u00a0 Perhaps we are safe and it&#8217;s a lot less infectious in Australia than medical experts expect it to be, but that&#8217;s one hell of a gamble.<sup class='endnote'><a href='https:\/\/www.solarquotes.com.au\/blog\/coronavirus-solar-business\/#en-38133-10' id='enref-38133-10' onclick='return hhEndnotes_show(38133)'>10<\/a><\/sup><\/p>\n<p>This might sound very stupid, but I seriously expected more from the government that failed to take extra precautions when warned we were heading into a disastrous bushfire season and that has been happy for years with our national supply of petrol and diesel being under 30 days.<sup class='endnote'><a href='https:\/\/www.solarquotes.com.au\/blog\/coronavirus-solar-business\/#en-38133-11' id='enref-38133-11' onclick='return hhEndnotes_show(38133)'>11<\/a><\/sup>\u00a0 I&#8217;m hoping the massive stimulus means the government is about to get serious, but to limit spread of the virus and protect people at high risk, such as my parents, I recommend we all take action on our own initiative to help keep people we care about &#8212; and don&#8217;t care about &#8212; safe.<\/p>\n<h2>Staying Safe From Coronavirus<\/h2>\n<p>While the Government&#8217;s coronavirus stimulus is a good idea, the best thing we can do to protect the economy is limit the spread of the virus.\u00a0 This is because an economic benefit only occurs if, overall, people get more of what they want and normal human beings do not want their loved ones to suffer and die.\u00a0 Just because it&#8217;s not easy to put a dollar amount on this kind of loss doesn&#8217;t mean it isn&#8217;t real.\u00a0 Losing a loved one may take time to sink in, but when it does, it&#8217;s the realest thing there is.<\/p>\n<p>Please take care of yourself, limit social contact, keep your distance from strangers, and wash your hands after any activity that could possibly expose you to the virus.\u00a0 Anything that gets your hands clean helps, but ordinary soap is best.\u00a0 Washing your hands for 20 or 30 seconds is good, but washing them with soap for just 5 seconds is infinity times better than not washing them at all.<\/p>\n<p>I have to admit I&#8217;m behind the curve myself.\u00a0 I only just realized I can paywave and not touch filthy coins and notes.\u00a0 To help out I&#8217;ve ordered a coin washing machine from the United States and because our notes are plastic, it should be able to handle them too.\u00a0 It will take over 72 hours to get here, so if it was contaminated with coronavirus it should be safe by the time it arrives.\u00a0 Please feel free to send me all your filthy money and I will carefully launder it so it can be used it to stimulate the economy safely.\u00a0 And because immediate action is required, I promise I won&#8217;t waste any time sending it back to you before using it to boost the economy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On March 12th, in response to the economic slowdown caused by the coronavirus and bushfires, the Australian Government announced a $17.6 billion economic stimulus.\u00a0 Then, at some point in the last week, they must have spoken to someone in the Treasury who actually knows what&#8217;s going on, because they then increased it by an order [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":38379,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[54],"tags":[],"class_list":["post-38133","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar-policy","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How The Financial Stimulus Can Help Your Solar Business<\/title>\n<meta name=\"description\" content=\"If you own a solar business, the government has announced a surprisingly generous support package for small\/medium businesses. 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Experts from across the renewables sector will\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Stimulus Summit - Renewable Energy","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/05\/stimulus-summit-renewables.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/05\/stimulus-summit-renewables.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/05\/stimulus-summit-renewables.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/05\/stimulus-summit-renewables.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/05\/stimulus-summit-renewables.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":38135,"url":"https:\/\/www.solarquotes.com.au\/blog\/commercial-solar-write-off\/","url_meta":{"origin":38133,"position":2},"title":"Most Commercial Solar Can Now Get Instant Asset Write-Off Until June 30","author":"Ronald Brakels","date":"March 17, 2020","format":false,"excerpt":"Due to the economic hit from the coronavirus COVID-19 and bushfire disasters, the Federal Government has announced a $17.6 billion economic stimulus.\u00a0 It includes tax deduction incentives that make commercial solar power -- and other investments -- even more attractive.\u00a0 Provided it's for business, the incentives will improve tax deductions\u2026","rel":"","context":"In &quot;Commercial Solar&quot;","block_context":{"text":"Commercial Solar","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/commercial-solar\/"},"img":{"alt_text":"Commercial solar instant asset writeoff","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/commercial-stimulus.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/commercial-stimulus.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/commercial-stimulus.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/commercial-stimulus.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/03\/commercial-stimulus.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":43275,"url":"https:\/\/www.solarquotes.com.au\/blog\/arena-funding-reactions-mb1688\/","url_meta":{"origin":38133,"position":3},"title":"ARENA&#8217;s New Funding: Reactions","author":"Michael Bloch","date":"September 18, 2020","format":false,"excerpt":"The Morrison Government yesterday announced new long term funding for the Australian Renewable Energy Agency - and an expanded focus that includes dabbling in fossil fuels. The Agency was established under a Labor Government back in 2011 with support from the Liberal-National Opposition. Its stated purpose is to: \"improve the\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"ARENA funding","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/09\/arena-funding.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/09\/arena-funding.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/09\/arena-funding.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/09\/arena-funding.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/09\/arena-funding.png?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":44955,"url":"https:\/\/www.solarquotes.com.au\/blog\/australia-climate-renewables-mb1768\/","url_meta":{"origin":38133,"position":4},"title":"Australia A G20 Laggard On Climate And Renewable Energy Policy","author":"Michael Bloch","date":"November 19, 2020","format":false,"excerpt":"18 G20 countries have implemented or are implementing carbon-pricing schemes and 16 have policies to increase renewable energy generation\u00a0 - Australia isn't among either groups. The latest Climate Transparency Report was released last night, and is claimed to be the most comprehensive annual review of G20 countries\u2019 climate action and\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Climate Transparency Report 2020","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/11\/g20-climate-renewables.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/11\/g20-climate-renewables.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/11\/g20-climate-renewables.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/11\/g20-climate-renewables.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/11\/g20-climate-renewables.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":38549,"url":"https:\/\/www.solarquotes.com.au\/blog\/aer-energy-expectations-mb1464\/","url_meta":{"origin":38133,"position":5},"title":"Energy Businesses Directed To Protect Households And Small Business","author":"Michael Bloch","date":"March 30, 2020","format":false,"excerpt":"On Friday, the Australian Energy Regulator (AER) outlined its expectations for energy retailers and networks during the COVID-19 pandemic, stating they must \"go above and beyond\" to support customers. The AER regulates electricity networks and covered gas pipelines in all jurisdictions across Australia except in WA. 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