Coronavirus Special Update – March 2020  Government’s Stimulus Package in response to the Coronavirus The following is a broad summary of the key aspects of the Federal Government’s stimulus package in response to the Coronavirus, as recently announced and enacted.  This information has been provided to us by the NTAA (National Tax & Accountants’ Association) Income support for individuals Various measures have been introduced so as to provide a ‘safety net’ for individuals who are financially impacted by the Coronavirus. The new Coronavirus supplement A new six-month ‘Coronavirus supplement’ of $550 per fortnight will be paid to individuals who are currently eligible for certain income support payments, including the: n       Jobseeker Payment; n       Youth Allowance; and n       Parenting Payment (Partnered and Single). Furthermore, it appears that this new (additional) supplement will be paid to eligible individuals as part of their existing income support payments (e.g., Jobseeker Payment and Youth Allowance). Expanding access (and eligibility) to certain income support payments For the period that the Coronavirus supplement is paid, the Government will also expand access to certain income support payments (e.g., the Jobseeker Payment, the Youth Allowance Jobseeker and the Parenting Payment) for eligible individuals. For example, a new category of Jobseeker … Continue reading Coronavirus Stimulus Package