https://www.youtube.com/watch?v=5MmNcIIax-k&t=121sThe JobKeeper Payment will be extended by six months to 28 March 2021 and the temporary Coronavirus Supplement for those on income support will be extended until 31 December 2020.The JobKeeper Payment has been instrumental in supporting job retention, maintaining employment links and business cash flow, as well as providing...
Category: Government Stimulus
NSW Announces $10,000 to Small Businesses Hit by COVID-19
AimTo support thousands of small businesses across NSW to cope with Covid-19 shutdown.The NSW Government will put $750 million into the Small Business Support Fund as the centrepiece of a third wave of support measures to keep small businesses afloat.BenefitEligible small businesses across NSW will receive grants of up to...
JobKeeper Stimulus – $1,500 per employee per fortnight
The biggest in Australia’s History Aim The government has announced $130 billion to fund a new JobKeeper payment with the aim to keep employees employed. Benefit Businesses will receive a fortnightly wage subsidy of up to $1,500 per employee as part of a Federal Government bid to prevent millions of...
Coronavirus Supplement – $550 each fortnight for eligible individuals
Aim Supporting vulnerable individuals through additional income assistance by the Government. Benefit A new time-limited or temporary “Coronavirus Supplement” of $550 per fortnight for six months from 27 April 2020. Eligibility Individuals under the following income support payment categories are eligible for the Coronavirus Supplement: Jobseeker Payment (and all payments progressively...
Providing Support for Retirees – Reduction in Super Minimum Drawdown & Social Security Deeming Rates
Aim Providing retirees with more flexibility as to how they manage their superannuation assets. Benefit Allowing retirees to drawdown less from their superannuation by 50% for the 2019-2020 and 2020-2021 financial years. There is also a reduction to the upper and lower social security deeming rates by a further 0.25%...