$1500 for people as jobs put on hold because of coronavirus.
It comes as millions receive $750 this week.
By Digital Staff
March 29 2020
Prime Minister Scott Morrison has asked businesses to hold fire on any further shutdowns or job cuts ahead of a third stimulus package to be announced in the next few days.
The package will include a $1500 a fortnight “job keeper” allowance for those whose employers go into “hibernation” for the next six months, as first reported on Seven News.
The government has so far announced two stimulus packages worth more than $80 billion aimed at trying to shield business and workers from the impact of coronavirus.
“The next stage ... will be even bigger than anything you have so far seen,” Mr Morrison said on Sunday.
“It is part of the hibernation strategy of ensuring that we keep people connected with their businesses and with their jobs, so on the other side of this Australia can bounce back stronger.”
The federal government will give 6.5 million lower-income Australians a one-off payment of $750 starting from Tuesday in the wake of the coronavirus pandemic.
All social security, veteran and other income support recipients and eligible concession card holders will receive the cash handout.
That includes people with commonwealth seniors health cards, those receiving family tax benefits, as well as Jobseeker (Newstart) and Youth Allowance recipients.
The money will be transferred directly into the banks accounts of anyone who has been on those eligible payments since March 12.
Around half the recipients will be pensioners.
The payments will begin to be distributed from Tuesday.
A second $750 payment will be made to pensioners and welfare recipients in July.
The cash injections are part of a $17.6 billion stimulus package announced by Prime Minister Scott Morrison will cost the budget $4.76 billion.
The government will also be a guarantor on unsecured small business loans and is easing regulations and red tape for companies and setting up a “regulatory shield” around liquidations and bankruptcies.
The federal government is desperately trying to fend off a recession that appears inevitable as COVID-19 continues to wreak havoc on the economy.
A recession is consecutive quarters of negative gross domestic product (GDP) growth and Australia hasn’t had one in 27 years.
Morrison has approved the $750 payments because he wants Australians to keep spending.
The government’s total stimulus, including the Reserve bank’s injection of cash for banks to provide low-interest business loans, reaches $189 billion - just shy of 10 per cent of GDP.
A coronavirus supplement of $550 a fortnight will be added to the Jobseeker payment - known as Newstart until 10 days ago - and access to the dole will be relaxed and waiting period waived to allow casuals and sole traders whose income drops off.
People will also be allowed to access up to $20,000 of their superannuation savings, in two payments, if they declare to the tax office their work hours or income has fallen by 20 per cent because of the virus.
Small and medium businesses
Small and medium businesses and not-for-profits that employ people will now receive a full rebate on income tax withholdings, up to $100,000.
They’ll all get a minimum of $20,000 - 10 times the amount announced previously.
This is expected to help some 690,000 businesses employing about 7.8 million people, along with 30,000 not-for-profits who weren’t previously set to receive the cash flow injection.
How to claim
- Sign in to myGov and go to Centrelink.
- Select Payments and Claims from the menu, then Claims, then Make a claim.
- Select Get started from the category that best describes your circumstances.
- Answer all the questions. Each screen has information to help you complete the claim.
- Submit your claim
Originally published on 7News.