What you need to know

Business investment

Cash flow assistance for small and medium sized businesses

Targeted support for severely affected sectors, regions and communities

Household stimulus packages to drive cash into the economy

Household stimulus payments to drive cash into the economy

Tax-free $750 payment to social welfare recipients

A one-off, $750 cash payment will be made to pensioners, social security, veteran and other income support recipients and eligible concession card holders. Payments will be from 31 March 2020 on a progressive basis, 90% are expected to be made by mid-April.

The payment will be tax-free and will not count as income for Social Security, Farm Household Allowance and Veteran payments.

There will be one payment per eligible recipient even if they qualify in multiple ways.

Casual employees able to access the Newstart 'sickness payment'

While not part of the stimulus package, the Prime Minister has stated that casual employees required to self-isolate or who contract the coronavirus will be eligible for a sickness payment (jobseeker payment) through Newstart. The normal waiting period for this payment will be waived.

We'll bring you more details as soon as they become available.

More information

• Media release - Economic Stimulus Package
• Press conference transcript
• Economic Response to the Coronavirus
• ATO Support measures to assist those affected by COVID-19
• 
  

If you have any questions, please contact a member of the Goodwin Chivas & Co. team.