The federal government has announced a stimulus package to help families, small businesses and the most vulnerable in our community get through the economic impact of the Coronavirus.
The World Health Organisation officially designated the COVID-19 a global Pandemic which means we all need to be as prepared as we can for the ongoing impact of this virus. The Australian federal government has not only put together a stimulus package that supports the health services that will be used to combat this virus but also support people that will need to take the time to recover.
Read on to see how the governments’ stimulus package may help you.
What are you entitled to under the governments stimulus package
The federal government has announced a $17.6 billion stimulus package to help support Australians and the Australian economy whilst we deal with the impact of Coronavirus. Most of the measures announced were to help support small businesses but there are some measures that will help families.
Part of the package will be one off cash payment of $750 to 6.5 million Australians from 31st March. The groups eligible for this payment include those who receive one of the below payments:
- Family Tax Benefit
- Parenting Payment
- Age Pension
- Carer payment or allowance
- Sickness allowance
- Farm household payment
- Bereavement allowance
- Newstart allowance
With many more, find out if you are eligible here.
The government hopes that this payment encourages families to spend the cash payment at their local stores to help small businesses also get through the crisis. The remainder of the stimulus money is being used to help subsidise small businesses to help them keep people employed.
It’s also meant to help support casual employees who may need to take time out due to illness and will also be subsidising pay for apprentices to make sure they remain employed if a business starts to see a downturn.
The government will waive any wait times that usually apply to any government assistance to allow for this payment to be made when needed however you will be required to submit to an assets test.
The Guardian has a great article that answers all your questions about the stimulus package, read it here. You can also check out the governments treasury website about the stimulus package for more information.
Make sure to keep yourself informed of the facts about this virus, listen to authorities, build your immunity through a healthy diet and please stay calm.
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