On 12 March 2020, the government announced a $17.6 Billion stimulus package to assist the economy to withstand and recover from the economic impact of the coronavirus (COVID-19). The Government has also announced a second $66 Billion package on 22 March 2020, and these changes have been incorporated below
The measures contained in the stimulus package are outlined below. These measures have not yet been legislated.
It is highly likely that this stimulus will be increased as the coronavirus further impacts the economy and many commentators are suggesting that it will eventually match the $50 Billion stimulus that the Labour government spent to withstand the impact of the Global Financial Crisis.
If you’re not already getting a payment and need to claim. If you receive one of the eligible payments and Centrelink approve your claim, you’ll also get the supplement. You can claim online through myGov using a Centrelink online account, or phone Centrelink.
We will be publishing the new measures on our website as they are announced, so please check back on viden.com.au.
For immediate advice please call any member of your Client Service Team on 1800 773 643.