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Tax Updates

Coronavirus stimulus package

A little more information on the governments coronavirus stimulus package.

If you are receiving a payment from Centrelink there will be a one off payment of $750 to boost the currant down turn in the economy, this payment will not be deducted to recoup any outstanding Centrelink debts, as they have been doing with tax refunds for the past few years.

Centrelink have also put it in place measures for anyone that needs to self isolate or go into quarantine to not have to meet job requirements and they can apply for a 14 day exception. Anyone that is diagnosed and needs to take longer time off work can apply for sickness allowance which will be granted straight away.

This may be particularly useful for those in the arts who have had gigs/performances cancelled due to the new laws around social events and gatherings of more than 500 people.

Attached is some more information as to who is eligible and what steps to take if you are affected by quarantining.

https://treasury.gov.au/sites/default/files/2020-03/Fact_sheet-Assistance_for_households.pdf