The Government’s stimulus package in response to the Coronavirus

In response to the economic impact of the Coronavirus, the Government has announced a number of initiatives to help individuals and businesses at this uncertain time.

One of these announcements is the the JobKeeper Payment. The payment is a wage subsidy paid by the Government to businesses significantly impacted by the Coronavirus.

This will allow some employers to continue paying their employees whether they are able to work or not. The Government will provide $1,500 per fortnight (pf) per employee for up to six months to eligible businesses. The business must pass on the payment to eligible employees.

Below is an infographic to help explain this:

For a detailed summary of the Federal Government changes include accessing some of your super if you’re in financial stress, job keeper payment, tax concessions for small businesses and changes to social security benefits you can find out more below.

Stimulus package fact sheet