COVID-19
STAGE 2 STIMULUS
PACKAGE
The Federal Government has announced stage 2 of its economic plan to cushion the economic impact of coronavirus (COVID-19). We have pulled together information relating to the individual and business stimulus packages now available. This builds on the stage 1 stimulus measures and also introduces many new initiatives to help the economy deal with the impact of the coronavirus.
To view stage 2 of the economic plan, click here. Head to our JobKeeper payment page to find out whether your business is also eligible to claim assistance with the cost of employee wages. Contact The Kalculators at any time if you have questions.
CORONAVIRUS SUPPORT SUMMARY FOR
INDIVIDUALS AND BUSINESSES
The Australian Government is providing financial assistance to Australians to support them through the Coronavirus. This assistance includes income support payments, payments to support households and temporarily allowing early release of superannuation. Check your entitlements below.
For Individuals
Stimulus Package: Individuals, Employees & Sole Traders
- Jobkeeper Payment up to $1500 a fortnight (Permanent resident or citizen) from 01 May 2020 (payments will be backdated from March 2020)
- Jobkeeper Payment upto $1100 a fortnight (Permanent resident or citizen) From 27 April 2020 (Income support and a Coronavirus supplement)
- Support for Individuals and Household (Permanent resident or citizens):From 31 March 2020 first round of $750 payments to support households
- Early Release of Super From mid-April 2020(Permanent resident, citizen, non-resident may be eligible)
Businesses & Sole Traders
As a business, you may receive one or more than one of the following payments based on your eligibility.
- Jobkeeper Payment for Businesses: from 1 May 2020 (payment backdated to March 2020)
- Tax-free cash flow boosts of between $20,000 and $100,000 from 28 April 2020
- Vary PAYG Tax Instalments from 01 April 2020 or when you lodge next BAS
- Instant Asset Write-off up to $150000 from 12 Mar 2020
How the stimulus
packages are helping
Adelaide businesses
- Small business cash payments up to $100,000
- Guaranteed loans for small businesses
- 50% of small business apprentice wages paid until 30 September
- Plus, increased insolvency and bankruptcy thresholds
- And, the ability to access up to $10,000 of super in 2019-20 and a further $10,000 in 2020-21
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