Prime Minister Scott Morrison today announced $130 billion of spending over the next six months to support the livelihoods of Australians who lose their jobs and income as a result of COVID-19.
The government anticipates as many as six million Australians could be left without income as a result of COVID-19.
During a press conference today, Morrison announced a $1500 a fortnight "job keeper" payment designed to allow employers to keep employees on through the crisis.
Companies will be paid the wage subsidy in what is an effort to keep employees linked to their employers.
Payments will begin on 1 May 2020 and be back paid until today.
$1.1b to Support More Mental Health, Medicare and Domestic Violence Services
Yesterday, the Prime Minister announced more help will be given to millions of Australians battling the devastating impacts of coronavirus with a $1.1 billion package which boosts mental health services, domestic violence support, Medicare assistance for people at home and emergency food relief.
COVID-19 Scams
Unfortunately, scammers are taking advantage of the spread of coronavirus to exploit and play on the fears of consumers across Australia.
Scammers are doing things such as falsely selling coronavirus-related products online, and using fake emails or text messages to try and obtain personal data.
The attached newsletter goes into more detail about the recent announcements as well as what to watch out for in relation the COVID-19 scams. If you would like to discuss any of the above further, we encourage you to contact your Byfields accountant.
Click below to download the full newsletter
Extraordinary "JobKeeper" Wage Subsidy Stimulus