none

GOVERNMENT SET TO EXTEND COVID STIMULUS

21-07-2020
by 
in 

The JobKeeper and JobSeeker stimulus packages designed to cushion the economic blow of the coronavirus will be extended beyond their original end date of September, but not without significant changes.

Prime Minister Scott Morrison will announce the changes, which for JobKeeper will include a lower rate of payment and stricter requirements for eligibility, in a press conference on Tuesday.

The JobKeeper scheme will now run until March, and will feature two tiers of payments to more accurately reflect an employee’s hours.

Businesses will have to prove ongoing financial hardship via more frequent reporting of drops in turnover.

“When businesses initially qualified in April, once they qualified they were in for the full six months,” says Finance Minister Mathias Cormann.

“What we are proposing to do now is that in early October and in early January, businesses will have to be reassessed in terms of whether they still qualify, given what is happening to their turnover.”

More than 3.5 million Australian workers currently receive the JobKeeper payments, which have topped $20 billion to date.

The JobSeeker unemployment package received by more than 1.6 million Australians will also be revised; it too will be extended to March but at a lower rate of payment.

The moves come as Australia’s coronavirus death toll continues to rise. A Victorian woman in her 80s died at the weekend, bringing the total number of deceased to 123.

Victoria’s COVID-19 resurgence has also continued, with 275 new cases recorded on 20 July. In response, the Victorian Government has made the wearing of masks compulsory for those out in public in Melbourne and the Mitchell Shire. Those flouting the new rule are up for a $200 fine.

Related news & editorials

  1. Increase the capture of tyres for value recovery and invest to build domestic recycling capacity.
    25.01.2021
    25.01.2021
    by      In , In
    A new roadmap released by Australia’s national science agency has developed key strategies for creating jobs and reclaiming billions in economic value from plastic, glass, paper and tyres currently going into landfill.
    The CSIRO’s National Circular Economy Roadmap found innovation is crucial to... Read More
  2. “WMRR looks forward to working closely with the NSW government as it rolls out Remanufacture NSW"
    25.01.2021
    25.01.2021
    by      In
    The Waste Management and Resource Recovery Association of Australia has welcomed the announcement of a new $35 million grant round in NSW, which will be offered through the newly created Remanufacture NSW.
    NSW has rounded off a week of multi-million-dollar funding announcements for essential waste... Read More
  3. An upgrade to existing mining digger buckets was required and thanks to their ongoing association with Jaws, were able to work directly with their engineering team the installation.
    25.01.2021
    25.01.2021
    by      In , In , In
    With a long-standing history, Jacks Hydraulic Services (JHS) and Bonfiglioli recently embarked on another successful installation for a customer in the heavy-duty industry.
    Founded in 1998, JHS is a premier distributor of Parker Hannifin in Australia and incorporates other exclusive bands such as... Read More
  4. Construction is underway for the Riverina Intermodal Freight and Logistics hub which will enable the exporting of freight across Australia and abroad.
    21.01.2021
    21.01.2021
    by      In , In
    Construction is underway for the Riverina Intermodal Freight and Logistics hub which will enable the exporting of freight across Australia and abroad.
    Deputy Premier John Barilaro said the development of the 60-hectare Bomen Industrial Precinct near Wagga Wagga is fantastic news for the Riverina... Read More