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Government increases support for households and businesses

The Australian Government announced proposals to deliver more support for households and businesses through the COVID-19 pandemic.

On 21 July 2020, the Australian Government announced proposals to deliver more support for households and businesses to help Australian’s through the COVID-19 pandemic and bolster our economic recovery, including:

  • A six-month extension to the JobKeeper Payment that ends in March 2021, originally scheduled to end in September 2020. Additional ongoing turnover tests and a phased step down in payment rate are to be implemented,
  • Extending the payment of the Coronavirus supplement to 31 December 2020 (albeit at a reduced rate of $250 pf),
  • Increasing the income free area for the income test and adjusting the income test taper rate,
  • Amending the partner income test,
  • Reintroducing mutual job obligations, and
  • Reintroducing asset tests and the liquid asset waiting period.

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