$750 One Time Payment for Individuals
From the Federal Government. Stimulus Payments (subject to the passage of legislation).
What’s the $750 Payment All About?
The Federal Government will provide a one-off $750 payment to around 6.5 million social security, veteran and other income support recipients and eligible concession card holders. Around half of those that benefit are pensioners. This payment will help to support confidence and domestic demand in the economy.
There will be one payment per eligible recipient. That is, if a person qualifies for the one-off payment in multiple ways, they will only receive one payment.
The payment will be exempt from taxation and will not count as income for Social Security, Farm Household Allowance and Veteran payments.
This measure will assist around 6.5 million lower income Australians, including pensioners, other social security and veteran income support recipients and eligible concession card holders. Assistance for these households will support confidence and domestic demand in the economy.
Who Will Receive the Payment?
To be eligible, you must be residing in Australia and be receiving one of the following payments or hold one of the following concession cards on 12 March 2020:
- Age Pension
- Disability Support Pension
- Carer Payment
- Parenting Payment
- Wife Pension
- Widow B Pension
- ABSTUDY (Living Allowance)
- Austudy
- Bereavement Allowance
- Newstart Allowance
- Youth Allowance
- Partner Allowance
- Sickness Allowance
- Special Benefit
- Widow Allowance
- Family Tax Benefit, including Double Orphan Pension
- Carer Allowance
- Pensioner Concession Card holders
- Commonwealth Seniors Health Card holders
- Veteran Service Pension; Veteran Income Support Supplement; Veteran Compensation payments, including lump sum payments; War Widow(er) Pension; and Veteran Payment.
- Veteran Gold Card holders
- Farm Household Allowance
Where someone has lodged a claim for one of the eligible payments or concession cards by 12 March 2020, and the claim is subsequently granted, they will also receive the one-off payment.
If you are a holder of a Veteran Gold Card, you will be contacted to confirm your account details, so the one-off payment can be made as soon as possible. Please be vigilant against any scam callers during this time.
When Do I See the Money?
The one-off payment will be paid automatically from 31 March 2020 by Services Australia or the Department of Veterans’ Affairs. Over 90 per cent of payments will be made by mid-April 2020.
Individual States Offering Support
A lot of State Governments are joining in assisting businesses through these uncertain times. Again a lot of the focus is on maintaining employment with state employment taxes (payroll tax) measures being introduced.
Queensland
The QLD government announced a fund to help businesses with both keeping staff employed and operational expenses. The main piece of the announcement was 12 month interest free loans of up to $250,000: At time of writing, the fund is open for expression of interest, but there’s not available detail on eligibility.
Email [email protected] or call 1800 623 946 for more information and register your interest.
There’s also mentoring sessions and financial workshops for small businesses, payroll tax relief (deferral to Jul2020) and industry specific support for commercial fishers, tourism operators and liquor licence holders.
New South Wales
NSW package is aimed more at larger businesses and those in severely affected areas of tourism and entertainment.
- $450 million for the waiver of payroll tax for businesses with payrolls of up to $10 million for three months (the rest of 2019-20). This means these businesses will save a quarter of their annual payroll tax bill in 2019-20
- $56 million to bring forward the next round of payroll tax cuts by raising the threshold limit to $1 million in 2020-21
- $80 million to waive a range of fees and charges for small businesses including bars, cafes, restaurants and tradies
- $250 million to employ additional cleaners of public infrastructure such as transport assets, schools and other public buildings
- more than $250 million to bring forward maintenance on public assets including social housing and crown land fencing
- $500 million to bring forward capital works and maintenance.
Western Australia
WA has also looked at how they can help households, freezing many fees and charges that were due to be increased. Note: households will still need to pay these fees, only they will be less than previously announced.
Business measures include:
- $114 million in additional measures to support small businesses
- Small businesses that pay payroll tax will receive a one-off grant of $17,500
- $1 million payroll tax threshold brought forward by six months to July 1, 2020
- Businesses impacted by COVID-19 can defer payroll tax payments until July 21, 2020
**We have made every effort to ensure this information is accurate and correct at the time of publishing**
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