Dear Good Tax Accountants (GTA) customers,

 

Thank you for your ongoing support.

Government announced Second Stimulus Package on 22rd March 2020 to support the economy, business and employment in the face of the coronavirus health crisis in addition to the Corona Stimulus package.

The measures include the below.

 

  • Cash Flow Boost for employers

Employers with annual turnover of under $50 million (based on prior year turnover) will receive from $20,000 to $100,000. Eligible businesses will receive a payment equal to 50 % of PAYG tax withheld from employees’ wages up to $50,000.

Eligible businesses that pay wages will receive a minimum of $10,000, even if they are not required to withhold tax.

The payment will be delivered as a credit from 28 April 2020 upon FY 2020 Q3 BAS Lodgment. ATO will deliver the refund within 14 days for any refunded amount.

 

 

  • Direct payment of $750 to individuals with

Eligible individuals will receive a $750 extra payment including first one-off payment. Eligible individuals are as below:

 

1st Payment

  • Age Pension
  • Newstart
  • Disability Support Pension
  • Carers’ Allowance
  • Youth Allowance
  • Veterans’ Affairs payments
  • Family Tax Benefit
  • Individuals holding a Pensioner Concession Card or Commonwealth Senior Health Card.

2nd Payment

  • Jobseeker Payment
  • Youth Allowance Jobseeker
  • Pareting Payment (Partnered and Single)
  • Farm Household Allowance
  • Special Benefit

 

Should you have any inquiry in regard to above matter, please do not hesitate to contact us.

 

Thank you.