Supporting Individuals and Households under Government
Supporting Individuals and Households under Government. The Government is providing financial assistance to Australians to support them through the economic impact of the Coronavirus.
Supporting Individuals and Households, the JobKeeper Payment will continue until 28 March 2021 and is targeted support to those businesses and not-for-profits who continue to be significantly impacted by the Coronavirus.
The Government has also extended the payment period and adjusted the amount of its temporary Coronavirus Supplement for eligible income support recipients from 25 September 2020 to 31 December 2020 as part of its supporting Individuals and Households.
The Government is temporarily allowing individuals affected by the Coronavirus to access some of their superannuation, extending access to 31 December 2020.
Eligible pensioners, seniors, carers and concession card holders have received two separate $750 Economic Support Payments. The Government will provide two additional Economic Support Payments of $250 each.
Retirees whose savings are being affected by financial market volatility can take advantage of a temporary reduction in minimum superannuation drawdown requirements.
Social security deeming rates have also been reduced in recognition of the impact of low interest rates on retiree savings.
Hunter Partners are Accountants, Tax Agents and Financial Planners. We can assist you with all aspect of your accounting, tax and financial planning requirements, call Hunter Partners on (07) 4723-1223.
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