Economic Stimulus Measures

Economic Stimulus Measures

  • Federal Government's Stimulus Package

    Posted by · April 21, 2020 7:33 PM

    The Australian Government has announced a range of stimulus measures to address the economic effects of the COVID-19, has the latest updates of support available. The package is a measure that we hope will help constituents and businesses in Warringah get through this difficult time. Of particular note, small businesses, tradespeople and social welfare recipients (including pensioners) will benefit. 

    For more information visit the Australian Taxation Office website HERE and the Treasury's response to COVID-19 HERE. A summary of the current key programs is provided below.

    JobKeeper: On 21 July, the Federal Government announced an extension and tapering of the JobKeeper payment. The extension means that from 28 September the rate for JobKeeper will change per the following table and the rate of wage subsidy will now vary depending on the number of hours worked:


    Dec Quarter

    Mar Quarter

    Full time



    Less than 20hrs of work



    For more information click HERE 

    On 20 July the Government also announced an extension and expansion of the support to the flow of credit scheme which provides 50% government guarantee of loans to small and medium enterprises, find out more HERE

    The Jobtrainer program will extend the Government's subsidies of wages for apprentices and trainees through to March 2021, find out more HERE

    The Homebuilder program seeks to stimulate the construction sector, albeit for a narrow sector of the electorate, find out more HERE

    On 21 July, the Government announced a number of changes to the Jobseeker payment and Youth Allowance, reducing the Coronavirus supplement from $550/fortnight to $250/fortnight. This supplement is paid on top of your base rate for the Jobseeker or Youth Allowance payment. The Government have also increased the amount you can earn before it impacts your payment from $106/fortnight to $300/fortnight. These changes will apply through to the end of December 2020.

    You may also be eligible for Rent Assistance. 

    For more information go to Services Australia HERE

    Getting early access to your superannuation

    You can gain early access up to $10,000 of your superannuation in 2019-20 and a further $10,000 in 2020-21. Find out more HERE

    NSW Government Economic Response

    NSW Government has announced its recovery plan for the State, key elements of the plan are:

    For more detail click HERE

    NSW Government support for Business and Individuals

    NSW Government has announced a number of measures for individuals and businesses, for further information please see HERE

    For more detail on Stimulus Packages for Warringah residents click HERE

    Local Council Responses

    Northern Beaches Council response to COVID-19

    1. Business support plan HERE
    2. Community Support package is HERE
    3. For more Information on what the Northern Beaches Council is doing click HERE

    North Sydney Council COVID-19 response click HERE

    Mosman Council COVID-19 response click HERE


    Financial help from your Bank

    Australian banks have hardship teams ready to help you, depending on your circumstances.
    Assistance could include:

    • deferring loan payments,
    • waiving fees and charges,
    • helping with debt consolidation,
    • waiving penalties for early withdrawal of a term deposit or
    • deferring upcoming credit card payments and increasing emergency limits

    The Australian Banking Association has more information HERE