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Economic Stimulus Package – Payments to love income households and pensioners

Economic Stimulus Package – Payments to love income households and pensioners

As part of the Government’s series of measures to support the economy and individuals through the Coronovirus crisis, Newstart recipients, age pensioners and veterans are being provided with a one-off payment of $750.

These payments started flowing into the bank accounts of 6.5 million (mainly) lower-income Australians from March 31.

While most working Australians won’t receive this payment, this type of tightly targeted payment will provide maximum bang for buck in terms of stimulating the economy.

Pensioners have also received additional support. On top of the $750 payment announced on March 12, an additional $750 will be paid to any eligible recipients, as at 10 July 2020, receiving the Age Pension, Veterans Pension or eligible concession card holders.

If you have any questions about your entitlements to government payments, please don’t hesitate to call.

Information in this article has been sourced from https://treasury.gov.au/coronavirus/households

As always, if you would like to discuss the contents of this newsletter please give us a call 07 5559 5760.

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