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Writer's picturePriscilla Plancke

Summary of The Australian Government's economic response to coronavirus

Updated: Nov 8, 2022


First of all we would like to acknowledge that these are scary times indeed when the number one way to react, is to stop trying. But at Tradies Bookkeeping .Com we take a different path! While the full economic effects from the virus remain uncertain, the outlook has deteriorated since the Government’s initial Economic Response was announced on 12 March 2020. We are keeping informed in view to ensure you are getting the benefits you are entitled to.

We are people that prefer to progress rather than pause:

- we will not stop being committed to being our best;

- we use this downtime to our advantage, knowing that this is the time to strengthen relationships, build new skills, and inch forward when everyone else is trapped in fear.

- We do this with a realisation that those we lead are seeing if we truly practice gratitude, compassion, faith, leadership.


"Announced on the 25th March 2020 was the Temporary Coronavirus Supplement which consists of $550 per fortnight to all current and new recipients of unemployment benefits (paid for 6 months beginning 27 April 2020).


In addition, access and obligations of the JobSeeker Payment and the Youth allowance have also been expanded to help assist people who have been effected due to the virus.


Support payments have also been introduced to assist current recipients of social security with a single payment of $750 which is available with an additional $750 for those who receive benefits but don't qualify for the Temporary Coronavirus Supplement.


On the 12th March 2020 the following were announced and waiting to be finalised as of the 23rd March 2020:

- a Crisis Payment for those facing extreme financial hardship,

- support for small businesses to help retain employees and manage cash flow."


This is our time to provide the best bookkeeping virtual service ever, and to demonstrate the remarkable strength, optimism, resilience, and purpose of Tradies Bookkeeping .Com


Take care out there and remember...






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