Table 1 details the payments and concession cards eligible for the one-off payment. Only one payment of $750 can be made to each eligible individual, regardless of how many eligible payments they receive or concession cards held. From 28 September 2020 to 3 January 2021, the payment rate is $1,200 per fortnight for all eligible employees who, in the four weekly pay periods before the reference period, were working in the business or not-for-profit for 20 hours or more a week on average and for business participants who were actively engaged in the business for 20 hours or more per week, and $750 per fortnight for employees who were working in the business or not-for-profit for less than 20 hours a week on average and business participants who were actively engaged in the business less than 20 hours per week in the reference period. Businesses and not-for-profits will need to demonstrate that they have met the relevant decline in turnover test in the December 2020 quarter to remain eligible for the March 2021 quarter. That was 0.88 per cent of GDP. Uncertainty, particularly around employment and income, may cause some recipients to save the lump sum amounts rather than spend them. It was payments through the payment system. A number of groups who may be considered low-income will fall outside the eligibility criteria for the lump sum payments. From 4 January 2021 to 28 March 2021, the payment rate will be $1,000 per fortnight for all eligible employees who in the four weekly pay periods before the reference period, were working for 20 hours or more a week on average and for business participants who were actively engaged in the business for 20 hours or more per week, and $650 per fortnight for employees who were working for less than 20 hours a week on average and business participants who were actively engaged in the business for less than 20 hours per week in the reference period. Announcing the first payment, Prime Minister Scott Morrison described it as an economic stimulus measure: The cash payments, the cash payments have two purposes. those with income or assets that are just over the income and asset test thresholds for  the various qualifying payments. Coronavirus (COVID-19) updates from the Australian Government. We have another payment now scheduled for for July, for the next quarter. This will exclude the following payment recipients: The Coronavirus Supplement is a payment of $550 per fortnight to be paid for a period of at least six months (see Part 1 FlagPost for further information). On 12 March 2020 the Australian Government announced an economic stimulus package in response to the coronavirus (COVID-19) pandemic. There were a number of different one-off stimulus payments made in response to the GFC: A number of research papers found that these payments boosted spending by recipients and were effective in providing an economic stimulus. Largely implemented after the worst of the GFC had passed, fiscal stimulus countered the effectiveness of monetary policy by keeping market interest rates higher than otherwise and therefore contributed to a strong exchange rate. We may adjust your Rent Assistance if any of the following occurs: Payments are to be made from 31 March 2020 to those who were in receipt of an eligible payment or who held an eligible concession card in the period 12 March 2020 to 13 April 2020. In an External Paper published by the Treasury, Tony Makin from Griffith University, found: There is no evidence fiscal stimulus benefited the economy over the medium term. “For pensioners alone those four payments over the … Information about the operation of the JobKeeper Payment is available on the ATO website. What the standard rules are. This document is a withholding schedule made by the Commissioner of Taxation in accordance with sections 15-25 and 15-30 of Schedule 1 to the Taxation Administration Act 1953 (TAA). Businesses and not-for-profits need to demonstrate that they have met the relevant continuing decline in turnover test in both of those quarters to be eligible for JobKeeper from 28 September 2020 to 3 January 2021. The reference date for assessing which employees are eligible for the JobKeeper Payment is now 1 July 2020 with effect from 3 August 2020. So we had one payment scheduled for April. In a 2014 research paper for the University of Melbourne’s Department of Economics, Shuyun May Li and Adam Spencer developed a model for analysing the effectiveness of the 2008 and 2009 stimulus payments. Second $750 one-off payment to households The government has also announced a second one-off stimulus payment for Centrelink payment recipients and for eligible concession card recipients. However, following amendments to the  Coronavirus Economic Response Package Omnibus Bill 2020 in the Senate, the Government indicated that it would move to provide recipients of Youth Allowance (Student and Apprentice), ABSTUDY Living Allowance and Austudy with access to the supplement.