AUSTRALIA'S RESPONSE TO THE CORONAVIRUS
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JOBKEEPER
* $130 billion JobKeeper program provides a payment of $1500 a fortnight, available for up to six months.
* To qualify, businesses must have lost at least 30 per cent turnover due to coronavirus. For businesses with a turnover above $1 billion, turnover must have fallen by at least 50 per cent.
* Payments will be made from May 1 and backdated to March 30.
* Employees making over $1500 a fortnight will receive their regular wage, with the JobKeeper payment partially subsidising their wage.
HEALTH
* $1.3 billion of federal funding to underwrite 657 private hospitals under an agreement opening up 35,000 private hospital beds to public patients. The states and commonwealth will split services costs 50-50.
* $1.1 billion healthcare and vulnerable Australians package, including bulk-billed telehealth services, domestic violence support, mental health services.
* Private health insurers to postpone planned April 1 premium increases for at least six months.
PAYMENTS
* $25 billion for households, includes $14.1 billion in expanded eligibility for income support payments (extra $550 a fortnight), $1.6 billion for students, $8.8 billion in two rounds of $750 payments.
* $1.2 billion early superannuation access (tax-free withdrawal of up to $20,000 in superannuation).
BUSINESS
* $31.9 billion cash flow boost for employers, providing between $20,000 and $100,000.
* $700 million increased instant asset write-off
* $3.2 billion accelerating depreciation deductions
* $1.3 billion wage assistance for apprentices and trainees.
* $1 billion for affected regions.
* $715 million for airlines and airports:
* Relief from many government taxes and charges.
FINANCE
* $20 billion small and medium sized business loan guarantee.
* $15 billion from the government for SME lending through the banks.
* $90 billion from Reserve Bank for SME lending through the banks.
CHILDCARE
* Free child care for people still in paid work.
* $1.6 billion to childcare centres over the next three months.
* Childcare centres will also be eligible for the cash flow boost and loan guarantees.
CHARITIES
* $200 million for charities, community groups.
IN THE KITTY
* $40 billion discretionary fund under the control of the Finance Minister.
EXPORTS
* $110 million from the $1 billion regional fund to get exports such as seafood into China, Japan, Hong Kong, Singapore and the United Arab Emirates.
STATES AND TERRITORIES
Victoria
* $1.7 billion stimulus package
NSW
* $3.3 billion stimulus package
Queensland
* $4 billion stimulus plan.
WA
* $1 billion economic and health relief package
SA
* $1 billion stimulus/support package
Tasmania
* $1 billion package.
Australian Capital Territory
* $137 million stimulus.
Northern Territory
* $65 million stimulus.
(Sources: Federal government; IPA)
Australian Associated Press
