As of 23 March 2020, the Australian Federal Government had legislated its first and second sets of economic stimulus packages in response to the rapidly deteriorating economic effects of the coronavirus (COVID-19). The various draft bills to implement these stimulus responses passed both Houses of Parliament and received royal assent on 24 March 2020 (collectively the new tax legislation).
In addition, the Government announced its third set of stimulus measure, JobKeeper (Wage Subsidy) Payment on 30 March 2020.
This latest measure was enacted into legislation which received royal assent on 9 April 2020. Our answers below to questions on this subject reflect the Treasury’s Rules subsequently made in accordance with the legislation.