Covid-19 Stimulus Measures
There are several measures that have been introduced to assist individuals and businesses affected by the COVID-19 virus. These include:
- Help with paying ATO debts
- Support for businesses and employers (including instant asset write-off, the backing business incentive and JobMaker hiring credit)
- Support for individuals and employees (including early release of superannuation and minimum drawdown rate options and working from home)
- Support for not-for-profits (including amendments for ancillary funds, and changes for disaster relief funds, charities and universities)
- Support for tax professionals (including lodgement and payment deferrals for clients of tax agents)
- Government grants, payments and stimulus
- Fringe benefits tax (including COVID-19 testing, PPE equipment, garaging of cars, emergency health care and cancelled events)
- Additional support during COVID-19 (including information on lodgement and payment, varying PAYG Instalments or claiming GST credits)
The ATO also has a range of COVID-19 compliance measures.
However, employers who provide incentives or rewards to their employees for taking a COVID-19 vaccination will continue to have income tax, superannuation and FBT obligations, depending on the nature of such arrangements.