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.