Coronavirus New Law Passed

Recently passed legislation

A package of Bills to implement a part of the federal government’s economic response to the devastating consequences of the coronavirus pandemic has been passed by both Houses of Parliament and received Royal Assent on 9 April 2020.
The legislative package includes the following Bills:

  • Coronavirus Economic Response Package (Payments and Benefits) Bill 2020; and
  • Coronavirus Economic Response Package Omnibus (Measures No.2) Bill 2020.
These Bills include:
  • Supporting the practical operation of the JobKeeper scheme;
  • Providing a framework for financial support (such as the JobKeeper
    Payments) to be provided by the Tax Commissioner to assist businesses and
  • their employees through the downturn caused by the pandemic, with specific rules and eligibility criteria to be made in separate rules by the Treasurer;
  • Guarantee of lending to small and medium enterprises;
  • Supporting the child care sector;
  • Modification of information and other requirements;
  • Providing additional support for veterans; and
  • Tax secrecy measures.
Verus Accountants and Advisors has provisions in supporting the newly passed Bills. Drop us an inquiry today at our contact page and let’s get engaged to know how we can assist you further.

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