The COVID Disaster Payment is better than JobKeeper

Under JobKeeper, employees were paid $750 a week from their employee, but as taxable salary.

Under its replacement, the so called “COVID-19 Disaster Payment”, employees who are in hot spot areas and who lose more than 20 hours a week get $750 a week paid to them by Services Australia (yes they have to apply for it themselves).

But a Bill that received Royal Assent today makes this $750 Disaster Payment Non-Assessable Non-Exempt.

Even better than JobKeeper…

Treasury Laws Amendment (COVID-19 Economic Response No 2) Bill 2021

By Ken Mansell

As a stay at home Dad most of the week this is my way of pretending I am still the tax counsel of ASX and SEC listed companies, working at big 4 firms, working at the Federal Treasury, on the Henry Review and at Parliament House for the previous government.

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