Today the Prime Minister, Scott Morrison, gave an update on the decisions makes by the National Cabinet when they met this morning, including an additional funding for the aged sector. The Treasurer, Josh Frydenberg, thanked the banking sector for coming to the table with the Small Business Relief Package – calling it a game changer.
Details of the second stimulus package are yet to come – but will focus on cushioning the blow of COVID-19 on SMEs and sole traders.
Rent relief
State and Territory governments have all agreed to look at relief for commercial and residential tenants for the next 6 months. Landlords are encouraged to provide additional rent relief.
Additional requirements for gatherings in internal spaces
The limit of 100 people remains for internal non-essential gatherings, with an additional requirement to have 4m2 for every person. Businesses impacted by this limit should assess their internal space to understand what their individual limits will be.
Additional funding for aged care
An additional $444.6m in funding will be provided to support aged care facilities. This includes:
- $234.9m for a retention bonus for staff in both residential and home care.
- $78.3m in additional funding for residential care to support continuity of workforce supply.
- $26.9m to supplement the viability of residential aged care facilities.
- $92m in additional support for home care providers and organisation which deliver the Commonwealth home support program, including services like Meals on Wheels.
- $12.3m to support the aged care sector respond to the needs of older Australians.
Budget delays
The Federal Government has delayed the delivery of the Federal Budget to the first Tuesday of October. State and Territory governments are also looking at delaying their Budgets to ensure they can focus on the immediate needs of the economy.
Travel restrictions
The National Cabinet is still considering travel restrictions in the lead up to school holidays. In the meantime, they request that all people reconsider their domestic travel needs.
Protecting remote Indigenous communities
Restrictions will be placed on travel to remote Indigenous areas and communities to prevent the spread of coronavirus. States and Territories will consult with communities directly to identify these areas.
What’s next?
The Federal Government flagged there was more detail to come on cutting red tape around access to funding for small businesses, domestic travel restrictions, supply chain and essential services security and managing community outbreaks.
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Further enquiries, please contact:
Therese Raft
National Communications Manager
Grant Thornton Australia
T +61 2 8297 2724
E therese.raft@au.gt.com
