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Member For Mayo on the Multi-Billion Dollar Stimulus Package

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The Federal Government’s stimulus package has passed through parliament, releasing more than $84 billion in financial assistance for Australians.

The Member for Mayo Rebekha Sharkie said while only a bare minimum of MPs and Senators were present on Monday 23 March, two rounds of stimulus measures were passed without objection in the House of Represenatives and the Senate by midnight.

"It's extraordinary measures but I think incredibly necessary and I commend the Government for the comprehensive work they've done in a very short period of time, to think about as many different groups and individuals and businesses in our society and how we can support the continuation of our community into the foreseeable future," Ms Sharkie said.

The measures include support for low income households, pensioners, small business and now more than 200,000 students on Austudy and Youth Allowance.

CEO of the Australian Council of Social Service Dr Cassandra Goldie said she welcomes the passage of both stimulus packages through the Parliament last night but that more will be needed.

“We’re relieved to see that the $550 per fortnightly Supplement will now be extended to students on Youth Allowance, Abstudy and Austudy. We will advocate for more support for people who remain uncovered by income support if they have no paid employment, including asylum seeker," ACOSS CEO Dr Cassandra Goldie said:

"We are also concerned for people with disability, for carers and others who have specific needs in this health and economic crisis, which must be a priority."

Along with support for business, announced earlier this month, the stimulus packages include:

  •  A payment of $550 per fortnightly Supplement (beginning late April, currently locked in for six months) to both existing and new recipients of JobSeeker Payment, Youth Allowance jobseeker, Youth Allowance student, Abstudy, Austudy, Parenting Payment, Farm Household Allowance and Special Benefit.
  • A $750 one-off payment for (in late March – mid April) for social security recipients, including pensioners and concession card holders.  
  • A second $750 one-off payment (in July) for all receiving social security payments who do not receive the 6-month supplement.
  •  No penalty to access up to $10,000 of Superannuation early due to financial hardship

The CEO of the Australian Council of Social Service Dr Cassandra Goldie welcomes the passage of both stimulus packages through the Parliament but said more will be needed.

“We’re relieved to see that the $550 per fortnightly Supplement will now be extended to students on Youth Allowance, Abstudy and Austudy. We will advocate for more support for people who remain uncovered by income support if they have no paid employment, including asylum seekers," ACOSS CEO Dr Cassandra Goldie said.

"We are also concerned for people with disability, for carers and others who have specific needs in this health and economic crisis, which must be a priority."

Visit The Treasury's webpage for more information