Economic Recovery Plan for Australia
Posted on October 20th, 2020
The Federal Government’s Economic Recovery Plan for Australia intends to create jobs, rebuild our economy and secure Australia’s future. Read the media release here: https://ministers.treasury.gov.au/ministers/josh-frydenberg-2018/media-releases/economic-recovery-plan-australia
As part of this, the Federal Government has committed $4 billion to JobMaker Hiring Credit which will be payable for up to 12 months for each new job and is available to employers who hire eligible employees aged 16 to 35 years. For more information about JobMaker, click here: https://budget.gov.au/2020-21/content/jobmaker.htm
The JobMaker Plan includes the establishment of the $1 billion Job Trainer Fund to create up to 340,000 free or low cost training places for school leavers and job seekers. For more information about Job Trainer, click here: https://www.dese.gov.au/jobtrainer-fund
The Budget also provides an additional $17.8 billion in personal income tax relief for more than 11 million Australians to support the economic recovery, including $12.5 billion over the next 12 months. For more information, click here for the Budget overview: https://budget.gov.au/2020-21/content/download/glossy_overview.pdf
The Australian Government has also announced Budget measures to provide a six-month extension of the current Environmental Management Charge waiver, benefiting both Marine Park visitors and businesses.