Australia is not an exception in this case too. March 2021, almost 5 million Aussies will receive government support of 250$ on their bank accounts as a part of the stimulus payment during COVID-19.
This is already the second tranche of the support, which was financed from the federal budget, to help people who are economically affected by the global pandemic. The government created Economic Support Payment which was allocated for 2020-2021 In the form of four-time assistance.
Veterans and family members are eligible for receiving this support from the government to assist with the essential living expenses, and the payments are made directly to their bank account. The eligible DVA benefits are:
However, it is obvious that $250 is not enough for living, as the average minimum living expenses in Australia is almost $1600.
According to TradinBeasts.com, many Aussies have used this stimulus check to start trading Forex in order to generate their profits while being unemployed or without the source of income during this economic lockdown. Moreover, the crypto-industry is thriving right now, and because of that, those people are hoping for the improvement of their economic conditions.
Those who are receiving coronavirus supplements are not eligible for the economic support payment.
The first payment was March 2020 – The Australian Government declared a $17.6 billion stimulus package, including a one-off $750 payment to those who accepted the previously mentioned DVA benefits between 12 March and 13 April 2020
The second payment – The Government published the second step of its economic policy to cushion the economic shock of the coronavirus and assist in constructing a bridge to recovery.
In addition to the first stimulus payment, the Government contributed a further $750 payment to Australian resident social security recipients.
The third payment – As part of the Federal Budget on 6 October 2020, the Australian Government declared 2 additional Economic Support Payments of $250 to continue its support of the Australian society through the pandemic.
The Fourth Payment – The additional Economic Support Payment 2021 will be made in March 2021 to Australian resident social security beneficiaries and those holding the previously mentioned DVA payments on 26 February 2020.
There were many different steps and policies taken in different countries worldwide. All of them were specific and adapted to their own reality and resources. There are several important steps taken by the Australian Government in response to the Coronavirus pandemic.
Finally, to summarize, it is obvious that every country has its own approach to the current situation, and Australia is one of them.
To talk in numbers, it is vivid that Australia is managing the crisis very efficiently since the country has only single-digit cases since October, but it should be noted that disposable economic support, which was allocated by the government, is not enough for living expenses.
This is the reason why people tried to use stimulus checks in order to gain more profits, and the study says that they have found several other ways for it.
Image courtesy of Ben Mack/Pexels
The online betting industry is rising on a global level. Statistics have shown that the…
As the current COVID-19 crisis continues to disrupt the lives of millions of Australians and…
Australia has yet to qualify for the World Cup in Qatar next winter, but they…