mteb/FeedbackQARetrieval huggingface dataset:
Supporting the Flow of Credit
Reserve Bank of Australia – Supporting the flow and reducing the cost of credit
The Reserve Bank of Australia (RBA) announced a package on 19 March 2020 that
will put downward pressure on borrowing costs for households and businesses.
This will help mitigate the adverse consequences of the Coronavirus on
businesses and support their day-to-day trading operations. The RBA is
supporting small businesses as a particular priority.
The RBA announced a term funding facility for the banking system. Banks will
have access to at least $90 billion in funding at a fixed interest rate of
0.25 per cent. This will reinforce the benefits of a low cash rate by reducing
funding costs for banks, which in turn will help reduce interest rates for
borrowers. To encourage lending to businesses, the facility offers additional
low-cost funding to banks if they expand their business lending, with
particular incentives applying to new loans to SMEs.
In addition, the RBA announced a further easing in monetary policy by reducing
the cash rate to 0.25 per cent. It is also extending and complementing the
interest rate cut by taking active steps to target a 0.25 per cent yield on
3-year Australian Government Securities.

Reserve Bank of Australia
The Australian Government's economic response to coronavirus
Boosting cash flow for employers
Timing of additional payment
The additional payment will be applied to a limited number of activity
statement lodgments. We will deliver the payment as a credit to the entity
upon lodgment of their activity statements. If this places the entity in a
refund position, we will deliver the refund within 14 days.
Quarterly lodgers will be eligible to receive the additional payment for the
quarters ending June 2020 and September 2020. Each additional payment will be
equal to half of their total initial Boosting Cash Flow for Employers payment
(up to a total of $50,000).
Monthly lodgers will be eligible to receive the additional payment for the
June 2020, July 2020, August 2020 and September 2020 lodgments. Each
additional payment will be equal to a quarter of their total initial Boosting
Cash Flow for Employers payment (up to a total of $50,000).
The Australian Government's economic response to coronavirus
Temporary early release of superannuation
How to apply
If you are eligible for this new ground of early release, you can apply
through ATO online services in myGovExternal
Link. You will
need to certify that you meet the eligibility criteria.
If you are a member of an APRA fund, we will process your application and then
issue you with a determination. We will also provide a copy of this
determination to your superannuation fund which will advise them to release
your superannuation payment. Your fund will then make the payment to you,
without you needing to apply to them directly.
If you are a member of a self-managed superannuation fund (SMSF), you can
apply through myGov from mid-April. We will issue you with a determination
advising of your eligibility to release an amount. When your SMSF receives the
determination from you, they will be authorised to make the payment.
For more information on eligibility and how to apply, go to COVID-19 early
release of super.
The Australian Government's economic response to coronavirus
Backing business incentive
The government is introducing a time limited 15-month investment incentive to
support business investment and economic growth over the short-term, by
accelerating depreciation deductions.
A deduction of 50% of the cost of an eligible asset on installation will
apply, with existing depreciation rules applying to the balance of the asset’s
cost.
Eligibility
Eligible businesses are businesses with aggregated turnover below $500
million.
Eligible assets are new assets that can be depreciated under Division 40 of
the Income Tax Assessment Act 1997 (that is, plant, equipment and specified
intangible assets, such as patents). This does not apply to second-hand
Division 40 assets, or buildings and other capital works depreciable under
Division 43.
Timing
This applies to assets acquired after announcement and first used or installed
by 30 June 2021.
The Australian Government's economic response to coronavirus
Boosting cash flow for employers
Timing of Boosting Cash Flow for Employers payments
The Boosting Cash Flow for Employers payment will be applied to a limited
number of activity statement lodgments. We will deliver the payment as a
credit to the entity upon lodgment of their activity statements. If this
places the entity in a refund position, we will deliver the refund within 14
days.
Quarterly lodgers will be eligible to receive the first payments for the
quarters ending March 2020 and June 2020.
Monthly lodgers will be eligible to receive the first payments for the March
2020, April 2020, May 2020 and June 2020 lodgments. To provide a similar
treatment to quarterly lodgers, the payment for monthly lodgers will be
calculated at three times the rate (300%) in the March 2020 activity
statement.
The minimum payment will be applied to the entities’ first lodgment.
The Australian Government's economic response to coronavirus
JobKeeper Payment
Payment process
The JobKeeper Payment will assist employers to continue operating by
subsidising all or part of the employee's income. We will make the payments to
the employer on a monthly basis (in arrears).
Eligible employers will be paid $1,500 per fortnight per eligible
employee.
Eligible employees will receive, at a minimum, $1,500 per fortnight,
before tax. Employers are able to top-up the payment.

Employees will receive $1,500 per fortnight (before tax) if they were 
employed on 1 March 2020
ceased employment with their employer due to the effects of COVID-19
re-engaged by the same eligible employer. 



Where employers participate in the scheme, their employees will receive the
payment as follows:

If an employee's income is normally $1,500 or more per fortnight (before tax) they will continue to receive their regular income according to their usual workplace arrangements.
If an employee's income is less than $1,500 per fortnight (before tax), their employer must pay their employee $1,500 per fortnight (before tax).
If an employee has been stood down , their employer must pay their employee $1,500 per fortnight (before tax).

It will be up to the employer to decide whether to pay superannuation on any
additional wage paid because of the JobKeeper Payment.
The Australian Government's economic response to coronavirus
Boosting cash flow for employers
Eligibility for Boosting Cash Flow for Employers payments
Small and medium sized business entities and NFPs with aggregated annual
turnover under $50 million and that employ workers will be eligible.
Eligibility will generally be based on prior year turnover.
We will deliver the payment as an automatic credit in the activity statement
system from 28 April 2020 upon employers lodging eligible upcoming activity
statements.
Eligible employers that withhold tax to the ATO on their employees’ salary and
wages will receive a payment equal to 100% of the amount withheld, up to a
maximum payment of $50,000.
Eligible employers that pay salary and wages will receive a minimum payment of
$10,000, even if they are not required to withhold tax.
The payments will only be available to active eligible employers established
before 12 March 2020. However, charities that are registered with the
Australian Charities and Not-for-profits Commission will be eligible
regardless of when they were registered, subject to meeting other eligibility
requirements. This recognises that new charities may be established in
response to COVID-19.
The Australian Government's economic response to coronavirus
Enhancing the instant asset write-off
The government is increasing the instant asset write-off (IAWO) threshold from
$30,000 to $150,000 and expanding access to include businesses with aggregated
annual turnover of less than $500 million (up from $50 million).
Timing
This proposal applies from 12 March 2020 until 30 June 2020, for new or
second-hand assets first used, or installed ready for use in this timeframe.
The Australian Government's economic response to coronavirus
Temporary early release of superannuation
Eligibility
Citizens and permanent residents of Australia and New Zealand
To be eligible for early release, citizens and permanent resident of Australia
and New Zealand must be in one of the following circumstances :

You are unemployed.
You are eligible to receive a job seeker payment, youth allowance for jobseekers, parenting payment (which includes the single and partnered payments), special benefit or farm household allowance.
On or after 1 January 2020, either 
you were made redundant
your working hours were reduced by 20% or more
you were a sole trader and your business was suspended or there was a reduction in your turnover of 20% or more.



Temporary residents
To be eligible for early release of super, temporary residents must be in
one of the following circumstances :

You hold a student visa that you have held for 12 months or more and you are unable to meet immediate living expenses.
You are a temporary skilled work visa holder whose working hours have been reduced to zero, however you remain engaged with your employer.
You are a temporary resident visa holder (excluding student or skilled worker visas) and you are unable to meet immediate living expenses.
The Australian Government's economic response to coronavirus
JobKeeper Payment
Eligibility

Employers
Self-employed individuals
Employees

Employers
Employers (including not-for-profits) will be eligible for the subsidy if:

their business has a turnover of less than $1 billion and their turnover will be reduced by more than 30% compared to a similar period (of at least a month) last year
their business has a turnover of $1 billion or more and their turnover will be reduced by more than 50% compared to a similar period (of at least a month).

Businesses subject to the Major Bank LevyExternal
Link
are not eligible for the subsidy.
Employers will need to:

apply to us
provide supporting information demonstrating a downturn in their business
report the number of eligible employees employed by the business on a monthly basis.

Eligible employers will receive the payment for each eligible employee that:

was on their books on 1 March 2020
continues to be engaged by that employer.

Self-employed individuals
Self-employed individuals will be eligible to receive the JobKeeper Payment if
their turnover has reduced (or is expected to reduce) by 30% compared to a
similar period (of at least a month)
Self-employed individuals will need to:

apply to us
provide supporting information demonstrating a downturn in their business

Employees
Eligible employees include:

full-time, part-time or long-term casuals (with their employer on a regular basis for at least 12 months) as at 1 March 2020
stood down employees of eligible employers on 1 March 2020
stood down employees re-engaged by a business that was their employer on 1 March 2020

Where employees have multiple employers:

Only one employer will be eligible to receive the payment.
The employee will need to notify their primary employer to claim the JobKeeker Payment on their behalf.
The employee's claiming of the tax-free threshold will, in most cases, be sufficient evidence that the employer is the employee’s primary employer.To be eligible, employees must be either an:
an Australian citizen
the holder of a permanent visa
a Protected Special Category Visa Holder
a non-protected Special Category Visa Holder who has been residing continually in Australia for 10 years or more
a Special Category (Subclass 444) Visa Holder.

If an employee has applied for support though Services Australia and the
employer will be eligible for the JobKeeper Payment, the employee will need to
advise Services Australia of their new income.
The Australian Government's economic response to coronavirus
Temporarily reducing superannuation minimum drawdown rates
The government is temporarily reducing superannuation minimum drawdown
requirements for account-based pensions and similar products by 50% for
2019–20 and 2020–21. This measure will benefit retirees holding these products
by reducing the need to sell investment assets to fund minimum drawdown
requirements.
The government is also reducing both the upper and lower social security
deeming rates by a further 0.25 percentage points in addition to the 0.5
percentage point reduction to both rates announced on 12 March 2020.
The Australian Government's economic response to coronavirus
Temporary early release of superannuation
Individuals financially affected by COVID-19 may be able to access some of
their superannuation early. They will not need to:

pay tax on amounts released
include it in their tax return.

Eligible Australian and New Zealand citizens and permanent residents can apply
online through myGov to access up to $10,000 of their superannuation before 30
June 2020. They can also access up to a further $10,000 between 1 July 2020
and 24 September 2020.
Accessing your super early:

will affect your super balance
may affect your future retirement income.

You should consider seeking financial advice before applying for early release
of super. Services Australia's Financial Information ServiceExternal
Link can provide free , confidential financial
information.
The Australian Government's economic response to coronavirus
Boosting cash flow for employers
As announced on 22 March, the government is providing up to $100,000 to
eligible small and medium sized businesses and not-for-profits (including
charities) that employ people, with a minimum payment of $20,000. These
payments will help business and not-for-profit cash flow so they can keep
operating, pay their bills and retain staff.
Small and medium sized business entities with aggregated annual turnover under
$50 million and that employ workers are eligible. Not-for-profit entities
(NFPs), including charities, with aggregated annual turnover under $50 million
and that employ workers will now also be eligible. This will support
employment activities at a time where NFPs are facing increasing demand for
services.
Under the enhanced scheme, employers will receive a payment equal to 100% of
their salary and wages withheld (up from 50%), with a:

minimum payment of $10,000
maximum payment of $50,000.

An additional payment is also being introduced in the July – October 2020
period. Eligible entities will receive an additional payment equal to the
total of all the Boosting Cash Flow for Employers payments they have received.
This means that eligible entities will receive at least $20,000, up to a total
of $100,000 under both payments. This additional payment continues cash flow
support over a longer period:

increasing confidence
helping employers to retain staff
helping entities to keep operating.

The cash flow boost provides a tax-free payment to employers. We will
automatically calculate it.
The Australian Government's economic response to coronavirus
Boosting cash flow for employers
Eligibility for additional payment
To qualify for the additional payment, the entity must continue to be active.
Monthly activity statement lodgers
For monthly activity statement lodgers, the additional payments will be
delivered as an automatic credit in the activity statement system. This will
be equal to a quarter of their total initial Boosting Cash Flow for Employers
payment following the lodgment of their June 2020, July 2020, August 2020 and
September 2020 activity statements (up to a total of $50,000).
Quarterly activity statement lodgers
For quarterly activity statement lodgers the additional payments will be
delivered as an automatic credit in the activity statement system. This will
be equal to half of their total initial Boosting Cash Flow for Employers
payment following the lodgment of their June 2020 and September 2020 activity
statements (up to a total of $50,000).
Transiting Australia
I am a New Zealander or Pacific Islander transiting to Australia
If you are a New Zealander, citizen of a Pacific Island Forum country, Timor
Leste citizen or resident of New Caledonia or French Polynesia transiting
though Australia on your way to or from New Zealand or a Pacific Island Forum
Country, you do not need a transit exemption if you have booked a
connecting flight to depart Australia within 72 hours of your arriving flight.
Due to domestic travel restrictions, your outbound connecting flight must be
departing from the same airport in Australia as your arrival flight, unless an
exemption has been granted.
If your connecting flight means you will spend longer than 72 hours, you are
not considered to be transiting Australia and will need toapply
online to the Commissioner of the ABF for an
exemption from the travel restrictions.
Transiting Australia
Transit quarantine arrangements
If you cannot remain in the airport before your connecting flight departs, you
will need a valid visa, or be eligible to TWOV, and you must follow the
quarantine and isolation requirements in the state or territory that you have
arrived in. You must do this, even if you have an exemption from the ABF
Commissioner.
State and territory authorities will consider exemptions to the mandatory 14
day quarantine
period on a case by
case basis. To find out more about how quarantine works in your state or
territory, or to ask about someone you know who has been quarantined, contact
your state or territory government health
department.
Transiting Australia
Transit visa requirements
To transit through Australia, you must either hold a valid visa or be from an
eligible country to Transit Without a Visa
(TWOV).
If you don’t have a visa or are not eligible to TWOV that allows you lawful
entry into Australia, you can apply for a Transit visa (subclass
771) which allows you to transit through Australia for up to
72 hours while you wait for your onwards flight. This visa doesn’t allow you
to stay in Australia longer. If you need to stay longer, you should apply for
a different visa.
Eligible New Zealand citizens can transit through Australia on a Special
Category visa (Subclass 444).
What you need to know about coronavirus (COVID-19)
Treatment
There is no treatment for COVID-19. Medical care can treat most of the
symptoms.
COVID-19 is caused by a virus. Antibiotics do not work on viruses.
Some reports suggest certain drugs, including hydroxychloroquine, can be used
to treat COVID-19. The Therapeutic Goods
Administration has not approved hydroxychloroquine,
or any other drug, for treating COVID-19, in Australia
We are supporting research to find effective treatments for the
virus. There is no approved vaccine for COVID-19, but global
efforts to develop a vaccine continue.
Limits on medications
Many Australians need medication to manage a health condition. Medication
shortages can threaten lives.
To make sure everyone has access to the medications they need, pharmacies must
limit sales of some prescription and over the counter medications.
Learn more about limits on prescribing
hydroxychloroquine and limits on other prescription and
over-the-counter medications.
What you need to know about coronavirus (COVID-19)
How it spreads
The virus can spread from person to person through:

close contact with an infectious person (including in the 48 hours before they had symptoms)
contact with droplets from an infected person’s cough or sneeze
touching objects or surfaces (like doorknobs or tables) that have droplets from an infected person, and then touching your mouth or face

COVID-19 is a new disease, so there is no existing immunity in our community.
This means that COVID-19 could spread widely and quickly.
See how to protect yourself and others.
What you need to know about coronavirus (COVID-19)
Symptoms
Symptoms of COVID-19 can range from mild illness to pneumonia. Some people
will recover easily, and others may get very sick very quickly. People with
coronavirus may experience symptoms such as:

fever
respiratory symptoms 
coughing
sore throat
shortness of breath



Other symptoms can include runny nose, headache, muscle or joint pains,
nausea, diarrhoea, vomiting, loss of sense of smell, altered sense of taste,
loss of appetite and fatigue.
To stop the spread of COVID-19 people with even mild symptoms of respiratory
infection are encouraged to get tested.
If you are concerned you may have COVID-19:

use the symptom checker
see how to seek medical attention
see more about testing

healthdirect Coronavirus (COVID-19) Symptom Checker
Answer questions about your symptoms to see if you need to seek medical help
or get tested. This tool is available online at any time.
If you do not have any symptoms, you should still protect yourself and
others.
What you need to know about coronavirus (COVID-19)
What is COVID-19
Coronaviruses are a large family of viruses that cause respiratory infections.
These can range from the common cold to more serious diseases.
COVID-19 is a disease caused by a new form of coronavirus. It was first
reported in December 2019 in Wuhan City in China.
Other coronaviruses include Middle East Respiratory Syndrome
(MERS) and Severe Acute Respiratory
Syndrome (SARS).
What you need to know about coronavirus (COVID-19)
How to seek medical attention
If you are sick and think you have symptoms of COVID-19, seek medical advice.
If you want to talk to someone about your symptoms, call the National
Coronavirus Helpline for advice.
National Coronavirus Helpline
Call this line if you are seeking information on coronavirus (COVID-19) or
help with the COVIDSafe app. The line operates 24 hours a day, seven days a
week.
1800 020 080
View contact
To seek medical help from a doctor or hospital, call ahead of time to book an
appointment.
You will be asked to take precautions when you attend for treatment. Follow
the instructions you are given.
If you have a mask, wear it to protect others. Stay at least 1.5 metres away
from other people. Cover your coughs or sneezes with your elbow.
Tell the doctor about:

your symptoms
any travel history
any recent contact you have had with someone who has COVID-19

GP respiratory clinics
Find out below if there is a GP respiratory clinic near you and how to
register for an appointment :

Australian Capital Territory
New South Wales
Northern Territory
Queensland 
South Australia
Tasmania
Victoria
Western Australia
What you need to know about coronavirus (COVID-19)
Who is most at risk
In Australia, the people most at risk of getting the virus are:

travellers who have recently been overseas
those who have been in close contact with someone who has been diagnosed with COVID-19
people in correctional and detention facilities
people in group residential settings

People who are, or are more likely to be, at higher risk of serious illness if
they get the virus are:

Aboriginal and Torres Strait Islander people 50 years and older with one or more chronic medical conditions
people 65 years and older with chronic medical conditions
people 70 years and older
people with chronic conditions or compromised immune systems
people in aged care facilities
people with a disability

At this stage the risk to children and babies, and the role children play in
the transmission of COVID-19, is not clear. However, there has so far been a
low rate of confirmed COVID-19 cases among children, relative to the broader
population.
There is limited evidence at this time regarding the risk in pregnant women.
See our advice for people at risk.
What you need to know about coronavirus (COVID-19)
Temperature checks 
A temperature check is when a monitoring device, such as a contactless
thermometer or thermal imaging, checks whether someone has a fever. In places
like hospitals and aged care facilities, temperature checks may be useful as
an extra precaution to protect vulnerable people. Some places might test
visitors as well as workers.
Temperature checks are not as useful in other settings. People with COVID-19
don’t always develop fever, or they might have a fever from another illness.
Some medications reduce fever.
If you feel unwell with COVID-19 symptoms, even mild ones, stay home and get
tested for COVID-19. This is an important part of our 3-step framework for a
COVIDSafe Australia.