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The Morrison Government has this year passed major pieces of legislation to cushion the blow of the COVID-19 pandemic, keeping Australians in jobs, businesses in business and sparking a faster-than-anticipated economic recovery.
Despite 2020’s challenges, the Government has also successfully delivered on its promises to cut red tape and improve Australia’s economic competitiveness, with reforms to the tax system, insolvency, financial services and foreign investment.
In total, the Government passed more than 40 pieces of legislation in 2020 from the Treasury Portfolio, including:
JobKeeper
A key feature of the Government’s Economic Recovery Plan is the temporary JobKeeper Payment which has been an economic lifeline to millions of Australians, helping to keep businesses in business and Australians in jobs.
Announced in March, legislated in April and extended in September, the JobKeeper Payment provided a critical economic lifeline for Australian businesses and their employees at the height of the pandemic.
The first phase of JobKeeper supported more than 3.6 million workers and around 1 million businesses, with payments totalling nearly $70 billion in the six months to the end of September.
RBA analysis released in November indicated that JobKeeper has saved at least 700,000 jobs.
Cash Flow Boost
The Government’s economic response also provided direct cash flow support to small and medium businesses and not-for-profit entities to keep operating, pay their bills and retain staff.
The Boosting Cash Flow for Employers measure was announced and legislated in March, with the first payments beginning in April.
In total, this measure is expected to provide around 800,000 small business and not-for-profit entities with support totalling around $35.5 billion.
The cash flow boost has offered vital support to businesses and not-for-profit entities weathering the COVID-19 crisis, ensuring they recover strongly and continue to grow.
JobMaker Hiring Credit
Unveiled in October’s Federal Budget, the $4 billion JobMaker Hiring Credit is helping younger Australians, hit particularly hard by the pandemic, get back to work.
Parliament passed legislation in November, securing fixed payments of $200 per week for an eligible employee aged 16 to 29 years and $100 per week for an eligible employee aged 30 to 35 years, paid quarterly in arrears by the Australian Taxation Office.
The JobMaker Hiring Credit is expected to support around 450,000 positions for young Australians.
Tax Relief
Following the Federal Budget in October, the Government secured the passage of legislation through Parliament to deliver tax cuts for more than 11 million Australians, backdated to 1 July this year.
By bringing forward Stage two of the Personal Income Tax Plan and providing the additional low and middle income tax offset, hard working Australians will have more money in their pockets at a time when they need it most.
The legislation also recognises the importance of businesses in the economic recovery, by allowing those with a turnover of up to $5 billion to immediately deduct the full cost of eligible depreciable assets as long as they are first used or installed by 30 June 2022.
Insolvency Reforms
In order to help businesses dealing with the economic impact of COVID-19, the Government successfully passed legislation to enact the most important changes to Australia’s insolvency framework in 30 years.
The reforms introduce a new, simplified debt restructuring process, drawing on key features of the Chapter 11 bankruptcy model in the United States. They will apply to incorporated businesses with liabilities of less than $1 million – covering around 76 per cent of businesses subject to insolvencies today, 98 per cent of whom who have less than 20 employees.
The measures take effect on 1 January 2021, reducing costs, cutting red tape and ultimately helping more small businesses to recover from the COVID-19 crisis.
Foreign Investment Framework
In December, the Government passed legislation giving effect to the most significant reforms to the Foreign Acquisitions and Takeovers Act 1975 in nearly 50 years.
This ensures Australia’s foreign investment framework keeps pace with emerging risks and global developments, including similar changes to foreign investment regimes in comparable countries.
Responding to the Hayne Royal Commission
The Government continues to bolster protections for consumers and small businesses as part of its response to the Hayne Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
In December, Parliament passed legislation addressing 20 recommendations, strengthening unsolicited selling (anti-hawking) provisions and preventing pressure selling, introducing a deferred sales model for add-on insurance products and making the handling and settlement of insurance claims a ‘financial service’.
These changes are complemented by providing further clarity regarding the role of the regulators and enhancing the requirements of financial institutions reporting breaches of the law which will ensure significant misconduct is reported and investigated sooner.
The Government’s legislative agenda in 2021 will continue to create jobs, rebuild our economy and secure Australia’s future.

Contracts have been signed with companies to partner with the Australian Government to safely distribute COVID-19 vaccines to all Australians from March next year.
The contracts cover three vital aspects of the vaccine rollout:

• Distribution and logistics— industry leading providers DHL and Linfox will undertake COVID-19 vaccine distribution.
• Data—Accenture will provide tracking of vaccine doses as well as enabling overall program implementation monitoring.

In addition, PwC will be the Department of Health’s Program Delivery Partner for the vaccine rollout.
Finalisation of these contracts confirms Australia is on track to achieve a well-ordered, efficient and safe rollout of COVID-19 vaccine. Subject to approvals, the first vaccinations will be provided to health workers and aged care residents from March.
DHL and Linfox will work with the Department of Health to design and operate a national distribution network. They will support vaccination for all, including people in rural, remote and very remote areas and others who are hard to reach.
They will also be required to track and report the temperature of the vaccine at all times. The required temperature could be 2 to 8 degrees (standard cold chain temperatures) to as low as minus 70, which is needed for the Pfizer vaccine.
Purpose built dry ice containers will be supplied for moving the Pfizer vaccine around Australia, as part of the Government’s global distribution deal with Pfizer.
As well as transporting the vaccines from the point of acceptance from manufacturers to vaccination administration sites, the logistics partners will be responsible for transport and management of vaccination supplies such as needles, syringes, and personal protective equipment.
Data partner Accenture will design, develop, and implement a software solution to enable “point in time” visibility of COVID-19 vaccine doses across the delivery chain.
This will include receipt of the vaccine by health services, vaccination of patients, and subsequent monitoring for adverse reactions.
Vaccines will be a critical part of Australia’s ongoing response to COVID-19 and the Australia Government has secured over 117 million doses to cover the Australian population several times over.
Vaccines will complement the other vital health measures including social distancing, good hand hygiene, high testing rates and Australians mandatory hotel quarantine regime for international travellers.
Our advice remains that Australia remains on track for first vaccinations in March, and completion of whole of population in 2021.
Australia’s response to the COVID-19 pandemic remains the envy of the world.

Contracts have been signed with companies to partner with the Australian Government to safely distribute COVID-19 vaccines to all Australians from March next year.
The contracts cover three vital aspects of the vaccine rollout:

• Distribution and logistics— industry leading providers DHL and Linfox will undertake COVID-19 vaccine distribution.
• Data—Accenture will provide tracking of vaccine doses as well as enabling overall program implementation monitoring.

In addition, PwC will be the Department of Health’s Program Delivery Partner for the vaccine rollout.
Finalisation of these contracts confirms Australia is on track to achieve a well-ordered, efficient and safe rollout of COVID-19 vaccine. Subject to approvals, the first vaccinations will be provided to health workers and aged care residents from March.
DHL and Linfox will work with the Department of Health to design and operate a national distribution network. They will support vaccination for all, including people in rural, remote and very remote areas and others who are hard to reach.
They will also be required to track and report the temperature of the vaccine at all times. The required temperature could be 2 to 8 degrees (standard cold chain temperatures) to as low as minus 70, which is needed for the Pfizer vaccine.
Purpose built dry ice containers will be supplied for moving the Pfizer vaccine around Australia, as part of the Government’s global distribution deal with Pfizer.
As well as transporting the vaccines from the point of acceptance from manufacturers to vaccination administration sites, the logistics partners will be responsible for transport and management of vaccination supplies such as needles, syringes, and personal protective equipment.
Data partner Accenture will design, develop, and implement a software solution to enable “point in time” visibility of COVID-19 vaccine doses across the delivery chain.
This will include receipt of the vaccine by health services, vaccination of patients, and subsequent monitoring for adverse reactions.
Vaccines will be a critical part of Australia’s ongoing response to COVID-19 and the Australia Government has secured over 117 million doses to cover the Australian population several times over.
Vaccines will complement the other vital health measures including social distancing, good hand hygiene, high testing rates and Australians mandatory hotel quarantine regime for international travellers.
Our advice remains that Australia remains on track for first vaccinations in March, and completion of whole of population in 2021.
Australia’s response to the COVID-19 pandemic remains the envy of the world.

The health and safety of older Australians should be a priority this holiday season with families urged to keep in contact with those most in need – but to take appropriate precautions.
While restrictions have eased across Australia, providers and families living across the Northern Beaches and Penrith areas of Sydney must abide by the current visitation guidelines.
Until further notice all staff and visitors at residential facilities must wear a surgical mask.
Additionally, until at least Wednesday 30 December, all residential aged care facilities across the Northern Beaches LGA must exclude visitors, except those performing essential caring functions.
Up to two people are permitted to visit loved ones in residential aged care facilities in Greater Sydney including the local government areas of Central Coast and Wollongong.
The rule also applies for Greater Sydney residents visiting regional aged care facilities.

There are no restrictions on people from regional NSW visiting residents in regional facilities.
Updated advice for Residential Aged Care facilities and Home Care Service providers can be found here.
Minister for Senior Australians and Aged Care Services, Richard Colbeck, said aged care providers and families were required to follow the relevant visitation guidelines to ensure loved ones could maintain contact.
“We know where there is community transmission there is a serious risk of the virus spreading to aged care settings,” Minister Colbeck said.
“It is a difficult time for residents, families, providers and staff at facilities across this region but it’s vital we prioritise and protect our most vulnerable.
“Of course, we want families to maintain contact with their relatives in aged care, and a phone call or video call will mean a lot to those who can’t have visitors.
“Staff and management will continue to provide compassion and understanding, while also being a strong line of defence for those in their care from the coronavirus.”
Australian Government support for aged care providers in the Northern Beaches hotspot is already being provided, including asymptomatic testing, supplies of personal protective equipment as required, and workforce surge and support where needed.
A new three-tier escalation plan, backed by the Australian Health Protection Principal Committee (AHPPC), outlines how providers can respond to the COVID-19 threat level in the local community and ramp the response up or down as needed.
The AHPPC guidelines outline visitation recommendations providers can put in place if they are in a defined hotspot with localised outbreaks of cases (Tier 2) and when there is an outbreak of COVID-19 in the community (Tier 3).
“Residents must be protected in the least restrictive manner and their health needs must be balanced with their personal wellbeing,” Minister Colbeck said.
Additionally, Minister Colbeck said the Industry Code for Visiting Residential Aged Care Homes during COVID-19, developed in conjunction with consumer peak bodies sets out a nationally consistent, principles-based approach to maintaining residents’ visitation and communication – the Government welcomes the latest version of the code.
In conjunction with the new visitation guidelines, it offers clarity for residents and families.
“It is an important time of the year for families to re-connect, particularly as we return to COVID-normal environments with the current exception of the Sydney hotspots,” Minister Colbeck said.
“The social distancing measures we have all adopted will protect our families.
“Don’t visit if you are unwell, practise good hand and cough hygiene, and follow the advice available from staff at the aged care facility.”
All aged care providers are urged to ensure their outbreak management plan is up to date and ready to be activated. They must also be alert to any staff or care recipients experiencing respiratory and flu like symptoms.
The Visitation Guidelines for Residential Aged Care can be found here.
The COVID-19 escalation tiers and aged care provider responses can be found here.
The Older Persons COVID Support Line can offer information and support to seniors who need assistance or are feeling worried and isolated. The line can be reached on free call 1800 171 866.
Mental health support is available to all Australians by calling Lifeline (13 11 14) or BeyondBlue (1800 512 348) and further resources are available on the Department of Health’s Head to Health website.