Many of us will be happy to put 2020 behind us and welcome the new year.
But along with the New Year’s resolutions comes a list of new rules, regulations, taxes, and other benefits you need to know about.
Here are all the changes coming in 2021.
COVID Vaccine Rollout
The Australian government aims to have as many people vaccinated against COVID-19 as possible by 2021.
The first vaccine is likely to be released in Australia on March 2021.
The top groups will get the first doses available, as long as they are found to be safe and effective, but more people will be able to get the vaccine as more jabs are available year-round.
Anti-vaccine population will not be forced to get vaccinated as Prime Minister Scott Morrison has stressed that the compulsory vaccination of COVID “is not a government policy and has never been a government policy”.
“We can only encourage people to take advantage of this opportunity. But they will make their own decisions and we will be looking to provide the necessary guarantees for the safety of the vaccine, ”he said.
The COVID-19 vaccine may be mandatory for all visitors to Australia, however.
Overseas travelers may need to produce a vaccination certificate before boarding their flight to Australia.
Travel Restrictions
While some borders are still tightly closed, domestic and international travel is expected to continue to open slowly as the pandemic subsides and vaccination begins in 2021.
The mandatory two-week segregation is still in place for foreign tourists coming to Australia and other provinces across the country, but this will decrease as cases fall.
Qantas chief executive Allan Joyce once said that covid curing drugs would be a necessity for international flights to carry the normal course of action.
“We are looking to change our terms and conditions to say that to foreign travelers, that we will ask people to be vaccinated before boarding a plane,” he told A Current Affair in November.
Job Keeper To Be Cut
JobKeeper, the economic stimulus to keep workers in jobs amid the coronavirus pandemic, will be cut on January 4, 2021 and will be axed completely on March 28, 2021.
From January 4 to March 28, 2021, pay will decrease from $ 1200 to $ 1000 for full-time employees and from $ 750 to $ 650 overnight for temporary workers, after being cut from about $ 1500 in fortnight back in September.
The JobKeeper stimulus was introduced to provide support for businesses who faced financial losses to be able to pay their employees and keep them in jobs.
JobSeeker Payments To Dampen
JobSeeker was created to support people who have suddenly lost their jobs as a result of the epidemic and have replaced Newstart Allowance.
JobSeeker Payment recipients and recipients of other eligible payments receive Coronavirus Supplement in excess of their payment limit. It was paid at an initial rate of $ 550 for two weeks until September 24. It was also increased by an average of $ 250 per night until December 31. From January 1 to March 31, the Coronavirus supplement will continue to be paid but at a rate of $ 150 per fortnight.
The Job Maker Plan
As part of the 2020–21 budget, the government has announced a new incentive for businesses to hire new job seekers called JobMaker Hiring Credit.
JobMaker Hiring Credit, administered by the Australian Taxation Office, will provide $ 200 per week to employers who hire anyone aged 16-30, and $ 100 a week to any employee aged 30-35.
Eligible employers will receive a JobMaker Hiring Credit for each new job they do within 12 months from October 7, 2020.
Employers will be able to apply quarterly on a monthly basis from February 2021.
Immigration Rules
A number of concessions will be available in 2021 for certain visa holders impacted by the COVID-19 pandemic.
The Department of Home Affairs has indicated that it will apply to certain family visa applicants who have applied for their visas outside and then came to Australia and are stuck in Australia due to the border closure.
The COVID-19 concession period commences from 1 February 2020 and is an interim arrangement.
Usually such applicants would need to be offshore in order to have their visas granted however the concession will now allow affected applicants to have their visas to be granted while they are in Australia.
Meanwhile, visa allocations for the Global Talent visa have been tripled to assist business sponsors in attracting high-calibre individuals with specialist skills to Australia with a pathway to Australian permanent residence.
Hospitality Industry
2020 has been a difficult year for hospitality, with restrictions on the number of enthusiasts allowed in bars, restaurants and fine restaurants.
The restrictions allow for the relaxation of the liquor clearance rules, allowing a large number of inns to operate while the coronavirus restrictions prevent normal trade.
However, the rules may also tighten as the restrictions loosen.
Tax Cuts
We will all be getting tax boost when we submit our tax returns by 2021.
Early tax cuts were implemented in October 2020, with a tax relief plan announced in the budget.
Workers have been receiving half of their early tax cuts in their pay, while the second lot of the tax relief will come mid-year when Aussies do their tax return.
The amount of money that employees will receive on their tax return will be the amount refunded from July 1, 2020 – which is approximately four to five months of taxable income.
Stamp Duty Cut In NSW
The NSW government has announced that the NSW stamp duty could be a thing of the past from mid-2021.
The proposed change, announced in the NSW budget, will mean that stamp duty will be replaced by the annual property tax on new property works.
Home buyers will choose between paying a single stamp duty or annual property tax.
First-time buyers will receive additional incentives with a grant amount of up to $ 25,000 under this proposed proposal instead of being exempted from stamp duty.
Change can begin from the second half of 2021.
