What's in the $66b second virus stimulus

THE $66B SECOND CORONVIRUS STIMULUS PLAN

SUPPORT FOR WORKERS, RETIREES AND HOUSEHOLDS

* Time-limited $550 per fortnight supplement for both existing and new recipients of the JobSeeker Payment, Youth Allowance jobseeker, Parenting Payment, Farm Household Allowance and Special Benefit.

* A further $750 payment to social security and veteran income support recipients and eligible concession card holders.

* Individuals in financial stress can access up to $10,000 tax-free of their superannuation in 2019/20 and a further $10,000 in 2020/21.

* Temporary reduction in the superannuation minimum drawdown requirements by 50 per cent for 2019/20 and 2020/21, providing retirees with more flexibility as to how they manage their superannuation assets.

* Deeming rates reduced by a further 0.25 percentage points to reflect the latest rate reductions by the Reserve Bank, making the lower deeming rate 0.25 per cent and the upper deeming rate 2.25 per cent.

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EXPANDED CASH FLOW INJECTION TO SMALL BUSINEss

* Another $25.2 billion over four years for individual $100,000 tax-free payments for businesses turning over up to $50 million a year

* The minimum payment for business will be $20,000

* The amount will be 100 per cent of tax withheld to the ATO on employees' wages

* The government hopes it will benefit 690,000 businesses and 7.8 million workers

* About 30,000 not-for-profits will also be eligible

* Adds to the $6.7 billion in payments already announced

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LOAN GUARANTEES

* Government will guarantee 50 per cent of unsecured loans taken out by small businesses in the six months starting from April 1, 2020 with banks who join the scheme

* Loans can be up to $250,000 over a three-year term

* Loans won't have repayments on them for the first six months

* Won't apply to existing customers refinancing

* Scheme is worth $20 billion, for total lending of $40 billion

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WHAT IS ALREADY ON THE TABLE FROM FIRST PACKAGE

* A $750 one-off, tax-free payment from March 31 for about 6.5 million pensioners and people on welfare

* A $1 billion tourism and trade fund for communities hurt by coronavirus flow-on effects

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FOR BUSINESS

* Expanded instant asset write-off from July 1, rising from $30,000 to $150,000 and available to businesses with an annual turnover of up to $500 million instead of $50 million

* Businesses with a turnover of less than $500 million can deduct an extra 50 per cent of asset costs in depreciation

* Small businesses with fewer than 20 employees will get up to $7000 each quarter for apprentices as a wage subsidy, equal to half the apprentice or trainee's wage from January 1 to September 30

* $90 billion from the Reserve Bank and $15 billion from the government for banks to provide low-interest loans to business

* Banks to give business affected by the coronavirus crisis a six-month holiday from loan repayments

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FOR AGED CARE

* $234.9 million for a "retention bonus" to ensure the continuity of the workforce in both residential and home care

* Direct care workers will receive payments of up to $800 after tax per quarter, for two quarters

* In-home carers will receive payments of up to $600 after tax per quarter, for two quarters

* $78.3 million in additional funding for residential care to support continuity of workforce supply

* $26.9 million for a temporary 30 per cent increase to the Residential and Home Care Viability Supplements and the Homeless Supplement

* $92.2 million to home care providers and organisations, including meals on wheels, to offer services for people in self-isolation such as shopping and meal delivery

* $12.3 million to cut call waiting times on the My Aged Care service.