Business
How Australians spent their one-off $750 Federal government coronavirus stimulus payments – ABC News
It was designed to get Australians spending at the beginning of the coronavirus pandemic, but the Federal Government’s one-off $750 stimulus payment was put aside as savings by millions who received it.
Nearly a third of people who received the Federal Government’s first COVID-19 stimulus payments saved the money, Australian Bureau of Statistics (ABS) data shows.
Key points:
- The survey of 2,600 people was conducted between May 10 and 23
- It revealed NSW residents were more likely to use the money to pay bills
- Of those aged over 65 who received the money, 45 per cent added to their savings
The one-off $750 payment was made in March to about 6.5 million Austr…
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