JobKeeper payment
5/4/2020 (Applicable to All States)
Businesses impacted by the Coronavirus will be able to access a subsidy from the Government to continue paying their employees. Affected employers will be able to claim a fortnightly payment of $1,500 per eligible employee from 30 March 2020, for a maximum period of 6 months.
Changes to social security deeming rates
25/3/2020 (Applicable to All States)
On 12 March, the Government announced a 0.5 percentage point reduction in both the upper and lower social security deeming rates. The Government will now reduce these rates by another 0.25 percentage points.
Household Support Payments
29/3/2020 (Applicable to All States)
The Government is providing two separate $750 payments to social security, veteran and other income support recipients and eligible concession cardholders.
Early Release of Superannuation
28/3/2020Â (Applicable to All States)
The Government is allowing individuals affected by the Coronavirus to access up to $10,000 of their superannuation in 2019-20 and a further $10,000 in 2020-21. Individuals will not need to pay tax on amounts released and the money they withdraw will not affect Centrelink or Veterans’ Affairs payments.
Coronavirus Supplement
29/3/2020 (Applicable to All States)
The government is establishing a new welfare payment called the Coronavirus Supplement. This will be paid at a flat rate of $550/fortnight to both existing and new recipients of eligible welfare payments.
Reduction in superannuation minimum drawdown rates
25/3/2020 (Applicable to All States)
The Government is temporarily reducing superannuation minimum drawdown requirements for account-based pensions and similar products by 50 per cent for 2019-20 and 2020-21.
Expanded access to existing income support payments
29/3/2020 (Applicable to All States)
For the period of the Coronavirus supplement, there will be expanded access to the underlying income support payments that are eligible to receive the Coronavirus Supplement.