Financial support is available to help you manage the affects of the coronavirus (COVID-19).
The JobKeeper Payment helps businesses to keep people in their jobs so they can earn an income, even if their hours have been cut.
Eligible businesses (including people who are self-employed) can access $1,000 a fortnight from 4 January to 28 March 2021 to pay eligible employees (or $650 a fortnight if they worked less than 20 hours a week).
Your employer will notify you if you're receiving the JobKeeper Payment. Most employees won't need to do anything, except:
- if you have multiple employers, you must notify your employer who is your primary employer
- if you're not an Australian citizen, you must notify your employer of your visa status so they can check you're eligible
- if you're currently receiving an income support payment, you must notify Services Australia of your new income
For information on eligibility and how businesses can apply, visit The Treasury website.
JobSeeker and other income support payments
You'll receive a fortnightly $150 coronavirus supplement until 31 March 2021 if you’re getting:
- JobSeeker Payment
- Partner Allowance
- Widow Allowance
- Sickness Allowance
- Youth Allowance
- ABSTUDY Living Allowance
- Parenting Payment
- Farm Household Allowance
- Special Benefit
During this period, JobSeeker recipients will also be able to earn up to $300 a fortnight before it reduces their payments.
You can also apply for a crisis payment if you need to self-isolate, are in severe financial hardship and you can get an income support payment.
For more information, visit the Services Australia website.
Economic support payments
If you get an eligible Centrelink payment or concession card, you may receive two payments of $250 as part of the COVID-19 stimulus. The first payment is due from December 2020. The second payment in March 2021.
The Services Australia website has more information.
Reduced drawdown and deeming rates for retirees
Drawdown rate for account-based pensions
If you have an account-based pension or a similar product, reduced drawdown rates will apply for 2019-20 and 2020-21. This will reduce your need to sell investment assets to fund minimum drawdown requirements.
Find the reduced drawdown rates for account-based pensions.
Deeming rates for the Age Pension and income support
From 1 May 2020, the upper deeming rate will be 2.25 per cent and the lower deeming rate will be 0.25 per cent.
For more information visit The Treasury website.
HomeBuilder gives eligible owner-occupiers, including first home buyers, a grant to build a new home or substantially renovate an existing home.
HomeBuilder grants include:
- a $25,000 grant for building contracts signed between 4 June and 31 December 2020
- a $15,000 grant for building contracts signed between 1 January and 31 March 2021
Construction must start within 6 months of signing the contract.
For information on eligibility and how to apply, visit The Treasury website.
COVID-19 support in your state or territory
Your state or territory government can also help you find support during the coronavirus (COVID-19) pandemic.
Australian Capital Territory
New South Wales
Financial support for businesses
To help financially distressed businesses, the Government will:
- provide up to $100,000 to eligible small and medium-sized businesses, and not for-profits that employ people
- provide JobKeeper Payments to keep paying eligible employees and people who are self-employed
- provide temporary relief for financially distressed businesses
- increase the instant asset write-off to $150,000
- provide a 15-month business investment incentive
- subsidise up to 50 per cent of apprentice and trainee wages for 9 months
For more information and other financial support in your state or territory, visit business.gov.au
Emergency, crisis and legal support
There are free services to help you with food, housing and bills. See urgent help with money.
You can access to free legal advice and support if you need it: