Federal Government's Stimulus Package
On 30 March, the Federal Government announced $130 billion Job Keeper payment. For more information click HERE
The Australian Government has announced its stimulus package to address the economic effects of the COVID-19. The package is a measure that we hope will help constituents and businesses in Warringah get through this difficult time. Of particular note, small businesses, tradespeople and social welfare recipients (including pensioners) will benefit.
The Government will be providing up to $100,000 for eligible small and medium sized businesses and non for profits that employ people. The payment will be delivered by the ATO as an automatic credit in the activity statement system from 28 April 2020 upon employers lodging eligible upcoming activity statements.
Find out more HERE
Getting early access to your superannuation
You can gain early access up to $10,000 of your superannuation in 2019-20 and a further $10,000 in 2020-21. Find out more HERE
Changes to Services Australia
Services Australia and Centrelink announced a number of changes to payments. Newstart has been replaced with JobSeeker, while a number of other payments have also changed.
JobSeeker Payment started on 20 March 2020. It’s the main income support payment if you’re between 22 and Age Pension age.
When JobSeeker Payment started, other payments stopped or closed to new claims. The payments affected are:
- Newstart Allowance
- Sickness Allowance
- Wife Pension
- Widow B Pension
- Bereavement Allowance.
You may also be eligible for Rent Assistance.
For more information go to Services Australia HERE
NSW Government Economic Response
NSW Government support for Business
On 3 March, the NSW government announced $10,000 grants to provide fast relief for NSW businesses. To find out more click HERE
On 27 March the NSW government offered its second Stimulus Package and Rent Relief
Here are the details of the NSW second round of stimulus for the website and any constituent inquiries.
Key measures include:
- The creation of a $1 billion Working for NSW fund to sustain business, create new jobs and retrain employees. The fund is already being put in to action with 1000 new staff for Service NSW announced this week to be funded by the program. The Working for NSW fund will comprise $750 million in new funding and $250 million announced last week for additional cleaning services
- Deferral of payroll tax for business with payrolls over $10 million for six months (up to $4 billion deferred). Businesses with payrolls of $10 million or less received a three-month waiver on payroll tax in the first package. These businesses will now get an additional three month deferral as well
- Deferral of gaming tax for clubs, pubs and hotels, and lotteries tax for six months, conditional on these funds being used to retain staff. This improves liquidity and helps these businesses stay afloat
- Deferral of the parking space levy for six months
- Deferral of rents for six months for commercial tenants with less than 20 employees in all Government-owned properties.
NSW Government helping most vulnerable
- $34 million boost in funding to prevent homelessness
- $30 million to boost the Energy Accounts Payments Assistance scheme
- $10 million to support charities and $6 million additional funding for Lifeline’s operations in NSW.
For more detail on Stimulus Packages for Warringah residents click HERE
Northern Beaches Council response to COVID-19
- Business support plan HERE
- Community Support package is HERE
- For more Information on what the Northern Beaches Council is doing click HERE
North Sydney Council COVID-19 response https://www.northsydney.nsw.gov.au/Council_Meetings/Council_News/Latest_News/Updates_on_COVID-19_coronavirus
Mosman Council COVID-19 response https://www.mosman.nsw.gov.au/news/2020/03/18/councils-response-to-covid-19
Financial help from your Bank
Australian banks have hardship teams ready to help you, depending on your circumstances.
Assistance could include:
- deferring loan payments,
- waiving fees and charges,
- helping with debt consolidation,
- waiving penalties for early withdrawal of a term deposit or
- deferring upcoming credit card payments and increasing emergency limits
The Australian Banking Association has more information HERE