Economic Stimulus Measures
The Australian Government has announced a range of stimulus measures to address the economic effects of the COVID-19, business.gov.au has the latest updates of support available. 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.
JobKeeper: On 21 July, the Federal Government announced an extension and tapering of the JobKeeper payment. The extension means that from 28 September the rate for JobKeeper will change per the following table and the rate of wage subsidy will now vary depending on the number of hours worked:
Less than 20hrs of work
For more information click HERE
On 20 July the Government also announced an extension and expansion of the support to the flow of credit scheme which provides 50% government guarantee of loans to small and medium enterprises, find out more HERE
On 21 July, the Government announced a number of changes to the Jobseeker payment and Youth Allowance, reducing the Coronavirus supplement from $550/fortnight to $250/fortnight. This supplement is paid on top of your base rate for the Jobseeker or Youth Allowance payment. The Government have also increased the amount you can earn before it impacts your payment from $106/fortnight to $300/fortnight. These changes will apply through to the end of December 2020.
You may also be eligible for Rent Assistance.
For more information go to Services Australia 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
NSW Government Economic Response
- 1. Infrastructure pipeline – an area of demonstrated global leadership
- 2. Planning and precincts – growing world-leading industries
- 3. Education and skills – equipping our students for the jobs of the future
- 4. Digitisation – accelerating recovery
- 5. Advanced manufacturing and local supply chains – building a self-sufficient economy
- 6. Federal-state relations – the time is now for national reform
NSW Government support for Business and Individuals
NSW Government has announced a number of measures for individuals and businesses, for further information please see HERE
For more detail on Stimulus Packages for Warringah residents click HERE
Local Council Responses
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 click HERE
Mosman Council COVID-19 response click HERE
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
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