Today we would like to chat to you about the recent announcement from the Australian Government regarding a temporary COVID disaster payment.
This is a one off payment aimed at workers that are undergoing lockdown for more than seven days and reside or work in an area defined as a Commonwealth-determined hotspot
To be eligible for the COVID disaster payment, workers must be:
- aged 17 and over
- employed prior to lockdown
- unable to work from home or place of business
Workers are not expected to use their annual leave entitlements, but must have used all other leave entitlements available to them by their employer. An example is if you are entitled to Special Pandemic sick leave.
You are NOT eligible if:
- You are currently receiving income support payment, pandemic payment or jobseeker.
- You have liquid assets of more than $10,000 (this includes money in your bank account).
How much is the COVID disaster payment?
If you are unable to work due to lockdown restrictions and normally work more than 20 hours per week, you may be eligible for the payment of $500 per week.
Or if you normally work less than 20 hours per week and are unable to work due to the lockdown, you may be eligible for the payment of $325 per week.
You cannot get this payment for the first 7 days of lockdown.
This payment is a taxable payment, which means you will need to declare it in your 2021 Income Tax Return!
How to apply:
Australian residents will need to apply through their MyGov account – login here!
Eligible visa holders will need to contact Services Australia on 180 22 66 to lodge your claim.
Payments will be delivered directly to successful applicants through Services Australia.
If you have any questions, please contact our office on (03) 9762 7344
We wish you all the best during this time.
The Team @ Knox Taxation and Business Advisory