Are you eligible for receiving the latest stimulus package?
The Australian government has introduced a stimulus package including two $750 payments for eligible residents, starting from March 31, in response to the economic challenges posed by COVID-19. Additionally, early access to superannuation is available for those who meet certain conditions related to unemployment or significant business impacts
two payments
Australia's economic stimulus includes two $750 payments for eligible residents, starting March 31 and July 13, to support those affected by COVID-19.
Every fortnight
Beneficiaries receiving the Coronavirus Supplement will get $550 per fortnight from April 27 for at least six months, excluding them from the July $750 payment.
Neither a citizen nor resident
Non-residents and non-citizens should monitor updates on welfare benefits, now extended to students and apprentices.
In response to the COVID-19 crisis we are facing today, the government of Australia has made a recent decision to release stimulus package to boost the crippling economy.
The Parliament of South Australia have outlined the details for the part-payments, eligibility criteria and date of payments.
The first part of economic stimulus package amounting to $750 will be given from 31 March. Residents who made eligible payments from 12 March 2020 – 13 April 2020 under the following categories are entitled for the said amount:
- social security income support payments
- family assistance payments
- veteran’s payments
- concession and health cards
Australia’s $750 stimulus payments start March 31 for eligible social security and assistance recipients. Second payment on July 13.
Early superannuation access available from April 20 for those meeting specific COVID-19 related conditions.
Meanwhile, non-residents and non-citizens are advised to keep updated on the possible extension of welfare benefits after it has been granted to students and apprentices.
In addition on the approval of stimulus, the Australian Taxation Office has announced early access of superannuation following certain conditions. Individuals who can claim the early release should meet the following requirements:
- unemployed
- eligible to receive the following type of payments: job seeker, youth allowance, parenting, special benefit or farm household
- From 1 January onward,
- your working hours were reduced by 20% and above
- your business was suspended or had a turnover reduction of 20% or more (sole trader)
Applications for early superannuation will be accepted starting from 20 April through logging in at myGov account. Click on the link for procedures: Early Access to Your Super
Visit the following websites for further information:
Economic Response to Coronavirus-Social Security Measures Part 2: $730 lump sump payments
