Changes to Covid-19 Support

The Government has announced extensions to the Covid-19 support packages for Jobkeeper and Jobseeker for qualified businesses and individuals.  The Jobkeeper support will move to a 2 tier reduction in payments model after September 2020, which will require business to justify their reduction in GST turnover to qualify.  Jobkeeper will also provide a reduced payment for casual employees who work less than 20 hours per week.

For Jobseeker recipients,  the extra amount paid due to Covid-19 is being reduced after September to $250 per fortnight bringing the total payment down from $1,115 to $815.  Recipients will be allowed to earn up to $300 per fortnight before the payment is affected.

Further details are available on the ATO’s website.

Covid-19

If you’re suffering hardship due to the effects of the COVID-19 pandemic virus, the banks are offering various levels of support for their customers.  Before you contact them, talk to us, as there may be other options open to you.  We’re here and happy to help!

If you need financial assistance visit the ATO’s website to explore the COVID-19 options the Australian Government is offering.

Need help in managing your finances?

Here is a great collection of financial calculators which can help you make the difference in managing your money and finances.  Broadly, they cover money management, debt reduction, future planning and wealth creation/growth.  This links to a government developed website so you don’t have to worry about their effectiveness!  

Click on: MONEYSMART