Work with your property agent to ensure your tenants have accessed all relevant programs in their state – See below
If the following steps are unsuccessful you may be able to claim on your landlord cover insurance if you have a policy in place.
Update 22nd March: The Prime Minister has announced a second-stage $66 billion stimulus package. The details of which are covered below.
Welfare recipients
Australians receiving benefit payments will receive a $750 cash payment from the government. This includes Australians receiving Newstart, Family Tax Benefit, a pension or social security payment as well as veterans and those with concession cards. The payment will be applied automatically to those eligible from as soon as 31 March, with the majority of payments sent out by mid-April.
A second stimulus package
announced some welfare recipients will also receive another $750 payment on July 13. Also, the Jobseeker Payment will temporarily be doubled, providing people with an extra $550 a fortnight. The payment will be available to sole traders and casual workers, provided they meet income tests.
Almost 700,000 Australian businesses will also be eligible for a one-off grant between $2,000 and $25,000. Eligible businesses will be those with an annual turnover of up to $50 million which pay staff. These businesses will be eligible to receive grants of up to 50 per cent of their Business Activity Statement or Instalment Activity Statement, up to the value of $25,000. The payment will be tax free. If the business doesn’t withhold tax on staff wages, they’ll still be eligible for a cash payment of at least $2,000. These grants will be applied automatically to eligible businesses based on the Business Activity Statements submitted in April.
In further measures announced in the second Government stimulus package, small businesses will receive cash payments up to $100,000. The government are also guaranteeing unsecured small business loans up to $250,000.
Tradespeople and apprentices
The government will help pay the wages of Australian apprentices, in a bid to keep young people in a job. As part of the package, $1.3 billion will be sent to businesses with less than 20 staff to help subsidise apprentice wages. Employers can apply for this wage subsidy, and if eligible, the government will pay up to 50% of their apprentice’s or trainee’s wages for up to 9 months. This will help both small businesses remain open and operating, while also keep young people working.
Access to superannuation
The Government will allow people to access up to $10,000 from their superannuation. There will be no tax charged on the money they access.
There will also be a temporary 50-per-cent reduction in superannuation minimum drawdown requirements for account-based pensions in
2019-20 and 2020-21.
Casual workers
There are two payments they might be eligible for: The JobSeeker payment and the Coronavirus Supplement.
The JobSeeker payment – formerly known as Newstart – is for those who are unemployed or do not have enough work.
The JobSeeker payment pays $565.70/fortnight.
Waiting periods and assets tests has been waived (which means they can still have savings). they will also only have to apply for 4 jobs per month.
The Coronavirus Supplement is an additional top-up payment of $550 a fortnight for those on welfare. It’s available to those on JobSeeker, Youth Allowance, Austudy, plus more. It will be applied automatically if they are eligible.
The Coronavirus Supplement will begin on April 27 and will be available for at least 6 months.
That means that if they have lost their job as a result of coronavirus, they might be eligible for payments of $1100 a fortnight through both of these payments.
If they lose their job or their shifts get reduced as a result of coronavirus, they have a few options.
They might be eligible for welfare payments
If they lost your job then you might be eligible for the government’s new JobSeeker payment.
From 20 March 2020 JobSeeker Payment is being introduced as the main payment for working-age Australians. They can get this payment if they’re without a job and are currently looking for work. This replaces what we currently know as Youth Allowance and Newstart.
On top of that, the federal government is providing a temporary coronavirus supplement of $550 a fortnight to current and future Australians on certain welfare benefits, including those on the following payments: Jobseeker, Youth Allowance, Austudy, Sickness Allowance, Parenting Payment, Partner Allowance, and Farm Household Allowance.
Centrelink has put together a quiz that lets you quickly see all potential payments and benefits that you might be eligible for.
Centrelink support
VIC, ACT and NT stimulus packages
Stimulus packages for VIC, ACT and the NT are yet to be formally announced, but we’ll update this guide with the details when we have them.
These government stimulus packages are primarily designed to boost construction, give businesses tax relief and help support at-risk businesses in the hospitality and tourism sector.
NSW stimulus package details
The NSW government has announced a $2.3 billion stimulus package, with a big focus on increased funding for the health sector and tax relief for local businesses.
$1.6 billion to provide tax relief for businesses and keep people in jobs
Waiving payroll tax for businesses with payrolls of up to $10 million until the end of the financial year (30 June 2020)
$250 million to employ more cleaners for public transport, public spaces and schools
$750 million to speed up maintenance plans for public buildings and capital works projects, keeping more people working
$80 million will be used to waive some fees and charges for restaurants, cafes and bars (it’s not yet clear which fees will be waived)
QLD stimulus package details
The QLD government has announced a stimulus package with a focus on providing tax relief for small businesses.
$27 million+ to help waive fees and charges for cafes, restaurants, bars and tourism companies
Waiving payroll tax for all QLD businesses for six months, backdated to 1 February 2020
$1 million for increased student support services
$500 million will go towards funding 12-month interest free loans of up to $250,000 for QLD businesses
WA stimulus package details
The WA government has declared the state to be in a state of emergency and announced a $607 million stimulus package.
$402 million will go towards freezing household bills and charges until 30 June 2021. This means that WA households will still need to pay these bills, but the cost will not rise with inflation at all for one year. Included in this scheme are electricity, gas and water bills, car registration and licensing and public transport fares.
$91 million to be spent increasing the Emergency Assistance Program (EAP) from $300 to $600 for those in need (including pensioners).
$114 million will be spent giving WA businesses with a payroll between $1 million and $4 million a one-off, $17,500 grant
Waiving payroll tax for WA businesses which pay less than $7.5 million in taxable wages until 21 July 2020
20 days paid sick leave for casual and full time workers in the public health sector who are impacted by COVID-19 (this includes if you get the virus yourself or need to self-isolate)
TAS stimulus package details
The TAS government has announced a $420 million stimulus package to help small businesses and workers forced to self-isolate.
$2 million in health support for GPs and pharmacies
One-off payments of $250 for casual and low-income workers who are forced to self-isolate, and $1000 for families
$1 million for front line health and medical workers to help fund accommodation when needed (e.g.: if family members are sick)
$1 million towards grants for mental health organisations, as these organisations experience increased demand
Hospitality, seafood, exports and tourism businesses will be able to apply for interest-free loans, and they’ll also be able to apply for their payroll tax to be waived for four months
The government will bring forward $50 million worth of maintenance work on public buildings
SA stimulus package details
The SA government announced a $350 million stimulus package that was largely focused on keeping the construction industry going. The money will fund safety and maintenance upgrades to health facilities and aged-care centres, as well as public buildings, roads and eco-tourism initiatives. The details of the specific projects and hoe these contracts will be awarded are yet to be revealed.
