Stimulus Payments to Households and Income Support Recipients
Stimulus Payments to Households and Income Support Recipients
Stimulus payments to households and Income Support Recipients
Stimulus payments to households
Also provided a part of Stimulus payments to households and Income Support Recipients Package is the payment of the first economic support payment of $750 to approximately 6.6 million Social Security and Veterans’ income support recipients, Farm Household Allowance recipients, Family Tax Benefit recipients and holders of a Pensioner Concession Card, Commonwealth Seniors Health Card or Commonwealth Gold Card.
There will also be a second economic support payment of $750 to the above people who receive a qualifying payment or hold a qualifying concession card on 10 July 2020. This second payment will not be paid to a person who receives, on 10 July 2020, the new Coronavirus supplement detailed below.
Additional supplement for income support recipients
Stimulus payments to households and Income Support Recipients Package also amends the Social Security legislation to provide financial assistance to people who are
affected by the COVID-19 crisis. Australians can claim Jobseeker payment or Youth Allowance (other) if they are an Australian resident (or exempt from the residence requirements) and satisfy the requirements outlined in a legislative instrument. If qualified, a person receives the current rate of Jobseeker payment or Youth Allowance (other) along with a fortnightly supplement of $550 or such other amount determined by legislative instrument. The supplement is also available to existing recipients of Jobseeker payment, Youth Allowance (other), Parenting Payment, Special Benefit, and the Farm Household Allowance. The Minister for Families and Social Services may extend the supplement to other social security payments by legislative instrument should a need arise. The supplement is available for an initial six month period, commencing on 27 April 2020. The Minister for Families and Social Services may also extend the six-month period and extend the supplement to other social security payments, depending on how the current crisis unfolds. Recipients of Jobseeker payment or Youth Allowance (other) (which includes new and existing recipients) and Parenting Payment are also exempt from the assets test, liquid assets waiting period, ordinary waiting period, newly arrived resident’s waiting period and seasonal worker preclusion periods. The exemption from the newly arrived resident’s waiting period also applies to special benefit. The supplement and exemptions also apply to recipients of the Farm Household Allowance. Note that the date of effect for these measures is 27 April.
All information above was sourced from the Australian Treasury
Please contact us if you need any help understanding Stimulus payments to households and Income Support Recipients.
