Powered by momentummedia
nestegg logo
Powered by momentummedia
nestegg logo
nestegg logo

Earn

Government confirms stimulus end at 80% jab rate

  • September 29 2021
  • Share

Earn

Government confirms stimulus end at 80% jab rate

By Maja Garaca Djurdjevic
September 29 2021

The government will begin tapering stimulus help once states reach vaccination targets.

vaccine

Government confirms stimulus end at 80% jab rate

author image
  • September 29 2021
  • Share

The government will begin tapering stimulus help once states reach vaccination targets.

vaccine

The Treasurer has announced significant, impending changes for around 2 million Australians currently receiving the temporary COVID-19 Disaster Payment.

According to Josh Frydenberg, once a state or territory hits the 70 per cent full vaccination target, individuals will have to reapply each week that a Commonwealth hotspot remains in place to confirm their eligibility.

Once that rate rises to 80 per cent, the temporary payment will step down over a period of two weeks before ending.

Advertisement
Advertisement

Since the start of the pandemic, the economic support bill has climbed to $291 billion. 

Currently, under the payment, eligible recipients pocket $750 per week if they have lost over 20 hours of work, $450 per week if they have lost between eight and 20 hours, and $200 per week for those on income support payments who lost over eight hours of work.

Moving forward, the federal cabinet decided on Tuesday the payment will begin to taper in the first week after a state or territory has reached 80 per cent vaccination, with a flat payment of $450 for those who have lost more than eight hours of work, while those on income support will receive $100.

In the second week, the payment will be brought into line with JobSeeker at $320 for the week for those who have lost more than eight hours of work, while the payment will end for those on income support.

As for those that haven’t already returned to the workforce following the end of the temporary payment as the economy opens up, the Treasurer confirmed the social security system will support eligible individuals back into work.

The Pandemic Leave Disaster Payment will remain in place until 30 June 2022.

Government confirms stimulus end at 80% jab rate
vaccine
nestegg logo

Forward this article to a friend. Follow us on Linkedin. Join us on Facebook. Find us on Twitter for the latest updates
Rate the article

About the author

author image

Maja Garaca Djurdjevic is the editor of nestegg and Smart Property Investment. Email Maja at [email protected]

About the author

author image
Maja Garaca Djurdjevic

Maja Garaca Djurdjevic is the editor of nestegg and Smart Property Investment. Email Maja at [email protected]

More articles

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.