Invest
COVID-19 Disaster Payment boosted; JobSeeker recipients to receive additional help
Invest
COVID-19 Disaster Payment boosted; JobSeeker recipients to receive additional help
The federal government is providing further support to individuals impacted by the NSW lockdown, which was prolonged by four weeks on Wednesday morning.
COVID-19 Disaster Payment boosted; JobSeeker recipients to receive additional help
The federal government is providing further support to individuals impacted by the NSW lockdown, which was prolonged by four weeks on Wednesday morning.
Prime Minister Scott Morrison has announced that the COVID-19 Disaster Payment will be further expanded and increased to assist individuals in the Greater Sydney area.
As of next week, the COVID-19 Disaster Payment will be boosted from $600 to $700 each week if a person has lost 20 hours or more of work a week or $375 to $450 each week if a person has lost between eight and 20 hours of work.
Additionally, individuals receiving JobSeeker will get a $200 boost per week, if they have lost more than eight hours per week.
“In the case of somebody who is on a full JobSeeker rate, they are getting just over about $315 a week. So, that $200 comes on top of that,” Mr Morrison said, adding that the additional payment will be paid from week 1 of the lockdown.
Both governments have also agreed to expand the COVID-19 Business Support Payment.
Under the expanded payment, eligible entities, which includes not-for-profits, will now receive payments of between $1,500 and $100,000 per week based on the level of their payroll, with the maximum turnover threshold increased from $50 million to $250 million.
The payment will continue to be calculated based on 40 per cent of payroll for businesses that have suffered a 30 per cent or more decline in turnover.
For non-employing businesses, such as sole traders, the payment will remain set at $1,000 per week.
The expanded payment will now cover more than 400,000 businesses employing 3.3 million workers in NSW, subject to eligibility.
According to Mr Morrison, the expanded payment will take effect from 18 July 2021, the start of the program. Businesses that have already submitted an application will not need to do anything; their payment will be automatically adjusted consistent with the expanded program.
More to come.
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