Crisis Payment for National Health Emergency (COVID-19)
This is a one-off payment for those who have been affected by COVID-19. In order to be eligible for this payment, you must:
be eligible for an income support payment or ABSTUDY Living Allowance
be in severe financial hardship
be in Australia when you claim
have proof of a COVID-19 test requiring you, or the person you are caring for, to enter quarantine or self-isolation.
You will only be able to receive one payment per quarantine or self-isolation. The payment you will receive will be equal to one week’s pay at the basic maximum rate of your income support payment or ABSTUDY Living Allowance.
If you are not eligible for any other income support from the Commonwealth Government, you may be able to access the Special Benefit payment if you are suffering from financial hardship beyond your control.
Reduction of the Minimum Superannuation Drawdown Requirements for Retirees
On 29 May 2021, the Commonwealth Government announced an extension to the temporary reduction in superannuation minimum drawdown rates. This is an extension on the measure that was introduced in 2020 as part of the government’s response to COVID-19 which was in place for the 2019-20 and 2020-21 financial years.
This means that you will be able to continue to make use of of the 50% temporary drawdown reduction until Thursday 30 June 2022.
Reduction of the Social Security Deeming Rates for Retirees
Deeming refers to a set of rules that measures your income against your financial assets to determine how much income support you can receive from the Government.
The Morrison Government has retained lower deeming rates for the 2021-22 financial year, while increasing the asset thresholds where they apply. These lower deeming rates were brought in during 2020 to help Australian retirees through the COVID-19 crisis.
The Australian Red Cross is providing financial relief to people in NSW suffering from hardship that require urgent needs to be met.
This relief is restricted to temporary/provisional visa holders or undocumented migrants who are unable to access Commonwealth Government income support and have zero (or very little) income, savings, and community support.