There are essentially two types of Centrelink loans available and multiple options within these two…
Learn about the different financial assistance available to help families, individuals and businesses. Those who have had their financial circumstances impacted by Covid have different options available based on circumstances.
Below is information on both government stimulus measures and other potential assistance measures including bank assistance and low income loan options.
This is a government initiative to help businesses keep employees in a job, even if the amount of work has reduced. The initial program had a end date of September 27th, however the government has stated it will be extended although eligibility for the program has changed.
To learn more about JobKeeper, please visit here.
JobSeeker and Other Supplements
Jobseeker is a payment to workers stood down from their job or for self employed Australians who are unable to trade and meet the income test as a result of the economic downturn because of Covid.
The financial supplement is available to those on the following:
ABSTUDY Living Allowance
Farm Household Allowance
Similar to other stimulus measures, its availability from its initial eligibility will change on Sept 24th with lower payments and different approval criteria.
To learn more about JobSeeker, please visit here.
The $10,000 Early Superannuation Access
Eligible Australians have the ability to draw down on their Super up to $10,000 until Dec 31st 2020. To qualify you must provide proof of circumstances to do so.
To learn more about accessing Super, please visit here.
Possible Bank Support
Most banks around the country are providing financial assistance and leeway to current customers. This can include a reduction in repayment amounts and/or moratorium/deferment. For those struggling with finances and unable to make loan repayments, in full or partial, reach out to your lender(s) to see what hardship assistance is available.
Low Income Financial Help & Loans
In addition to the different government stimulus measures, there are other organisations providing assistance to those impacted by Covid. This can include specialist lenders, non-for-profits and charities. Learn more about different options including no interest loans to help with essential household needs and bills – get details here.