We’ve created this page to address your frequently asked questions.

Please note, this information is provided in good faith. However, due to the rapidly changing nature of the situation, we cannot guarantee the accuracy of the information provided. The information provided is general in nature only and should not be taken as constituting professional advice. We have not considered your specific circumstances in providing this information. You should consider seeking independent legal, financial, taxation or other advice to check how the information relates to your unique circumstances. If you are a client and require such advice, please contact us.

Liability limited by a scheme approved under Professional Standards Legislation.

JobKeeper Subsidy

I am a sole trader, am I eligible for the JobKeeper Payments?

Yes, sole traders that have seen the revenue from their business affected by COVID-19 may be eligible to receive the JobKeeper payments.

What does a 30% reduction in revenue mean?

To be eligible for the scheme, businesses will have to show that they have suffered a minimum reduction in revenue of 30%. The business decline can be demonstrated from 1 March 2020. We are yet to get details on how to determine the decline in revenue under the Australian scheme. However, we understand it to mean a business has experienced a 30% decline in:

  • Actual revenue; or
  • Predicted revenue (e.g. for businesses who have seen a reduction in bookings such as accommodation providers).

How do I calculate whether my business has seen a 30% reduction in revenue?

The business decline can be demonstrated from 1 March 2020. We are yet to get details on how to determine the decline in revenue under the Australian scheme. It has however been suggested that businesses can assess their revenue by comparing one month’s revenue against the same month the previous year (example February 2020 compared to February 2019). The revenue of the month in the affected period must be at least 30% less than it was in the month it was compared against.

My business has been operating less than a year, how do I determine a decline without prior year data?

We are yet to get details on how to determine the decline in revenue under the Australian scheme.

Income support for individuals

Am I eligible for the fortnightly payments from the Government?

The Australian Government has announced the Coronavirus Supplement which is a six-month temporary fortnightly payment that will be provided to recipients of JobSeeker Payment, Parenting Payment Partnered, Parenting Payment Single, Sickness Allowance, Farm Household Allowance, Special Benefit, Widow Allowance, Partner Allowance, Youth Allowance for job seekers and students, ABSTUDY and AUSTUDY.

How much is the Coronavirus Supplement?

The temporary Coronavirus supplement is an extra $550 per fortnight to new and existing eligible income support recipients from 27 April 2020 for six months.

Do I have to do anything to get it?

No. If you are in receipt of an eligible income support payment, you will automatically receive the Coronavirus Supplement.

When will I start receiving the additional $550 per fortnight?

The Coronavirus Supplement commences on 27 April 2020.

Is the Coronavirus Supplement taxable?

Yes.

Do people have to wait until 27 April 2020 to apply for a payment?

People can apply for a payment as soon as they need it.

The expanded eligibility and qualification criteria came into effect from 25 March 2020.

If a person qualifies for a payment before 25 March 2020 and has to serve a waiting period (other than the Newly Arrived Residents Waiting Period), they will receive a payment back to the date of their claim once the waiting period is suspended.

Tax-free $750 payments to social welfare recipients

Am I eligible for the one-off $750 payments from the Government?

The Government is providing two separate $750 payments to social security, veteran and other income support recipients and eligible concession card holders. The first Economic Support Payment is for people who are receiving a qualifying payment or card between 12 March 2020 and 13 April 2020 (inclusive). The second Economic Support payment is for people receiving a qualifying payment or card on 10 July 2020 so long as they do not receive the Coronavirus Supplement with their payment.

Do I have to do anything to get the Economic Support Payment?

No, you will automatically get the $750 if you are eligible. You will only get one payment, even if you get more than one qualifying payment or card. Where Services Australia does not have bank details, they will contact eligible recipients to get these details.

Will I receive multiple Economic Support payments and if so, when?

Services Australia and the Department of Veterans’ Affairs will automatically deliver payments to eligible recipients with the first payment from 31 March 2020 and the second payment from 13 July 2020. A person can be eligible to receive both the first and second support payment, however, they will only receive $750 once in each round of payments, even if they receive more than one qualifying payment or card.

Business Investment

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Cash Flow Assistance

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Apprentice or trainee wages subsidy

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Supporting the flow of credit

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Targeted support for severely affected sector, regions and communities

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Early access of superannuation

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Providing support for retirees

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Newstart ‘sickness payment’

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