Small Business owners who have been forced to shut, or have seen their income reduce to below $1,075 a fortnight, should have access to the Centrelink Coronavirus Supplement.
What is the Coronavirus Supplement?
It's an additional top-up payment for people on welfare.
How much is the Coronavirus Supplement?
It is worth $550 a fortnight ($275 a week). It means the Job Seeker Payment, which used to be known as New start,will effectively double.
Who is eligible for the Coronavirus Supplement?
It goes to anyone receiving:
· Job Seeker Payment (formerly known as the New start Allowance)
· Other Centrelink Payments & Allowances
Are small business owners and casual workers eligible?
Yes — if they suddenly find themselves earning less than $1,075 a fortnight.
The Government has temporarily waived the assets tests and waived the waiting period but there is still the income test so if you earn $1,075 a fortnight you will get that full$550 Coronavirus Supplement.
This is good news for a small business owners who are still in work but have seen their income reduce.
How to claim the Coronavirus Supplement
If you're not currently receiving welfare, you'll need to apply.
Remember, the Government has temporarily expanded eligibility for the Job Seeker and Youth Allowance payments, meaning you may be eligible if you're:
· A permanent employee who has been stood down or lost your job
· A sole trader, self-employed, a casual or contract worker whose income has reduced
· Caring for someone who's affected by coronavirus
Income testing will still apply but if you're earning less than $1,075 a fortnight, Centrelink should approve your claim, meaning you would get the supplement.
When does it start?
Payments will begin on April 27 and will be available for at least six months.