The Government is providing financial assistance to Australians to support them through the economic impact of the Coronavirus.
On 21 July, the Government announced it is extending the JobKeeper Payment until 28 March 2021 and is targeting support to those businesses and not-for-profits who continue to be significantly impacted by the Coronavirus.
In addition, the Government is extending the payment period and adjusting the amount of its temporary Coronavirus Supplement for eligible income support recipients from 25 September 2020 to 31 December 2020.
The Government is temporarily allowing individuals affected by the Coronavirus to access some of their superannuation, extending access to 31 December 2020.
Eligible pensioners, seniors, carers and student payment recipients will receive two separate $750 Economic Support payments.
Retirees whose savings are being affected by financial market volatility can take advantage of a temporary reduction in minimum superannuation drawdown requirements.
Social security deeming rates are also being reduced in recognition of the impact of low interest rates on retiree savings.