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Employees who have had their hours of work reduced due to compulsory COVID-19 lockdown restrictions will be entitled to a non-taxable COVID-19 Disaster Payments.
This weekly payment is available for each eligible person and will vary depending on the number of hours lost. It has recently been announced that the following payment rates will apply to all payments processed in the week commencing 2 August 2021.
Please note that for Greater Sydney and all other areas of NSW the higher payment will apply from 8 August.
Currently most areas in lockdown will receive up to $375 or $600 per week up to 30 July depending on the number of hours lost.
To be eligible for the payment you must have lost income and not be entitled to any employer leave entitlements such as pandemic sick leave, personal leave or leave to care for another person. In addition, your client must:
Income support payment recipients will receive an extra weekly payment of $200 if they have lost more than 8 hours of work and meet eligibility requirements for the COVID-19 Disaster Payment. Income support payments include ‘social security benefits’ as well as ‘social security payments’ as defined in s23 Social Security Act 1991. Common examples include Jobseeker Payment, Widow Allowance, Age Pension, Disability Pension, Carer Pension.
A taxable lump sum payment of $1,500 is available to individuals who cannot work due to self-isolation or quarantine obligations relating to COVID-19 compulsory lockdown restrictions or who cannot work due to caring for someone with COVID-19.
This taxable lump sum payment is available for each compulsory 14-day period of self-isolation or quarantine or care period for someone with COVID-19.
Eligible clients include those who have been instructed not to work by a health official for any of the following reasons. Namely, if your client:
To receive the Pandemic Leave Disaster Payment your client must:
See Services Australia – Pandemic Leave Disaster Payment for more details on specific state based eligibility requirements namely the quarantine period which can vary from state to state.
There are many state specific schemes to assist clients impacted by COVID-19 restrictions. To find out more about assistance specific to each state please visit state-specific Government websites:
If you have any questions, or would like more information, please contact the IOOF TechConnect team on 1300 650 414.
The information in this section of the website is intended for financial advisers only and is not to be distributed to clients. It has been prepared on behalf of Australian Executor Trustees Limited ABN 84 007 869 794 AFSL 240023, IOOF Investment Management Limited ABN 53 006 695 021 AFSL 230524, IOOF Investment Services Ltd ABN 80 007 350 405, AFSL 230703 and IOOF Ltd ABN 21 087 649 625 AFSL 230522 based on information that is believed to be accurate and reliable at the time of publication.