Partnership with YOUR FINANCIAL ENTITLEMENTS DURING COVID19 Presented

  • Slides: 25
Download presentation
Partnership with YOUR FINANCIAL ENTITLEMENTS DURING COVID-19 Presented by : Amanda Ghouse, Financial Wellbeing

Partnership with YOUR FINANCIAL ENTITLEMENTS DURING COVID-19 Presented by : Amanda Ghouse, Financial Wellbeing Worker at Midlas in partnership with the Shire of Mundaring

ACKNOWLEDGEMENT TO COUNTRY

ACKNOWLEDGEMENT TO COUNTRY

INTRODUCTION

INTRODUCTION

HOUSEKEEPING • Webinar Duration • Content Series of webinars • How to ask questions?

HOUSEKEEPING • Webinar Duration • Content Series of webinars • How to ask questions? • Parking Lot • Recorded session The Host’s of this webinar do not work for Centrelink and aim to spread general awareness and provide factual information as found in Centrelink website and the government owned Money Smart website.

WEBINAR TOPICS • The latest finance news • Jobseeker and Jobkeeper Payments • Other

WEBINAR TOPICS • The latest finance news • Jobseeker and Jobkeeper Payments • Other payments and supplements • Residential Tenancy Assistance • Small Business Relief Package • Banks, Utilities and Telco Providers • Accessing your Superannuation • Resources • Q and A

LATEST COVID-19 FINANCE UPDATE • Western Australia is in a State of Emergency •

LATEST COVID-19 FINANCE UPDATE • Western Australia is in a State of Emergency • Free child care comes to an end 12 th July • $48. 1 million in funding for the National Mental Health and Wellbeing Pandemic Response Plan • COVIDSafe app • Support for immediate cash flow needs for Small Medium Enterprises (SMEs) • State government is placing a freeze on all household tariffs, fees and charges 2020/21

JOBSEEKER PAYMENT • Jobseeker has replaced Newstart • Coronavirus supplement paid at a rate

JOBSEEKER PAYMENT • Jobseeker has replaced Newstart • Coronavirus supplement paid at a rate of $550 per fortnight on top of the base rate • Eligible people must be between 22 years of age to Pension Age • Youth Allowance is available if you are 24 or younger and a student or Australian Apprentice, or 21 or younger looking for work. • You do not have to fulfil your obligations to seek employment or uphold appointments with your Job Provider during this time • Those already receiving Centrelink will automatically be transferred across • Changes have been made to the means testing criteria, partner can earn (wages/salary only) up to $3068. 80 per fortnight or $79, 788. 80 per year.

ECONOMIC SUPPORT PAYMENT • Two lump sum payments $750 each; first payment has been

ECONOMIC SUPPORT PAYMENT • Two lump sum payments $750 each; first payment has been made to eligible persons • Second payment will start to be processed from 13 th July 2020 onwards for eligible persons

PAYMENTS AND SUPPLEMENTS EXAMPLES Leonie - could get the Corona supplement Mid-30’s, two dependent

PAYMENTS AND SUPPLEMENTS EXAMPLES Leonie - could get the Corona supplement Mid-30’s, two dependent children aged 10 and 12, lost her job as a travel agent before 1 st March 2020.

PAYMENTS AND SUPPLEMENTS EXAMPLES Patrick – will not receive the supplement but will receive

PAYMENTS AND SUPPLEMENTS EXAMPLES Patrick – will not receive the supplement but will receive an extra economic payment 50 -year-old man currently receiving a Disability Support Pension. His wife is receiving a Carer Payment and they have two children aged 10 and 15

CENTRELINK AND DEBT RECOVERY • All new debt recovery action suspended for 6 months

CENTRELINK AND DEBT RECOVERY • All new debt recovery action suspended for 6 months from 3 April 2020. Existing payment arrangements will not be stopped but you can call Centrelink and ask for repayments to be put on hold during this time. • Debt recovery line: 1800 076 072 • Indigenous Debt Recovery line: 1800 138 193 X

JOB KEEPE R PAYM EN T COVID-19 ME AS UR E – C OM

JOB KEEPE R PAYM EN T COVID-19 ME AS UR E – C OM MENC ED 30 MARC H 2020 EMPLOYEES: • If you are an employee and your employer is eligible, you will be notified by your employer • Employees will receive $1500 per fortnight • Employees will be able to receive this payment in several different ways: o If your employer pays you $1, 500 or more in income per fortnight before tax o If your employer would otherwise pay you less than $1, 500 in income per fortnight before tax, your employer must pay you, at a minimum, $1, 500 per fortnight before tax. o If you have been stood down, your employer must pay you, at a minimum, $1, 500 per fortnight before tax. EMPLOYERS: Must enrol by the 31 st May, 2020 6 month subsidy of $1, 500 per fortnight paid to ‘eligible employers’ who must pay at least $1500 per fortnight to ‘eligible employees’ Detailed information - - https: //www. ato. gov. au/general/jobkeeper-payment/employers/your-eligible-

JOBKEEPER PAYMENT EXAMPLES Example: Employer with a part-time employee getting paid less than $1500

JOBKEEPER PAYMENT EXAMPLES Example: Employer with a part-time employee getting paid less than $1500 per fortnight. Example: Employer with five full time employees who all currently get paid more than $1, 500 per fortnight.

RESIDENTIAL TENANCY ASSISTANCE Measures include: • A ban on rent increases during the moratorium

RESIDENTIAL TENANCY ASSISTANCE Measures include: • A ban on rent increases during the moratorium period • More flexible conditions around ending fixed-term leases • The ability to negotiate a Rent Repayment Agreement with your landlord if you are suffering financial hardship Visit https: //www. commerce. wa. gov. au/consumer-protection/residentialtenancies-covid-19 -response (Dept of Mines, Industry, Regulation and Safety)

RENT REPAYMENT AGREEMENT • These are voluntary agreements that landlord and tenant can enter

RENT REPAYMENT AGREEMENT • These are voluntary agreements that landlord and tenant can enter into when the tenant is experiencing financial hardship as a result of Covid 19. • It helps preserve the tenancy and make clear the arrangements for what rent can be paid and whether a rent waiver and/or deferral can apply. • It has to be in writing and landlord and tenants can negotiate their own terms. If terms cannot be agreed upon the matter can be referred to the Consumer Protection's conciliation service. • Rent must continue to be paid. Access Consumer Protection's free informal voluntary conciliation service by phoning 1300 304 054 or by email at consumer@dmirs. wa. gov. au.

THE RESID ENTI AL RENT RELI EF GRANT SC HEME • Grant of up

THE RESID ENTI AL RENT RELI EF GRANT SC HEME • Grant of up to 4 weeks rent or $2000 (whichever is least) to assist with rent repayment. • For Centrelink recipients only and specific eligibility criteria applies. • People who have recently lost their jobs. **UPDATE** RECENT CHANGES • You do not need to have agreed to a rent reduction with your landlord or have engaged in consumer protection’s conciliation service to make an application, the tenant just must benefit as a result of the grant. • You no longer need to upload documentary evidence to support your initial application. However, at any time you may be asked to prove what you are declaring. This means that you will need to ensure you have evidence to support your application in case it is requested. For more information please visit: https: //www. commerce. wa. gov. au/consumer-protection/residentialrent-relief-grant-scheme

RESIDENTIAL TENANCY SUMMARY • Important to keep up with rent payments • Rent will

RESIDENTIAL TENANCY SUMMARY • Important to keep up with rent payments • Rent will continue to accumulate • Landlords can’t evict a tenant who is unable to pay rent due to financial hardship caused by COVID-19 (unless they are causing damage or other disruptions); however this is only during the emergency period • If tenants are not affected financially by COVID 19 they are not covered under these special measures

SMALL BUSINESS RELIEF PACKAGE The WA government has announced measures to support small business

SMALL BUSINESS RELIEF PACKAGE The WA government has announced measures to support small business during Covid-19, they are: • $17, 500 payroll grants • Jobkeeper payments • Payroll tax threshold • Waiver of rental payments • No power or water disconnections • Business license fees and renewal fees waived • More information https: //www. smallbusiness. wa. gov. au/blog/coronavirus-stimuluspackage-small-business

WHAT ARE THE BANKS DOING? For individuals: • A deferral of scheduled loan repayments

WHAT ARE THE BANKS DOING? For individuals: • A deferral of scheduled loan repayments up to 6 months • Waiving fees and charges • Interest free periods or no interest rate increases • Debt consolidation to help make repayments more manageable. For small business: • Deferral of loan repayments for up to 6 months • Low interest rates

DEFERRING YOUR HOME LOAN REPAYMENTS Ruby – 6 -month principal and interest deferment and

DEFERRING YOUR HOME LOAN REPAYMENTS Ruby – 6 -month principal and interest deferment and loan term extension granted from bank Before Deferral After Deferral

CONT ACT YOUR BANK/ LENDER • The earlier you to speak to your bank/lender

CONT ACT YOUR BANK/ LENDER • The earlier you to speak to your bank/lender the better • Make contact via phone or email to the Bank’s hardship department • Financial counsellor and financial wellbeing workers

WHAT ARE THE UTILITY AND TELECOMMUNICATION COMPANIES DOING? • Not charging late payment fees

WHAT ARE THE UTILITY AND TELECOMMUNICATION COMPANIES DOING? • Not charging late payment fees • Not suspending services for overdue bills • No disconnections or credit collection activity • Placing your account on hold • Water Assist scheme • Make contact early and ask for assistance

COVID-19 EARLY ACCESS TO YOUR SUPERANNUATION • Many Australians may now be eligible to

COVID-19 EARLY ACCESS TO YOUR SUPERANNUATION • Many Australians may now be eligible to withdraw up to $20, 000 from their super over the next two financial years. • Accessing your super early should be a last resort • Need advice or assistance speak to a financial counsellor or financial advisor

RESOURCES • Midlas – FREE services – 9250 2123 • Shire of Mundaring •

RESOURCES • Midlas – FREE services – 9250 2123 • Shire of Mundaring • Uniting. WA – FWS FREE services • Centrelink website – Covid-19 page • Department of Social Services • National Debt Helpline • waconnect. org. au • moneysmart. gov. au • financialcousellingnetwork. org. au

QUESTIONS?

QUESTIONS?