COVID-19, Money

COVID-19: Economic support payments for existing recipients of Government Benefits

Published on April 16, 2020 2:19 am, by

Key points

  • If you already receive government benefits you may qualify for one or two Coronavirus Economic Support payments of $750 each
  • These payments are being made to existing recipients of a number of government income support benefits. The details are listed below
  • If you are already eligible for these payments you will receive these automatically. You don’t need to do anything
  • The first payment will be made between 12 March 2020 and 13 April 2020. The second payment will be made from 13 July 2020
  • If you start receiving the Coronavirus Supplement you will not receive the second of the Economic Support payments

Eligibility for the Coronavirus Economic Support payments

Eligible recipients of the two support payments include recipients of a wide range of existing benefits including Age Pension, Disability Support Pension, Carer Payment, Austudy, Abstudy, Newstart Allowance, jobSeeker Payment, Youth Allowance, Partner Allowance, Sickness Benefit, Special Benefit, Family Tax Benefit, Veteran Service Pension, Veteran Income Support Supplement, Veteran Compensation payments, War Widow and Widower pensions, Veteran Payment, Farm Household Allowance and holders of Pensioner Concession Cards, Commonwealth Seniors Health Card holders, Veteran Gold Card.

If you are already receiving any of these benefits you don’t need to do anything. You can concentrate on staying healthy and other important things and your additional payment should start automatically.

If you start receiving the Coronavirus Supplement you will not receive the second Economic Support Payment.

More information on the Coronavirus Economic Support payments is available from Services Australia

 

If you are concerned about the financial impact of COVID-19 or you are facing the uncertainty of losing your job or having your income significantly reduced we can help. Sign up to MoneyBrilliant and we will give you access to a host of tools and features to help you organise your finances and make better decisions about your money. We’ll also give you tailored insights about the financial assistance available from governments and businesses to help you face the economic and financial challenges caused by the COVID-19 pandemic.

You can register for MoneyBrilliant online at www.moneybrilliant.com.au or download our app from the App Store or the Play Store.

 

This summary has been prepared by MoneyBrilliant Pty Ltd (AFSL 492711, ACL 493068). The information in this summary is of a factual nature only. We are not suggesting or recommending that you take any particular course of action in relation to any financial product or service. It does not take into account your personal circumstances or objectives. If you need financial advice or taxation advice you should seek advice from a licensed financial adviser or tax agent. You may also be able to access additional information from the websites of the Australian Securities and Investment Commission (ASIC) and the relevant product providers.

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Peter is the CEO of MoneyBrilliant. He has over 20 years experience in banking, insurance and accounting. Peter has three sons, ranging in age from 16 to 3, is a sport and fitness fanatic and a volunteer firefighter. He is passionate about improving people's lives through making financial services more accessible.

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