Changes to Job Keeper and Jobseeker payments and other Government support measures.

JobKeeper

Eligible businesses have got the Job Keeper payments extended till 28^th of March 2021 with the payments reduced after 28^th of September 2020 as follows:

$1,500 a fortnight until 27 September 2020 to pay eligible employees
$1,200 a fortnight from 28 September 2020 to 3 January 2021 to pay eligible employees (or $750 a fortnight if they worked less than 20 hours a week)
$1,000 a fortnight from 4 January to 28 March 2021 to pay eligible employees (or $650 a fortnight if they worked less than 20 hours a week)

JobSeeker

Job Seeker and other Corona Virus supplement recipients:

You’ll receive a fortnightly $550 coronavirus supplement until 24 September 2020

From 25 September until 31 December 2020 the fortnightly coronavirus supplement will be $250. During this period, JobSeeker recipients will also be able to earn up to $300 a fortnight before it reduces their payments.

Early access to super

Coronavirus If you are eligible the application is now extended till 31^st of December 2020 you will be eligible if any of the following applies to you:

you are unemployed
you are eligible to receive a job seeker payment, youth allowance for jobseekers, parenting payment (which includes the single and partnered payments), special benefit or farm household allowance
on or after 1 January 2020, either
- you were made redundant
- your working hours were reduced by 20 percent or more
- If you are a sole trader, your business was suspended or there was a reduction in your turnover of 20 percent or more.

Please note: that would have a significant impact on your retirement savings given that the share markets are at low levels and the number of years this money is likely to be invested and earning yields in other words it has a compounding impact on your retirement savings.

HomeBuilder grant

HomeBuilder gives eligible owner-occupiers, including first home buyers, a grant of $25,000 to build a new home or substantially renovate an existing home.

HomeBuilder grants are available during the second half of 2020. The building contract must be signed between 4 June and 31 December 2020, with construction to start within 3 months of signing.

More information on The Treasury website.