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JobSeeker 2.0 and other income support



JobSeeker 2.0 and other income support


On 21 July 2020, The Government announced changes the COVID-19 income support measures. We explore the details.

Coronavirus supplement

The Coronavirus supplement will continue, albeit on a reduced rate of $250 per fortnight (from $550), from 25 September until 31 December 2020 for eligible individuals.

27 April to 24 September 2020
$550 per fortnight
25 September to 31 December 2020
$250 per fortnight

 

Eligibility remains the same. That is, those receiving:

The eligibility criteria and some of the tests for access to income support is changing.

Eligibility and access

The expanded eligibility criteria for the Jobseeker Payment and the Youth Allowance JobSeeker will continue to apply until 31 December 2020:

In addition, if you receive JobSeeker or Youth Allowance payments, the amount you can earn before impacting income support has been increased to $300 per fortnight from 25 September 2020 until 31 December 2020.

However, a number of restrictions have been reintroduced.

Reintroduction of assets and partner income tests

From 25 September 2020, the assets test and the Liquid Assets Waiting Period (applies to those with assets such as cash savings worth over $5,500 for singles or $11,000 for singles with children and partnered people) will be reintroduced for access to income support payments.

In addition, partner income testing will resume from 25 September, albeit with higher thresholds than those pre coronavirus. That is, you will not be eligible for income support if you are not earning an income but your partner earns $3,086.11 per fortnight or $80,238.89 per annum. The partner income test taper rate will increase from 25 cents for every dollar of partner income earned over $996 per fortnight to 27 cents for every dollar of partner income earned over $1,165 per fortnight.

Reintroduction of job seeking requirements

Job seeking requirements that were suspended from 24 March 2020 have been introduced from 9 June 2020. The mutual obligation requirements include:

Waiting periods continue to be waived

Some waiting periods for access to income support will continue to be waived until 31 December 2020:


Disclaimer
The material and contents provided in this publication are informative in nature only.  It is not intended to be advice and you should not act specifically on the basis of this information alone.  If expert assistance is required, professional advice should be obtained. We are here to help, contact us today.