As the vaccination rate continues to climb, and businesses are able to open, employ, serve and trade, the State and Federal governments have communicated their plan to withdraw the financial support provided over this June-October lockdown period.

JobSaver has been tapered from 40% to 30% of weekly payroll, and now that the State has reached 80% vaccination rate, the Federal Government has ceased it’s 50% contribution to JobSaver. The State has however, communicated its intent to continue it’s 50% contribution to JobSaver until 1 November. This means that JobSaver post 80% double-vaccination status for NSW is 15% of weekly payroll until 1 November 2021. Business will need to confirm their turnover to Service NSW on a fortnightly basis.

The COVID Disaster Payment paid by the Federal Government directly to individuals who lost hours of work entered Phase B when the State reached 70% double vaccination status. Phase B means that individuals no longer receive automatic payments, instead they will need to report weekly the continued loss of work hours in a Commonwealth hotspot to maintain eligibility.

Phase C was enacted when NSW reached 80% double vaccination status of persons aged 16+ where a flat payment of $450 will be paid in the first week to those who have lost more than 8 hours of work in a Commonwealth hotspot, while those on income support will receive $100.

In the second week, the payment will be bought into line with JobSeeker at $320 for the week for those who have lost more than 8 hours of work, while the payment will end for those on income support.

Due to the rapid rate of change to timelines, we are supporting many businesses and individuals to organise their finances. If you require support, please do not hesitate to contact us: mail@adviceco.com.au