By Blake Scheffers from William Buck
The Federal Government has officially announced its plan to transition away from the COVID-19 Disaster Payment as states reach their vaccination targets.
The changes are as follows:
70% Vaccination Rate (16 years and older)
- The payment will cease to automatically renew. Individuals must reapply each week to confirm their eligibility.
- Payment amounts remain the same.
80% Vaccination Rate (16 years and older)
- The payment will step down over two weeks from the first week after the target is reached.
- Flat payment of $450 for those who have lost more than 8 hours of work.
- The supplement for those on income support decreases to $100 from $200 currently.
- Flat payment of $320 (same as JobSeeker) for those who have lost more than 8 hours of work.
- The supplement for those on income support is removed.
After the two-week phase out, individuals will need to look at other social security payments if necessary.
The Pandemic Leave Disaster Payment remains in place until 30 June 2022. This payment provides support for individuals if they can’t earn an income because they must self-isolate, quarantine, or are caring for someone with COVID-19.
These changes are regardless of whether a state remains in lockdown or still has significant restrictions in place.
Contact your local William Buck advisor if you or your employees are impacted by these changes.