On Sunday, 22 March 2020, the federal government announced a new form of social security payment, known as the Coronavirus supplement payment. Individuals who have lost their job, been stood down or have had significant reductions in business income will become eligible.
This includes individual who are sole traders or self-employed. To qualify for any assistance, your gross income needs to drop below $1,086.50 in any fortnight. At this level, you will qualify for a JobSeeker payment plus the full $550 Coronavirus supplement payment.
There is no waiting period, meaning you will be able to register for the payment and then supply the department with your fortnightly receipts over the next six months.
You are also able to register online, using your MyGov account. After registering, you may be contacted by phone to complete the verification process.
If you are a sole trader, you do not need to meet the current “activity test” to get the JobSeeker payment. It will be assumed that you time will be spent continuing to develop and sustain your business.
If you need any assistance applying for payments, or don’t understand whether you will qualify, please contact us for more information.
