COVID-19: Financial Support Options If You Are Stood Down

Published: 28 Mar 2020

The CFMEU, in conjunction with the PPTEU, issued this flyer on Friday, March 27, 2020, for members who are stood down during the COVID-19 pandemic.

It outlines a number of financial support options that are available in these tough times. These include:

NEWSTART

The Federal Government has doubled the JobSeeker payment to $1100 per fortnight. They will also be waiving the asset test and wait time for new applicants. Apply at my.gov.au/services.

INCOLINK

Eligible Incolink members with an available balance will now have access to a COVID-19 Payment of $2,000 per month taxed at 32%. This payment will be available in WorkerLink ONLY to eligible members. The $1,100 per fortnight together with $2000 per month means a minimum income of $2,000 per fortnight.

RENTAL/MORTGAGE ASSISTANCE

Rent assistance may be available to you. You can check your eligibility at servicesaustralia.gov.au. Mortgage relief may be available to you via your financial institution.

SUPERANNUATION

Up to $20,000 may be withdrawn from your superannuation tax-free. $10,000 before 30 June 2020 and an additional $10,000 in the next financial year (after 1 July 2020).

REDUNDANCY FUNDS

You can access your redundancy from Incolink. An initial $8,000 payment will be made upfront, followed by a further $8000 payment monthly until your full entitlements are exhausted.

NOTE: The situation with coronavirus is changing every day, so please be sure to refresh this page and check our Facebook page or dedicated site for updates.

>> facebook.com/cfmeuvic

>> cfmeu-news.com.au/covid-19-information