Andrew from Vista Financial Posted March 22, 2020 Share Posted March 22, 2020 (edited) Good morning I have attached the following articles which I feel may be useful: 1) Stimulus relief package and what this could mean for you 2) Q&A: Key money matters for uncertain times accessing superannuation income stream payments social security entitlements redundancy payments aged care bonds and more. Q&A - Uncertain times.pdf Stimulus Relief Package.pdf Edited March 23, 2020 by Andrew from Vista Financial . 1 Quote Link to comment Share on other sites More sharing options...
RoEire Posted March 23, 2020 Share Posted March 23, 2020 Heya! This is really helpful - can I ask has there been anything announced for those who are on PR, but can't access benefits because of the waiting period? We're 10 months into PR, here for 4 years, but have been told we can't access benefits for 2 years. We're losing our jobs here at the moment but cannot access services? Can we access our super? Thanks! Quote Link to comment Share on other sites More sharing options...
Ken Posted March 23, 2020 Share Posted March 23, 2020 9 hours ago, RoEire said: Heya! This is really helpful - can I ask has there been anything announced for those who are on PR, but can't access benefits because of the waiting period? We're 10 months into PR, here for 4 years, but have been told we can't access benefits for 2 years. We're losing our jobs here at the moment but cannot access services? Can we access our super? Thanks! You might be able to access your Super. It is after all not a Centrelink benefit but your own money. The current guidance on accessing super makes no mention of PR or of qualifying periods. The requirement are only: you are unemployed; or you are eligible to receive a job seeker payment, youth allowance for jobseekers, parenting payment (which includes the single and partnered payments), special benefit or farm household allowance; or on or after 1 January 2020: you were made redundant; or your working hours were reduced by 20 per cent or more; or if you are a sole trader — your business was suspended or there was a reduction in your turnover of 20 per cent or more. However applications can't be made until mid-April so there's always a possibility they'll make up some more rules before then. You'll need a my-gov account to make the application but as they are currently swamped if you don't have an account I'd get on there when you can to open an account. 1 Quote Link to comment Share on other sites More sharing options...
NicF Posted March 23, 2020 Share Posted March 23, 2020 22 hours ago, RoEire said: Heya! This is really helpful - can I ask has there been anything announced for those who are on PR, but can't access benefits because of the waiting period? We're 10 months into PR, here for 4 years, but have been told we can't access benefits for 2 years. We're losing our jobs here at the moment but cannot access services? Can we access our super? Thanks! The New Residents Waiting period has been suspended I believe so you may be able to get help from Centrelink if you meet the criteria. Quote Link to comment Share on other sites More sharing options...
RoEire Posted March 24, 2020 Share Posted March 24, 2020 7 hours ago, NicF said: The New Residents Waiting period has been suspended I believe so you may be able to get help from Centrelink if you meet the criteria. Amazing! I was hoping this would happen. I know everything is all over the place at the moment, but do you have a source? Quote Link to comment Share on other sites More sharing options...
Ken Posted March 28, 2020 Share Posted March 28, 2020 (edited) On 24/03/2020 at 17:27, RoEire said: Amazing! I was hoping this would happen. I know everything is all over the place at the moment, but do you have a source? It's on Centrelink's / Services Australia website: We’ve removed the newly arrived residents waiting period for JobSeeker Payment, Youth Allowance, Austudy, Farm Household Allowance and Special Benefit from 25 March 2020. This is due to coronavirus (COVID-19). We’ll let you know once this starts again. https://www.servicesaustralia.gov.au/individuals/topics/newly-arrived-residents-waiting-period/30726 Note that for some benefits not listed the waiting period does not apply if you start getting one of the listed benefits (e.g. JobSeeker Payment). Edited March 28, 2020 by Ken 1 Quote Link to comment Share on other sites More sharing options...
sbrowne9 Posted March 30, 2020 Share Posted March 30, 2020 Hi all, would actually be really interested in anyone has any idea is someone on a temporary partner visa (309) has any eligability to any assistance at all. Doesn't seem like it, and after 6 years here I've lost my job, so it's looking like I have 0 income for the next 6 months but can't travel home with my partner...what are they expecting us to do?? Quote Link to comment Share on other sites More sharing options...
Ken Posted April 1, 2020 Share Posted April 1, 2020 (edited) On 31/03/2020 at 08:43, sbrowne9 said: Hi all, would actually be really interested in anyone has any idea is someone on a temporary partner visa (309) has any eligability to any assistance at all. Doesn't seem like it, and after 6 years here I've lost my job, so it's looking like I have 0 income for the next 6 months but can't travel home with my partner...what are they expecting us to do?? There doesn't appear to be anything in the Temporary Early Access to Superannuation rules to say that temporary visa holders can't get it. That's interesting because the Temporary Early Access is tax free while DASP (the only other way for Temporary Visa Holders to access their Super unless they go on to get permanent residency) is very heavily taxed. Unfortunately it won't be until the middle of April before you can even apply for Early Access - and you should be aware they may come up with some more rules before them. Fact_sheet-Early_Access_to_Super.pdf Edited April 1, 2020 by Ken 1 Quote Link to comment Share on other sites More sharing options...
Andrew from Vista Financial Posted April 2, 2020 Author Share Posted April 2, 2020 On 31/03/2020 at 08:13, sbrowne9 said: Hi all, would actually be really interested in anyone has any idea is someone on a temporary partner visa (309) has any eligability to any assistance at all. Doesn't seem like it, and after 6 years here I've lost my job, so it's looking like I have 0 income for the next 6 months but can't travel home with my partner...what are they expecting us to do?? Hi I think that unfortunately you may not be able to as the measure for people to access the $10,000 seems to fall under the compassionate grounds condition of release (compassionate grounds - coronavirus) and unfortunately temporary residents cannot access super under this condition of release. Conditions of release can be found here: https://www.ato.gov.au/Super/APRA-regulated-funds/Paying-benefits/Releasing-benefits/Conditions-of-release/ The only conditions of release that temporary residents can access super can be found here: https://superoracle.firststatesuper.com.au/getting-money-out-of-super/temporary-residents-and-conditions-of-release However the government do seem to be bending over backwards to help people out so perhaps they could/may look at changing this however I have not heard anything to date. Regards Andy 1 Quote Link to comment Share on other sites More sharing options...
Ken Posted April 4, 2020 Share Posted April 4, 2020 It appears the government has announced that the $10,000 of Early Release of Super this year will apply to temporary visa holders - no mention of whether or not they will be entitled to next year's $10,000 yet. One word of caution is that I haven't yet seen this confirmed on an official website but this is the media report: https://www.sbs.com.au/news/temporary-visa-holders-in-australia-allowed-to-access-superannuation-as-coronavirus-support 2 Quote Link to comment Share on other sites More sharing options...
Ken Posted April 4, 2020 Share Posted April 4, 2020 On 02/04/2020 at 16:28, Andrew from Vista Financial said: The only conditions of release that temporary residents can access super can be found here: https://superoracle.firststatesuper.com.au/getting-money-out-of-super/temporary-residents-and-conditions-of-release However the government do seem to be bending over backwards to help people out so perhaps they could/may look at changing this however I have not heard anything to date. Regards Andy One of the listed conditions is where the trustee is given a release authority (eg for the release of excess contributions) making it fairly easy for the government to allow a release where it wants to do so. 2 Quote Link to comment Share on other sites More sharing options...
Andrew from Vista Financial Posted April 9, 2020 Author Share Posted April 9, 2020 (edited) So as Ken say's it has been extended to certain temporary residents also: https://minister.homeaffairs.gov.au/davidcoleman/Pages/Coronavirus-and-Temporary-Visa-holders.aspx?fbclid=IwAR2HRNdDYpD9i3oiAzjMJaG4b_bTmQcv1SrQ4zop7G9i_-q1CDDIdPC1MGU I've attached an updated fact sheet (1 April) on accessing super, it shows that the condition of release this now falls under is separate to accessing super under compassionate grounds and it seems that they sill exist over and above this. This access will be it's own unique condition of release known as compassionate ground - coronavirus. compassionate-grounds-corornavirus.pdf Edited April 9, 2020 by Andrew from Vista Financial Quote Link to comment Share on other sites More sharing options...
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