Eligible recipients can receive up to $500 per week for losing 20 hours or more of work, and $325 per week for losing under 20 hours. The payment will be made in respect of the second and any subsequent weeks of restrictions – in other words, after 7 full days of lockdown.
Further eligibility requirements, include:
- Applicants must be at least 17 years old;
- Available for Australian citizens and permanent residents and eligible working visa holders;
- Employed prior to the commencement of the lockdown restrictions;
- Not receiving any other income support (ie. JobSeeker, business support payments, or the Pandemic Leave Disaster Payment);
- People will need to have exhausted any leave entitlements (other than annual leave) or other special pandemic leave; and
- Must only have access to less than $10,000 in "liquid assets".
This now raises the question; what is a "liquid asset"? According to the Government's definition, it is how much money you have to draw on, either in savings or other liquid assets (ie. shares or loans owed to you by other people). However, it should not include your superannuation fund balance and credit card limits.