Coronavirus: When will households receive the stimulus cash?
This story has been republished to reflect updated Treasury information.
The Australian government has announced two stimulus packages which include payments for business, wage subsidies, cash payments and increased unemployment support payments.
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However, since the announcement of the second stimulus package on Monday, Centrelink branches have been inundated with Australians looking to access the support - and fast.
There are two main forms of support going to households: two $750 ‘economic support’ payments and a Coronavirus Supplement of $550 a fortnight.
Here’s when you’ll get the cash
$750 one-off economic support payments
The government will be making two sets of $750 economic support payments.
The first will be automatically deposited into eligible Australians’ accounts from 31 March. This will go to around 6.5 million Australians, including 2.4 million pensioners. JobSeeker payment recipients, Austudy, Carer Allowance and Family Tax Benefit recipients are also among those who are eligible for this.
The majority in this group are expected to have received the cash by 17 April.
The second payment will be paid to recipients from 13 July. However, Australians who receive the fortnightly $550 Coronavirus Supplement will not be eligible for the second $750 payment.
$550 fortnightly Coronavirus Supplement payments
From 27 April, eligible Australians will receive a $550 Coronavirus Supplement, bringing their fortnightly income to $1,100. This payment will continue for the coming six months.
In need? Here’s how to apply for the payments
Australians currently receiving the following payments will also be eligible for the supplement:
JobSeeker Payment
Youth Allowance Jobseeker
Parenting Payment (Partnered and Single)
Farm Household Allowance
Special Benefit recipients
All payments transitioning to JobSeeker Payment
Partner Allowance
Widow Allowance
Sickness Allowance
Wife Pension
The one-week waiting period has also been waived, so as soon as applicants are approved they should begin receiving the support payments from 27 April.
Asset testing has also been waived, although the government will test on income.
Australians receiving annual leave or sick leave payments from their employer will not be eligible for this payment.
However, Labor Senator Kristina Kenneally has questioned whether the 27 April commencement date is too far in the future.
"There is a lack of urgency in this support," she said.
"We are concerned that payments to households, including pensioners, will arrive too late.”
Who is eligible for these coronavirus stimulus payments?
Many Australians will be eligible for the first $750 economic support payment, but only those who aren’t eligible for the $550 supplement will receive the second $750 payment.
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