Finances and COVID-19
The following is a note from Oliver Pearce, Core Team Member, & Chair of The Finance Committee for our Sending Church in Wahroonga:
Hello Church
Given the economic climate we find ourselves in, there can be a lot of uncertainty with what the future holds. We know that none of this is a surprise to God, that He has us, He has a plan for us and He is good.
There has also been a lot of media noise around what the Government has proposed and is offering in light of the economic uncertainty that we are encountering.
Following is a brief (by no means conclusive) summary of what might be available to you if you need it.
- Job Seeker Payment: If you loose your job, the Government has increased the ability to access the Job Seeker payment. The payment is means tested. Information can be found here -> https://www.servicesaustralia.gov.au/individuals/services/centrelink/jobseeker-payment
- Additional income support: With a special Coronavirus supplement for eligible income support payments. More information here, along with further initiatives the Government is undertaking -> https://treasury.gov.au/coronavirus/households
- Early access to Superannuation: If you have lost your job, or see a decrease in earnings by at least 20%, you may be entitled to access $10,000 of your superannuation this financial year, and next financial year. More information can be found here -> https://www.business.gov.au/Risk-management/Emergency-management/Coronavirus-information-and-support-for-business/Early-access-to-superannuation
- Help for business: Businesses may be entitled to receive Job Keeper payment where income has dropped by more than 30%, could also be entitled to cash payments to assist in retaining staff, investment incentives and may be entitled to government guaranteed, short term loans.
In all of this, know too that you are not alone. If you find yourselves in difficulty, please reach out to your Gospel Community Group leaders and your Pastors. We’re keen to help.
We're running this race, wherever it takes us, together.
Your brother
Oliver