We would like to share some thoughts and information on the second stimulus package, which was passed by the Australian Parliament on Monday night. I appreciate that the support provided for many of you will not be enough, and hope to see further support provided by the Australian Government in the near future.

Whilst I am concentrating on the package here, I do appreciate the extremely serious humanitarian nature of the crisis, not only the health impact but also the anxiety and mental health toll this is taking on the global population. I do hope you stay safe, with any effects you may have mild, and that you manage to cope with the very restricted lives we are living and the anxiety of the unknown.

It is important to be in the best financial position on the other side of this crisis. Realistically, very few will not be adversely affected and many significantly. To whatever extent you consider I can assist minimise the wealth destruction, please let me know. I appreciate the justified concern and so please do not hesitate to contact us.

We will also be providing a summary of the stimulus package. We have tried to keep it as simple and straightforward as possible, however, if you have any queries please ask. Our objective was to enable you to identify what you would qualify for and the benefit to be obtained.

Below are the processes for obtaining access to your Superannuation and the Jobseeker Payment. I appreciate the thought of getting Centrelink benefits is an affront to many, however, the reality is this is how the Government has decided to distribute a significant portion of the stimulus package and there is no shame in applying for it, particularly under the current circumstances. This mechanism may well have been used as the Government had the infrastructure through Centrelink that it doesn't have anywhere else.

In respect of other financial survival basics,

Please contact your lenders (Banks, Car Finance) and request payment deferrals before you default. This will assist you with your relationship and the trust they have in you as a responsible borrower.
If you require any ATO debts postponed, please let us know so we can discuss it with the ATO. Currently, they are pushing payments back 6 months but we can review then and apply for further extensions.
Cut costs vigorously
Look for opportunities. For example, many gin distilleries have switched to making hand sanitizers. Opportunities may be hard to spot but could be very profitable.

We wish you the best in these extraordinary times.

Kim and the Team at Nimbus Financial

How to apply for early access to superannuation:

If you are eligible for the early release of superannuation, you can apply from mid-April directly to the ATO through the myGov website: my.gov.au.

Refer to the attached newsletter for further details about the amounts you can withdraw, when you can withdraw and the eligibility requirements.

How to apply for the Jobseeker Payment:

Step one:

Go online and log in to your existing myGov account or create a new one.

Step two:

Create a Centrelink Account

If you have received Centrelink payments in the past, you may already have a Centrelink account.
If you don't have an online Centrelink account, but you have received payments in the past, try to track down your Customer Reference Number (CRN) or Customer Access Number (CAN). Otherwise, you can call Centrelink to obtain your CRN.
If you have never received money from Centrelink, you will need to call Centrelink to identify yourself over the phone and set up an account.

Step three:

Step four:

Provide the required documents. If you are still working but there is a reduction in your hours, you will need a letter from your employer confirming this.

The requirement to provide an employment separation certificate, proof of rental arrangements and verification of relationship status will be waived, but not until 27 April 2020.

Step five:

Make a claim by logging into myGov and going to Centrelink. Select Payments and Claims from the menu, then Claims, then Make a claim.

Choose the category that best describes your circumstance and click Get Started.

You will have to submit any required documents online now.

Step six:

As part of the claim, you'll need to book a phone appointment. Some people have reported problems with the website at this point. Note that Centrelink call from a private number.

Step seven:

Wait. Centrelink will let you know if your claim has been approved. If it is, they will tell you when you need to report to them which will be every fortnight. Reporting means letting Centrelink know how much money you earned over the past 14 days and confirming you've stuck to the mutual obligations laid out in your job plan. If you don't report, you won't get paid.

Note that if you are a sole trader or are self-employed who now earn less than $1,075 a fortnight, you will meet your mutual obligation requirements just by continuing to operate your business. You will not have to apply for other jobs. Neither will people who are caring for someone who is infected or in isolation due to coronavirus.

Further information:

To ensure timely access to payments, new applicants are encouraged to claim through on-line and mobile channels. If applicants do not have internet access, they can claim over the phone.
From April 2020, Services Australia will allow new applicants to call to verify their identity to reduce the need to visit a Services Australia office.
1. To claim online, people who do not already deal with Services Australia will need to set up their myGov account, call to verify their identity, and get a link to their Centrelink online account.
Applicants for Jobseeker Payment and Youth Allowance Jobseeker will:
- Make an initial declaration about their identity, residency status, income and that they have been made redundant, or had their hours reduced (including to zero) as a result of the economic downturn due to coronavirus.
- In the case of sole traders and the self-employed, make a declaration that their business has been suspended or had turnover reduced significantly.
Applicants may also declare the amount of rent they pay in this declaration to qualify for Rent Assistance.
Services Australia has effective measures in place to detect those seeking to defraud the social security system. Anyone fraudulently claiming a payment will need to pay the money back and may face imprisonment.