COVID-19
Pandemic financial support: January 2021 update
January 6th, 2021
As the coronavirus pandemic continues to play a role in the daily lives of Australians, the Commonwealth and the states and territories have responded with a range of payments and support to help reduce the financial and emotional stress on individuals affected by COVID-19. […]
JobSeeker COVID supplement extended beyond 2020
November 12th, 2020
The Federal Government is extending the JobSeeker scheme until 31 March 2021, but it will continue at a lower rate. The overall fortnightly payment, which was set to expire around Christmas, will be cut from $815 per fortnight to $715 per fortnight from 1 January 2021. The $100 reduction comes off the coronavirus supplement rate, which will go down to $150. The base payment […]
Supporting super decision-making
September 25th, 2020
First Super members in your workplace will soon receive their annual member statements. As their employer, how can you help your staff make the right decisions around managing their super? Get on top of workplace super With the coronavirus pandemic having an ongoing impact on businesses, you may be finding your superannuation requirements challenging to prioritise or time consuming. Don’t let it get on top of you. […]
Financial support beyond super
September 15th, 2020
It can be overwhelming making financial decisions right now, especially if you’re struggling with the impacts of the coronavirus pandemic. But seeking help and taking action now can go a long way to getting things under control and, eventually, back on track. Check out these websites and online tools for a helping hand: MoneySmart outlines steps you can take to look after yourself and your money, including making super and investment decisions, accessing […]
Less income for members’ golden years under early release scheme
August 31st, 2020
Industry Super Australia (ISA), the peak body representing industry super funds (including First Super), has backed the Grattan Institute’s findings that millions who accessed super early and don’t top up their savings will have less income in retirement. Since the temporary early release of super scheme began in April, millions of Australians have received payments, draining billions from super balances. Over 8,000 First Super members have withdrawn super […]
Following the announcement of enhanced coronavirus restrictions in Victoria, including new ways of working for businesses, the Victorian Government has provided new resources to help businesses understand their obligations and, if allowed to operate, how to do so compliantly. In short: From 11:59pm on 5 August business restrictions apply. Services and industries that are able to […]
Pandemic financial support: an update
August 4th, 2020
The Victorian and Federal Governments have updated their financial support measures to help individuals affected by Victoria moving into stage 4 coronavirus restrictions. The state of disaster and tougher restrictions for Victoria declared on Monday 3 August are expected to impact more businesses and individuals. Many people are also experiencing a financial hit due to […]
Clothes shops, construction sites and hairdressing salons are part of a long list of businesses that will be forced to close under Stage 4 restrictions in Victoria. As the state recorded another 429 cases and 13 deaths on Monday, Premier Daniel Andrews announced a widespread shutdown that will affect almost every sector and have devastating consequences for […]