SODA WEALTH | Finance

SODA WEALTH

Phone: +61 488 770 265

Address: 50 Webster Street 3145

Website: http://www.sodawealth.com/

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08.05.2022 Quick breakdown on the announcement of the JobKeeper Payment being extended until 28 March 2021. Please feel free to share. From 28 Sept 2020, a two-tiered level of support will be provided with lower payment rates than the current rate of $1,500 per fortnight. Phase 1 - 28 Sept 2020 to 3 Jan 2021 ... $1,200 per fortnight - employed for 20 or more hours per week (measured in the 4 weeks prior to 1 March 2020) $750 per fortnight for other eligible employees Phase 2 - 4 Jan 2021 to 28 Mar 2021 $1,000 per fortnight - employed for 20 or more hours per week(measured in the 4 weeks prior to 1 March 2020) $650 per fortnight for other eligible employees JobSeeker Payment The following applies from 25 Sept to 31 Dec 2020: Personal income test - Income free area for JobSeeker Payment and Youth Allowance (other) will increase to $300 per fortnight and a single taper rate of 60 cents will apply Partner income test - partner income test cut-off will increase to $3,086.11 per fortnight, or $80,238.89 per annum, for individuals with no personal income. You and your partner can earn more income before being cut-off, however, from 25 Sept 2020, the assets test will be reinstated which means that if you are over the threshold you will be cut off. Please note that your principal home is the home you live in and the first 2 hectares of land it’s on is not counted towards the asset test.

08.04.2022 Deeming rates for retirees to drop on 1 May 2020. For those that previously missed out on a Commonwealth Senior Health Care card due to having too much deemed income, it may be worth you reviewing this again so that you can benefit from cheaper medicine under the Pharmaceutical Benefits Scheme.

12.01.2022 Hi all. Confused about what payments you can get from Centrelink due to COVID-19? Need to apply and don't want to line up to register?... From 25 March, Centrelink registrations can be done online via mygov with or without a Centrelink reference number - CRN. Income test to qualify For a single person (without dependant children) the cut-off threshold is $1,086.50 per fortnight $28,249 pa or for a couple $993.50 per fortnight $25,831 pa. Please note that if a person’s working hours are reduced as a result of the economic impacts of the Coronavirus, the person must take reasonable steps to access any leave payments they are entitled to. This has an effect to your Income Maintenance Period which means that the leave you have taken is considered as income for a specific period of time. Worth noting that even if you qualify for a small amount of Jobseeker payment eg. $50, from 27 April to 24 September 2020, you will be entitled to a Coronavirus Supplement of $550 per fortnight. $50 + $550 =$600 pf. Thought you missed out on the $750 Coronavirus supplement? Lodge a full claim or at least register their intention to claim before 14 April 2020 to qualify for the first $750 payment. Please note that an eligible payment or concession card needs to be granted by Centrelink in due course for the first $750 to be paid. If you have a partner, their income is taken into calculation of your benefit paid. Anything over $994 pf is reducing every dollar of benefit by 60 cents. WATCH this space as there are proposals to reduce this down to 25 cents from 27 April 2020 which will mean more people will qualify for payments. Instead of getting cut off with one partner earning $48,321 per annum, it will now increase the income threshold to one partner earning $79,762.80 per annum. First step is register. https://my.gov.au/ If you know anyone that has been affected by COVID-19 please share this information with them. Daniel

08.01.2022 Deeming rates for retirees to drop on 1 May 2020. For those that previously missed out on a Commonwealth Senior Health Care card due to having too much deemed income, it may be worth you reviewing this again so that you can benefit from cheaper medicine under the Pharmaceutical Benefits Scheme.

01.01.2022 Hoping everyone has a great Easter! #covideaster