Financial support during disasters and pandemics like COVID-19
Life is challenging enough without the extra burden of disaster and pandemics such as COVID-19 or bushfires. Here are some tips and resources to help you take control of your finances when your life is turned upside down.
- Watch out for scams – Unfortunately, when we are vulnerable, scammers and criminals see opportunity. Be particularly wary of Superannuation scams and high investment returns with no risk. If an investment sounds too good to be true go with your gut. It is very likely an investment scam. Use Connect by ASIC to check if the business has an Australian financial services (AFS) licence. Also, be wary, the person trying to scam you may pretend to represent a real business on the list. Learn more about investment scams here.
- Free financial support – If you are having difficulty with your finances or feeling overwhelmed by financial decisions, contact the National Debt Helpline 1800 007 007 anytime from anywhere in Australia for free financial counselling and support.
- Government support – The Australian government and your local state government have programs in place that provide financial support during crises and disasters. Check your eligibility for COVID-19 payments through Services Australia.
Similar posts you may like
- The Glove Tax of 1785
As Britain’s 1784 tax on hats was such a lucrative revenue raiser for the government, they decided to complement it with a glove tax. Read more
- Educate yourself
Instead of trusting your money to others, gain financial independence and control by educating yourself on personal finance. Implementation and cost Read books and Read more
- Upselling
Upselling can involve marketing more profitable services or products, or just exposing the customer to other options that were not considered. Upselling is more Read more
- SMSF carrying on a business
Subject to compliance with the SIS Act and the sole purpose test, the ATO has confirmed that SMSF's can carry on a business. Although Read more
"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2