How we’re supporting individuals

Below you’ll find a summary of support available to you during these uncertain times.

Government Pandemic Leave Disaster Payment

The Government announced a Pandemic Leave Disaster Payment for those who need to self-isolate, quarantine or care for someone. Payments are available for people who can’t earn an income because they have been directed to self-isolate or quarantine by authorised personnel. Details depend on the jurisdiction and lockdown orders in place, and you can find out more here.

COVID-19 Disaster Payment

The Australian Government has launched support for workers or sole-traders in the ACT, NSW, NT QLD, SA and VIC. This is a lump sum payment to help workers or sole-traders unable to earn income due to a COVID-19 state public health order. This may involve a lockdown, hotspot or movement restrictions.

For more information about eligibility and how to claim, please visit the Government’s COVID-19 Disaster Payment website.

Have you been stood down by your employer or had your income significantly reduced?

Here’s what you can do. 

You can seek clarity

Being stood down is a temporary measure that means you remain employed but unpaid for the period of time that you do not perform your duties, but are not paid your usual wage. You will continue to accrue annual leave.

You can learn more on the Fair Work Commission website.

You can continue to seek employment

Many businesses have increased demands at this time. If you have been stood down or had your hours reduced and you find other work you can take that job. As long as you are not employed as a full-time permanent employee this will not require you to resign from your original job. 

You can talk to us about your loan and credit card repayments

If you’re concerned about making repayments on your credit card, personal loan or home loan, we have options to help you manage. Call us on 13 30 95 to speak to our Financial Assistance Solutions team to find out more about the options that suit your individual situation. They’re open 8am-9pm Monday to Friday and 9am – 2pm on Saturday (Sydney/Melbourne time). 

Defer your home loan repayments 

We’re offering a two month home loan repayment deferral to help eligible customers significantly impacted by lockdowns, especially those in local government areas with additional restrictions. 

To request a deferral log onto NetBank here , select your home loan account, then choose 'Pandemic' as the reason for your request.

You may be eligible for support payments

If you are impacted by the NSW and VIC COVID-19 lockdown, live or work in a Commonwealth declared COVID-19 hotspot, your hours have been reduced, and you are unable to earn an income because you must self-isolate, quarantine or care for someone who has COVID-19, then you may be eligible for a payment from your state or territory government. Find out more detail and help to work out your eligibility

You could seek rent and utility relief

You may be eligible for rental assistance from the Government. Talk to your landlord about what else may be possible for further rental relief. Also worth continuing to speak with your landlord and try to work on options to help you both during this time. You may also be eligible for an energy subsidy. Many utility providers have also launched relief measures. Speak to your specific provider about temporary relief.

You can access additional benefits

Through Benefits finder in the CommBank app, you may be able to find government or other benefits that you may be eligible for. We also have some special term deposit rates, providing several options to earn a return well above the cash rate. CommBank is also taking steps to help free up household cash flow for our personal customers. 

You can seek additional support for your overall wellbeing

This period of uncertainty may cause stress for many individuals, families, community groups and businesses. It is critically important that you look after your mental wellbeing, as well as your overall financial wellbeing. If you are suffering from heightened stress or any other mental health condition, consult your regular doctor about the appropriate course of care, as you may be eligible for Medicare rebates on psychological services, with additional telehealth services being put in place to ensure they are available for all people requiring them.

You can seek help as a vulnerable community member if you are at risk of domestic violence

If you or your family are impacted by family or domestic violence, support is available to you. 1800RESPECT (1800 737 732) is a free national counselling and referral service. All of these calls are confidential and can help provide guidance during a difficult time. If you're unable to call you can also visit www.1800respect.org.au for more information. If you’re a CommBank customer experiencing a domestic or family violence situation, you can speak to our specialist Community Wellbeing team about your financial needs. For more information visit commbank.com.au/dv-assistance.

See more information about ‘Next Chapter’: independence for survivors of domestic and financial abuse (PDF).

Support in case of domestic violence

1800RESPECT (1800 737 732) is a free national counselling and referral service for anyone affected by domestic violence.  All of these calls are confidential and can help provide guidance during a difficult time.

Are you a retiree who has seen their income or superannuation fall?


Maintaining a source of income is more important than ever in retirement. If coronavirus has affected yours, here's what you can do.

You can reduce your drawdown rate

To provide retirees with more flexibility in managing their retirement incomes, the Government has reduced the minimum drawdown rates for account based pensions and similar products by 50% from 1 July 2020. You should consider whether this is right for you given your circumstances. To get an idea of how long your account-based pension will last, please visit the Moneysmart website.

You can make changes to your asset allocations

With changes in market and economic conditions, you could consider seeking financial advice prior to making any decisions to alter your overall asset allocation. You may benefit from discussing your situation with one of our qualified financial planners. You can get in touch by visiting the Commonwealth Financial Planning webpage or calling us on 1800 138 713 from 8.30am to 5.30pm, Monday-Friday (Sydney/Melbourne time).

Make an appointment to speak with a financial planner

You may benefit from discussing your situation and possible financial planning needs with one of our qualified financial planners. Your first meeting is obligation-free and may be over the phone or at your local branch (subject to social distancing measures). You can get in touch by visiting the Commonwealth Financial Planning webpage or calling us on 1800 138 713 from 8.30am to 5.30pm, Monday-Friday (Sydney/Melbourne time).

You can take measures to remain safe and secure during this time

We understand that some of our customers prefer to come into the branch to do their banking. In light of the Government’s announcement around essential services, we are committed to keeping as many of our branches open as possible and also ensuring that our customers and staff are kept healthy and safe. Some of our branches may need to close from time to time and we will keep you updated via our branch locator tool. Social distancing will be observed in branch and added measures have been put in place to ensure the branch is kept clean and safe for all. If you have questions about using your Passbook during this time visit commbank.com.au/passbook.

Alternatively, you can also access accounts 24 hours a day through NetBank or the CommBank App, and general banking enquiries through our locally-based contact centres on 13 22 21, every day between 6am and 10pm.

You can increase your online safety and awareness of scams

We want you to remain safe and secure online. Unfortunately, there are some online scammers that will be seeking to take advantage of the current situation and access your personal information. Please do not share your personal bank details with anyone that contacts you directly. 

Learn more about how to protect yourself online

We also have a guide to help older people avoid scams, fraud and abuse that can be found here.

You can access support through the National COVID Older Persons Information Line

Council on the Ageing, National Seniors Australia, Older Persons Advocacy Network, and Dementia Australia have banded together, supported by the Commonwealth Government to launch a new support service. You can call 1800 171 866 to get the critical information you need to stay healthy and safe during coronavirus. 

Key resources for retirees

How we’re supporting business owners

Below you’ll find a summary of support available to your business during these uncertain times.

A jointly funded package from the Commonwealth and ACT Governments will give support to small and medium businesses in the ACT who have been impacted by lockdown measures.

The ACT COVID-19 Business Support Grants will deliver support of up to $20,000 for employing businesses and $7,500 for non-employing businesses where turnover has declined by 30% or more as a result of the COVID-19 health restrictions.

The ACT Government will also open a COVID-19 Small Business Hardship Scheme, where eligible ACT businesses can apply for credits on the cost of eligible fees and charges of up to $10,000 (inclusive of GST) per ABN, and a Tourism, Accommodation Provider, Arts and Events and Hospitality Grant of between $1000 and $20000 for businesses impacted by restrictions in the ACT and health restrictions in NSW and Victoria.

Further information regarding eligibility and how to apply can be found on the ACT Government Business Hub website.

COVID-19 Business Support Grants for NSW

The NSW Government announced an economic support package aimed at helping businesses impacted by the COVID-19 lockdown.

Further information on the grant, the eligibility criteria, and how to apply, can be found on the NSW Government website.

Key components of the 2021 COVID-19 package include:

  • COVID-19 business grant: if you’re a business, sole trader or not-for-profit organisation impacted by the current Greater Sydney COVID-19 restrictions, you may be able to apply for a grant of up to $15,000
  • Micro business grant: if you’re a micro business (small business or sole trader with annual turnover of more than $30,000 and under $75,000) impacted by the current Greater Sydney COVID-19 restrictions, you may be able to apply for a grant of up to $1500 from late July 2021
  • JobSaver payments: will now be available to businesses with an annual turnover of between $75,000 and $250 million which have experienced a revenue decline of 30 per cent or more

Other components of the support package include:

  • Payroll tax waivers of 50% for businesses with Australian wages of between $1.2 million and $10 million that have experienced a 30% decline in turnover, as well as payroll tax deferrals and interest free repayment plans;
  • Relief of up to $4,500 for residential landlords who are not liable to pay land tax who reduce rent for tenants estimated at $210 million;
  • Land tax relief equal to the value of rent reductions provided by commercial, retail and residential landlords to financially distressed tenants, up to 100% of the 2021 land tax year liability; 
  • Introduction of legislative amendments to ensure a short-term eviction moratorium for rental arrears where a residential tenant suffers loss of income of 25 per cent due to COVID-19 and meets a range of criteria;
  • No recovery of security bonds, or lockouts or evictions of impacted retail and commercial tenants prior to mediation; 
  • Deferral of gaming tax assessments for clubs until 21 December 2021 and hotels until 21 January 2022.

A new hardship panel will also assess businesses that do not qualify for COVID-19 grants, on a case-by-case basis.

Also, NSW businesses are set to benefit from further payroll tax relief to help ease the financial burden of COVID-19 lockdowns. This includes:

  • All NSW businesses who have a payroll tax liability have the option of deferring lodgement and payment of their 2020/21 annual reconciliation until 7 October 2021
  • Customers required to lodge monthly returns will also have the option of deferring their returns due in August and September until 7 October 2021
  • In addition, all payroll tax customers that defer their payments are eligible for an interest free payment plan of up to 12 months
  • Businesses with wages between $1.2 million and $10 million that have experienced a 30 per cent decline in turnover will get a 25 per cent reduction of their 2021/22 payroll tax

For more information about payroll tax reductions and deferrals, customers should visit the website www.revenue.nsw.gov.au or contact the team at Revenue NSW on 1300 139 815 or payrolltax@revenue.nsw.gov.au.

COVID-19 Business Support Grants for NT

The Federal and Territory Governments have announced a support package for Territory businesses impacted by COVID-19 restrictions.

A Visitation Reliant Support Program will be available for tourism and hospitality businesses reliant on international and interstate visitation who have seen a 30 per cent decrease in turnover as a result of the lockdown – particularly relating to visitation.

A Tourism Survival Fund will be available for touring, professional conference organisers, exhibition build companies and eligible attractions, who have seen a 30 per cent decrease in turnover compared to the same period in 2019 and haven’t benefitted from tourism vouchers.

These packages are in addition to the Small Business Lockdown Payment, available to businesses with venues that must remain closed until restrictions lift.

Further information on the support available, the eligibility criteria, and how to apply, can be found on the NT Government’s Business Recovery website.

COVID-19 Business Support Grants for QLD

The Palaszczuk Government will provide Business Support Grants of $5,000 to eligible small and medium businesses across Queensland affected by the current COVID-19 lockdown and lockdowns in other states. These grants are in addition to other support for small businesses including the Business Basics, Business Boost, and Business Growth grant programs, and more.

Support payments will also be provided to large businesses in the hospitality and tourism sector in the 11 local government areas locked down, and to QLD businesses on the NSW border who are suffering due to ongoing border restrictions.

Further information on the grants and support available, the eligibility criteria, and how to apply, can be found on the Queensland Government website.

COVID-19 Business Support Grants for SA

The South Australian Government will provide support for local small and medium businesses impacted by the COVID-19 lockdown, as well as for large cancelled or postponed events. These include the COVID-19 Business Support Grant, the COVID-19 Additional Business Support Grant, the COVID-19 Tourism and Hospitality Support Grant, the COVID-19 Business Hardship Grant and the Major Events Grant.

Further information on the grants, the eligibility criteria, and how to apply, can be found on the Government of South Australia website.

A new jointly funded package from the Tasmanian and Australian Governments will be targeted at businesses operating in the tourism, hospitality, arts and events, seafood, and transport sectors, as well as those that have been impacted directly by reduced interstate visitation. 

Financial support grants of up to $50,000 will be provided based on annual turnover. 

Further information on the grants, the eligibility criteria, and how to apply, can be found on the Tasmanian Government Website.

 

COVID-19 Business Support Grants for VIC

A jointly funded package from the Commonwealth and Victorian Governments will provide cash payments to small and medium businesses most affected by lockdown restrictions, including a four-week boost to those businesses most impacted by the September lockdown.

The vast majority of payments will be deposited automatically into businesses’ bank accounts, while a new tiered payments system for the Business Costs Assistance Program will allow for higher payments to businesses with more workers.

Further information on the grants, the eligibility criteria, and how to apply, can be found on the Victorian Government website.

Key components include:

A new tiered system for the Business Costs Assistance Program Round 4 (for businesses who were recipients of Round 2 or July Extension). Payment amounts to eligible businesses, depending on payroll size, are:

  • $2,800, $5,600 or $8,400

To be eligible for the Small Business COVID Hardship Fund, small businesses with a payroll of up to $10 million who have experienced 70% or more reduction in revenue must not have been eligible for existing business support funds. Businesses that are legally allowed to operate but are restricted in their ability to generate revenue – such as a food store located at a shopping centre or a manufacturer supplying goods for closed venues – will be among those that that could be eligible. Businesses that have lost custom due to restrictions affecting foot traffic – such as pharmacists located in the CBD – could also be eligible. The payment amount to an eligible small business is:

  • One-off payment of up to $20,000

The Alpine Business Support Program will deliver automatic top-up payments of between $10000 and $40000 to Alpine based businesses affected by restricted inter and intra-state travel throughout the remainder of the season and the September school holidays.

More information about the Business Costs Assistance Program, the Licensed Hospitality Venue Fund, the Alpine Business Support Program and the Small Business COVID Hardship Fund is available at business.vic.gov.au.

The Commercial Tenancy Relief Scheme and Landlord Hardship Fund will be reinstated to support landlords that provide rent relief to their tenants. More details to be provided by the Victorian Government soon. 

SME Recovery Loan Scheme  

To support our business customers, a loan of up to $5 million may be available to eligible customers* with small or medium sized businesses who continue to deal with the economic impacts of the COVID-19 crisis. Applications can be made from 1 April 2021 to 31 December 2021. This loan must be used for business purposes or the purchase of commercial property, and is part of the Government SME Recovery Loan Scheme.

You can learn more about the SME Recovery Loan Scheme at the Treasury website.

Apply now

Cash flow support

The NSW and Federal Governments announced additional economic support for businesses impacted by the COVID-19 lockdown on 13 July 2021. Businesses can register to receive this support with Service NSW from 14 July 2021, with payments likely commence from late July and backdated. 

Eligible CommBank customers who have registered to receive the Government stimulus payments and need additional cash flow support in the interim can call our Business Financial Assistance line on 13 2607 and request bridging finance. 

To be eligible to apply for this bridging finance customers must have opened a Business Transaction Account with CommBank prior to 1 January 2021, in addition to our standard lending eligibility (Interest and fees will apply).1

Defer repayments on your eligible BetterBusiness Loan

Eligible2 BetterBusiness Loan holders, with less than $10,000,000 of total commercial liabilities with CommBank, can request a loan repayment deferral due to the impact of the pandemic on their business.

Remember: If you defer your repayments, for the duration of the deferral period, interest and charges will continue to accrue at the agreed rate and time on any outstanding balances and add to the total loan balance. This means that the total amount of interest payable will be more than it would have been under the original contract term.

If you are in financial difficulty or require a deferral, call the Business Financial Assistance Team on 13 26 07 or your dedicated relationship manager.

Car and equipment finance

For business vehicle and equipment loans, eligible customers3 for SME Recovery Loan Scheme will receive a 0.20% p.a. discount off the standard rate.

Refund merchant fees
 

If you're facing financial difficulty, you can ask us to refund your Merchant terminal rental fees, minimum monthly Merchant Service Fee, Monthly Access Fee, and Simple Merchant Plan fee (as applicable) for up to 90 days. If you have a Relationship Manager they will be able to assist you with this, or you can speak with Merchant Services team on 1800 230 177, who are available 24/7

See what benefits you can claim

Personal

If you've lost income due to coronavirus and are claiming income support you may also be eligible for other benefits and rebates.

For businesses

You may be eligible for benefits, rebates and concessions that could help you save money and help your business with cash flow.

Check if you're eligible

Benefits Finder

Government resources & updates

Latest government information

Interpreter & translation options

View the COVID Financial Support Guide in different languages, or find out about our interpreter services. 

See translation support options

There is much that we can do together.

For further information and links to applications, please go to commbank.com.au/coronavirus

You can empower yourself and take charge of your financial wellbeing: Review your financial position. Understand and be realistic about what your income will be during this time. Adjust your expenditure if required so that you can sustain your financial position. Think about what parts of your expenditure are essential expenses that you need, versus discretionary expenses that you want. It can be important to set a budget that helps you manage this over the next 6-12 months if required.

 

Things you should know

As this information has been prepared without having regard for your individual and/or business objectives, financial situation or needs, you should, before acting on this information, consider its appropriateness to your circumstances. This information is current as at 16 September 2021 and is prepared without taking into account your individual and/or business needs and objectives. CommBank has the right to change or cancel this offer at any time without notice. The statements and content of this fact sheet have been sourced from various government publications and summarised. CommBank disclaims, to the extent permitted by law, all warranties, representations or endorsements, express or implied, with regard to the material and does not accept any liability in relation to the quality, operability or accuracy of the material.

1 Credit provided by the Commonwealth Bank of Australia.  These products are only available to approved business customers and for business purposes only. Applications for finance are subject to the Bank's eligibility and suitability criteria and normal credit approval processes. View our Current Terms and Conditions for Business Finance, Financial Services Guide and Business Transaction Account Terms and Conditions and consider them before making any decision about these products. Rates are subject to change. For current interest rates, visit business banking rates and fees. Fees, charges and Terms & Conditions apply.

2 Customers eligible to apply for a loan repayment deferral include any CommBank business customer who holds a BetterBusiness Loan with less than $10,000,000 of total commercial liabilities with CommBank. Loan repayment deferrals are offered at the final discretion of the bank. These products are only available to approved business customers and for business purposes only. Applications for finance are subject to the Bank’s eligibility and suitability criteria and normal credit approval processes. Applications for finance are subject to the Bank’s eligibility and suitability criteria and normal credit approval processes. View our current Terms and Conditions for Business Finance and consider them before making any decision about these products. For current interest rates, visit Business banking rates and fees.

3 Customers need to meet Government SME Recovery Scheme eligibility criteria: small to medium sized businesses with up to $250 million turnover, including those self-employed, and not-for-profits; must have an Australian Business Number (ABN); available to current and new CommBank business customers. This offer cannot be used to purchase residential property or financial products or to provide loans to associated entities. These products are only available to approved business customers and for business purposes only. Applications for finance are subject to the Bank’s eligibility and suitability criteria and normal credit approval processes. View our current Terms and Conditions for Business Finance and consider them before making any decision about these products. For current interest rates, visit Business banking rates and fees

The statements and content of this fact sheet have been sourced from various government publications and summarised. CommBank disclaims, to the extent permitted by law, all warranties, representations or endorsements, express or implied, with regard to the material and does not accept any liability in relation to the quality, operability or accuracy of the material.

*These products are only available to approved business customers and for business purposes only. Customers need to meet Government SME Recovery Scheme eligibility criteria: small to medium sized businesses with up to $250 million turnover, including those self-employed, and not-for-profits; must have an Australian Business Number (ABN); available to current and new CommBank business customers. This offer cannot be used to purchase residential property or financial products, or to provide loans to associated entities. Applications for finance are subject to the Bank's eligibility and suitability criteria and normal credit approval processes. View our current terms and conditions for Business Finance and Asset Finance and consider them before making any decision about these products. For current interest rates, visit Business banking rates and fees. The statements and content of this fact sheet have been sourced from various government publications and summarised. CommBank disclaims, to the extent permitted by law, all warranties, representations or endorsements, express or implied, with regard to the material and does not accept any liability in relation to the quality, operability or accuracy of the material.

Please view our Merchant AgreementFinancial Services Guide and Operator and User Guides at our Merchant Support Centre.

Credit provided by the Commonwealth Bank of Australia.

Commonwealth Bank of Australia ABN 48 123 123 124 AFSL and Australian credit licence 234945.