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. Your Government support will be adjusted based on the income you receive.
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).
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. The States and Territories in April agreed to a 6 month moratorium on the eviction of commercial and residential tenants if they can’t pay their rent due to the ongoing crisis, please check if an extension has been announced in your State or Territory. 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 consider accessing superannuation
The Government announced that if you’re eligible, you can withdraw up to $10,000 of your super, from 1 July 2020 until 31 December 2020. The first step is to check eligibility requirements on the ATO website. If you’re eligible, you can submit your application directly to the ATO via your My Gov account. You will not need to pay tax on these amounts and they will not affect Centrelink or Veterans’ Affairs payments. Before you apply, consider how withdrawing your super might affect your retirement savings. You can find out more by using the super withdrawal estimator on the Moneysmart website.
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 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.