The Federal Budget and your Budget

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8 October, 2020

There are winners and losers in the 2020 Budget. This years budget has been defined by the coronavirus pandemic.

If you are struggling with finances and bills, need help putting together your own budget, there are a range of organisations and people that can help. Have a look at our listing of money and finance services:

You can also call our helpline on 1800 025 539 to get help to find the right services for you.

ABC Budget Coverage

The ABC has had excellent, comprehensive coverage of the 2020 budget, here are a few highlights and articles about how this years budget could affect your budget:

Tax cuts were revealed in the Budget — here's how to make yours work for you

Many of us are going to have a little extra cash in our pockets this year. It's all because of the tax cuts and $500 cash payments announced in this year's Federal Budget.

The Treasurer wants us all to spend up big to help pull the economy out of recession, but is that the best option for your financial situation?

Here are five ways to get the most out of your money.

  1. Don't impulse spend
  2. Consider saving it (in a high-interest account)
  3. Pay off those debts
  4. Put it back into your super
  5. Invest it

Who's eligible for the $250 payments?

There are cash payments totalling $500 which are available for over 5 million eligible recipients. It's not just pensioners.If you receive any of the following payments or if you hold any of the following healthcare cards, then you're eligible:

  • Age pension
  • Disability Support Pension
  • Carer Payment
  • Family Tax Benefit, including the Double Orphan Pension (but not in receipt of a primary income support payment)
  • Carer Allowance (but not in receipt of a primary income support payment)
  • Pensioner Concession Card (PCC) holders (not in receipt of primary income support payment)
  • Commonwealth Seniors Health Card holders
  • eligible Veterans' Affairs payment recipients and concession card holders

When will they be paid out?

The first payment of the two will start being paid out from November. And the second part is due to follow in March 2021.

Will the payments be taxed?

No, the payments won't be taxed. They also won't count as income support for the purposes of any income support payments.

Federal Budget 2020: Winners and losers

We asked what Australians thought of this year's Federal Budget. Most people thought there were some big gaps

Child care, domestic violence, science jobs and the unemployed: What do women get in the Federal Budget?

Budget tax cuts tipped to boost household saving rather than lift us out of COVID recession

South Australia stung with $1.3 billion GST write-down in 2020 Federal Budget

More From 'News Articles'

Food Insecurity & World Food Day

Foodbank just released its 2020 food insecurity report

This report is unlike any previous Foodbank Hunger Report as it presents a picture of food insecurity in the midst of a once-in-100-year crisis.

COVID-19 is having a profound effect on every aspect of people’s lives, so it is not surprising that it is impacting the food security of Australians. This report looks at how COVID-19, and the responses of governments, businesses and individuals to the pandemic, are affecting the ability of people to have food for themselves and their families.

World Food Day

FAO celebrates World Food Day each year on 16 October to commemorate the founding of the Organization in 1945. Events are organized in up to 150 countries across the world, making it one of the most celebrated days of the UN calendar. These events promote worldwide awareness and action for those who suffer from hunger and for the need to ensure healthy diets for all.

This year, World Food Day 2020 marks FAO’s 75th anniversary during a very exceptional time as many countries are dealing with the widespread effects of the COVID-19 pandemic. World Food Day should as a result be considered as an opportunity to call for global cooperation and solidarity to help all populations, and especially the most vulnerable and build back better. It is also an occasion to sensitize the public on how everybody has a role to play in transforming our food systems by changing the way we produce, transform, consume and waste our food.


Moneycare Day

This year, during ‘Anti-Poverty Week’ (October 11-17), The Salvation Army’s Moneycare is running events across the nation to help everyday Aussies get on top of their finances.

As part of Anti-Poverty Week, Wednesday October 14 is The Salvos National ‘Moneycare Day’.

Moneycare is The Salvos free and confidential financial counselling service, offering in-person or phone assistance to anyone in South Australia.

Sharon Maslen, Program Manager Financial Counselling Services South Australia, is encouraging anyone looking to improve their financial situation to reach out to their local Moneycare for support, utilise the free online resources, or participate in the free webinars running every day during Anti-Poverty Week (12-16 October).

The theme of this year’s event will be ‘Disasters don’t Discriminate’, with The Salvos seeing the devastating financial impacts of the year that has been, from bushfires to the economic turmoil of COVID-19.

“We have seen in the past 12 months the wide-ranging impacts that these disasters have had. They haven’t only impacted the most vulnerable in society but have reached people who never thought that they would ever find themselves in financial hardship. The Salvation Army is encouraging anyone who needs a hand with their finances to get help early, and reach out to a Moneycare financial counsellor,” Sharon Maslen said.

To access the online resources or to register for the free financial coaching webinars taking place at 12.00 noon (AET) each day and 2pm on the Tuesday and Thursday of Anti-Poverty week (12-16 October), visit

​The free, 20-minute webinars will help you to master your money essentials, covering topics such as buying your dream car, how to track your money, insurance, navigating loans and getting your finances back on track.

In an average year, The Salvos Moneycare offers financial services to over 13,000 people, helping with financial coaching, counselling, debt help and providing no-interest loans*.

Sharon Maslen said, “This year, particularly as government subsidies begin to scale back, The Salvation Army is anticipating a soaring demand to present to our services, including Moneycare. This is why early intervention is so important, to avoid this avalanche of need to come.”

Of particular concern is the impact of payday loans and rent deferrals, which have been increasingly used during the pandemic, and have potential for severe consequences in the long term.

“People often turn to payday lenders when they are in a time of financial crisis, which has been the case for so many this year through COVID-19. Moneycare financial counsellors can be powerful advocates on your behalf if you are in debt. If anyone has been stung by payday loans, or is considering obtaining one, reach out to Moneycare. We are here to help,” Sharon Maslen added.

For more information or to contact The Salvation Army’s free and confidential Moneycare service, please visit or call the Moneycare Intake Service Line: 1800 722 363