It’s not for minor damage or inconvenience. You can choose to get this payment in 2 instalments.
If you lost income as a direct result of the floods, you may also be eligible for Disaster Recovery Allowance. If you’re eligible, you can get both the Australian Government Disaster Recovery Payment and Disaster Recovery Allowance.
If you’re a New Zealand citizen living in Australia, check if you’re eligible for New Zealand Disaster Recovery Payment