Yes. Many customers will get jobs again late this year and will want to refinance to clean up debts / get back on their feet.
Only a handful of lenders have confirmed their policy, but generally to refinance after a repayment holiday:
Major lenders will want at least 3 to 6 months of perfect repayments on your home loan to consider your application.
Specialist lenders will consider your home loan refinance application at a higher rate as long as you’re able to make repayments now.
A refinance is not possible if your income has not returned and you cannot afford the loan. Because under responsible lending guidelines (NCCP Act), it's illegal to give customers a loan that they cannot afford.
The key to approval will be applying with the right lender based on your individual circumstances.