Research efforts in the initial months of the COVID-19 pandemic focused on the actual and potential impacts on societies, economies, sectors, and governments. Less attention was paid to the experiences of individuals and less still to the impact of COVID-19 on an individual's wellbeing. This research addresses this gap by utilising a holistic wellbeing framework to examine the impact of COVID-19 on the overall wellbeing of individuals in the Australian state of South Australia through an online survey. The research framework for the survey comprises six dimensions: psychological and emotional health, physical health, living standards, family and community vitality, governance, and ecological diversity and resilience. The results show that most respondents (71%) were able to maintain overall wellbeing during the pandemic. However, more than a half of the respondents could not maintain wellbeing in psychological and emotional health. Further examination of the drivers of inability to maintain overall wellbeing reveals that low-income individuals, younger respondents (aged 18-24) and women suffer disproportionate hardships. Defining poverty in terms of multi-dimensional deprivations in wellbeing enables a nuanced analysis of the unequal impacts of COVID-19 mitigation policies that can be used to improve policymaking.