Centrelink payments boost: Australians on JobSeeker, pensions, Youth Allowance all to get extra cash
More than 5.5million Aussies on Centrelink and pensions are set to receive a pay boost due to indexation and relief put forward by the Albanese government.
The increase will come through for recipients on September 20.
The rise from indexation, which occurs twice every year in March and September, ensures payments keep up with inflation.
Social Services Minister Amanda Rishworth explained how this boost was vital for struggling Aussies.
‘Indexation is a vital mechanism to safeguard the purchasing power of social security payments, ensuring they keep pace with the cost of living,’ she said.
More than 5.5million Aussies on Centrelink and pensions are set to receive a pay boost due to indexation and government relief (stock image)
‘Higher inflation is being felt most within the homes of those on low fixed incomes and these payments are a lifeline for many Australians who are doing it tough or may need some extra support.’
The increase comes on top of a permanent increase in the base rate for eligible Aussies on income support announced in the federal government’s May budget.
More than a million Australians will receive an extra $40 a fortnight. This includes 782,000 individuals on JobSeeker, 222,000 on Youth Allowance, and 64,000 families on the partnered parenting payment.
Single Aussies on JobSeeker and ABSTUDY payments will get an extra $56.10 a fortnight, bringing their base payment to $749.20 per fortnight.
Those receiving the Age Pension, Disability Support Pension and Carer Payment will also see an increase in their base rate.
The single pension rate will lift to $1,096.70 per fortnight, a rise of $32.70. Couples will have payments go up to $1,653.40 per fortnight, an increase of $49.40.
Single parents will also no longer be cut off from government assistance after their youngest child turns eight, with the sole parenting payment to now continue up until that child is 14.
It’s estimated to benefit around 57,000 families to the tune of an extra $176.90 a fortnight.
Billions of dollars from cost of living measures and indexation will flow through to millions of Aussies in two weeks time (stock image)
The cost-of-living measures will cost the Albanese government $4.7billion and will not add to inflation (stock image)
About 1.1 million Australia households accessing Commonwealth rent assistance will be bolstered by a 15 per cent increase to the maximum rate – the largest in more than 30 years, as well as the CPI increase on September 20.
It will see payments reach a base rate of $184.80 per fortnight – an increase of $27.60.
Family payment recipients with one or two children will have their payments jump by $32.34 to $217.28 per fortnight.
Income limits for the Commonwealth Seniors Health Card will increase to $95,400 for singles every year and by $152,640 for couples every year.
The measures will cost the Albanese government $4.7billion.
Treasurer Jim Chalmers commented that the measures were ‘what people need, when they need it most’ in regards to the cost-of-living crisis.
‘Whether it’s cheaper medicines, more support to pay the bills or a bit of help to pay the rent, these policies and programs are targeted to take the pressure off while times are toughest,’ he said.
It follows other measures introduced in July, including cheaper child care for 1.2 million families, a 15 per cent pay rise for 250,000 aged care workers, and power bill relief for lower-income households and businesses.