The government will provide $3.7 million in 2023–24 to extend the measure to provide age and veteran pensioners a once-off credit of $4,000 to their Work Bonus income bank and temporarily increase the maximum income bank until 31 December 2023.
Cost-of-living package in federal budget delivers $40-a-fortnight welfare boost and energy relief | Australian budget 2023 | The Guardian.
"The Australian Government is continuing to deliver tax relief, with a one-off payment of $250 to be made to eligible pensioners, welfare recipients, veterans and eligible concession card holders, to be paid automatically in April 2022," Mr Coleman said in his review of Budget 2022-2023.
The Government has provided two separate $750 payments to social security, veteran and other income support recipients and eligible concession card holders. Around half of those that benefit are pensioners. These payments will support households to manage the economic impact of the Coronavirus.
The Cost of Living Payment is a $250 one-off payment to help with the cost of living. The Cost of Living Payment is not taxable, and you don't need to report it as income. You'll get it if you were residing in Australia on 29 March 2022, and: you were able to claim, or were getting an eligible payment.
The government will provide $3.7 million in 2023–24 to extend the measure to provide age and veteran pensioners a once-off credit of $4,000 to their Work Bonus income bank and temporarily increase the maximum income bank until 31 December 2023.
Households will need to visit the comparison tool provided by Service NSW and will be eligible for the payment even if they don't switch plans. The program is set to run from July 1 to December 31, 2023. Aussies who compare providers now will still be eligible for the payment in July.
If you're a pensioner currently receiving support through Centrelink, you may be eligible for extra help with bills and medicine costs through the Pension Supplement. This supplement is a combined payment of Pharmaceutical Allowance, Utilities Allowance, GST Supplement and Telephone Allowance.
On 1 December 2022, a one-off $4,000 income credit was added to the Work Bonus income bank of those at least pension age and in receipt of an Age Pension, Disability Support Pension, Carer Payment or certain Veterans entitlement. Prior to 1 December 2022, the Work Bonus income bank was capped at $7,800.
The payment rates for Age Pension, Carer Payment and Disability Support Pension are increasing from 20 March 2023. Age Pension, Carer Payment and Disability Support Pension will increase by $37.50 a fortnight for singles and $56.40 a fortnight for couples combined.
Around 52,000 eligible recipients will receive an increase in their base rate of payment of $92.10 per fortnight. Payments will also continue to be automatically indexed to reflect changes in consumer prices.
Eligible staff who have worked part-time or casual arrangements will receive: One total payment being a pro rata amount, including superannuation and subject to income tax. Calculated on the average ordinary hours worked over the last 12 months (subject to a minimum threshold payment).
You can get the Work Bonus if both of these apply to you. You: are Age Pension age and over. get Age Pension, Carer Payment or Disability Support Pension.
To get the $250 one-off Cost of Living Payment you must be a Centrelink or Department of Veterans'Affairs customer. You must have been residing in Australia on 29 March 2022 and either: you were able to claim, or were getting an eligible payment. you were able to get, or had an eligible concession card.
From this Monday, payments such as Jobseeker, aged pension and single parent benefits will rise by about 3.7 per cent, as part of a biannual adjustment to reflect inflation. It means the age and disability support pension will go up $37 a fortnight for single people, and Jobseeker by $25 a fortnight.
If you live in NSW, Queensland, South Australia or Tasmania, you can get $500 per eligible household. If you live in Victoria, you can get $250 per eligible household, plus a one off $250 direct payment through Victoria's 2023 Power Saving Bonus Payment.
However, on 2 September 2022 the Prime Minister announced that Age Pensioners will be able to earn an additional $4,000 in the 2022–23 financial year before it affects their pension.
The Government announced on 1 February 2022 that an aged care workforce bonus of up to $800 will be paid to eligible aged care staff in Government subsidised home care and residential care.
The eligibility age for Age Pension is increasing to 67 years on 1 July 2023. If you were born on or after 1 January 1957, you must be 67 years to be eligible for Age Pension.
You can get up to $600 for each person you provide care for.
The Pension Bonus is paid when a person first claims and receives the Age Pension. The claim for the Pension Bonus and the Age Pension must be lodged together.
Full Age Pension income threshold increases by:
Singles threshold $204 per fortnight, increase is $14 per fortnight, $364 per annum. Couples threshold $360 per fortnight, increase is $24 per fortnight, $624 per annum.
Aussies on Centrelink will see a payment boost from the federal budget. Aussies who receive Centelink's JobSeeker will be seeing more cash in the bank, thanks to the federal budget. Around 1.1 million Aussies on JobSeeker who are looking for work are set to benefit from the $40-per-fortnight cash boost.
The Order is currently linked to the Consumer Prices Index (CPI) and is based on CPI as at the previous September. CPI at September 2022 was 10.1% which means that your pension will increase by 10.1% from 10 April 2023.
The $250 Power Saving Bonus is a payment from the Victorian Government for all Victorian households (a new round became available on 24 March 2023). Eligible Victorian households can receive one bonus each round.