The Work Bonus operates in addition to the pension income free area. From 1 July 2022, for single pensioners, the pension income free area is $190 a fortnight and for couples combined, it is $336 a fortnight.
Work Bonus
The federal government will change the pension work test and increase the amount age pensioners and veterans can earn before being financially penalised. As a temporary measure introduced in September 2022, age pensioners will be able to earn an extra $4000 this financial year.
Eligible pensioners have had $4,000 credited to their Work Bonus balance since 1 December 2022, increasing the maximum Work Bonus balance from $7,800 to $11,800. This measure extends the increase to 31 December 2023.
"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 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.
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.
The Work Bonus income bank is useful for pensioners who wish to work, particularly those who undertake intermittent or occasional work. Note: from 1 December 2022 to 31 December 2023, a one-off, temporary credit of $4,000 applies to Work Bonus income bank balances.
Pensioners To Receive $4,000 Boost To Centrelink Payments Until December 2023.
A one-off $250 Cost of Living Payment will be paid to eligible recipients from the end of April 2022.
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.
Aussies who compare energy providers will receive a one-off $250 payment, as part of a new NSW election promise. NSW households will receive a $250 cost-of-living payment for comparing energy providers, if the Coalition is re-elected in March.
The Centrelink scheme is accessible to people of age pension age who are eligible to receive the age pension. Having deferred age pension for a minimum of a year, a bonus may be paid to the person when the age pension is granted.
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.
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.
It will be given to pensioners, carers, veterans, job seekers, eligible self-funded retirees and concession card holders.
But after widespread speculation, it has now been confirmed that all JobSeeker recipients will see their payments go up by $40 per fortnight, as well as those on Youth Allowance, Austudy and other income support payments.
This payment is for those who start studying at any point in the year immediately after completing year 12 or equivalent. If you're eligible, you can only claim the Tertiary Access Payment from January 1 to December 31 in your first year of tertiary study.
On 1 February 2022, the Federal Government announced aged care workers would be eligible to receive a bonus payment of up to $800.
In the first week after this vaccination rate was reached, a $450 payment rate would apply for those who had lost eight or more hours of work (or a full day of their usual hours per week) except for those on income support who could receive a rate of $100.
You have $300 of Work Bonus available each fortnight, which can accrue up to the maximum amount. When your Work Bonus eligible income is less than $300 a fortnight, we'll reduce your income to zero.
The twice-yearly indexation is made to ensure welfare payments keep pace with the rising cost of living . Aussies receiving the Age Pension, Disability Support Pension and Carer Payment can expect an increase of $37.50 a fortnight for singles and $56.40 a fortnight for couples (or $28.20 each).
The $4,000 boost will be available until 31 December 2023, after initially being flagged to remain in place only until the end of this current financial year. Minister for Social Services Amanda Rishworth said this will give older Australians the ability to work more without losing any of their income support payments.
Apply at any time over the phone or at a service centre
You can apply for weekly payments at any time if you're already getting a payment from us. You can also apply if you're making a new claim for an income support payment and you can't apply online.