The Federal Budget 2023-24 will expand access to financial support by raising the age cut-off for the Parenting Payment (Single) from 8 to 14. Many single parents – overwhelmingly women – face difficulty balancing caring responsibilities and work. These difficulties do not end when their child turns eight.
Once the youngest child turns eight, single parents may be eligible for JobSeeker or some other payment depending on their circumstances. ⦁ JobSeeker Principal Carer is a payment for single parents whose youngest child is between 8 and under 16 years of age.
This will increase the maximum basic rate of payment for eligible parents and carers from $745.20 per fortnight to $922.10 per fortnight. This is the current maximum basic rate for single parents and carers getting PPS. About 57,000 people will benefit from the increased financial support provided each fortnight.
Single parents, of whom 91 per cent are women, with two children will be able to earn up to $251.80 and still receive the full fortnightly payment of $922.10.
Guarantee overview
The FHG aims to support eligible single parents with at least one dependent child to buy a home, whether that single parent is a first home buyer or a previous home owner. From 1 July 2022 – 30 June 2023, 5,000 FHG places are available to eligible single parents with at least one dependent.
You can complete suitable paid work for at least 30 hours a fortnight. This can include self-employment. Your income must be no less than the national minimum wage, or relevant award wage.
Centrelink Budget News: Federal Budget 9 May 2023
increase the base rate of working age and student payments (jobseeker etc) from 20 Sept 2023. energy relief payments for eligible Centrelink customers & card holders (no action is required; see note below)
If you are eligible, you may receive a supplement of up to $788.40 for each eligible child in the 2021 – 2022 financial year, and $817.60 for the 2022 – 2023 financial year. How much you get depends on: how many children you have in your care.
Your child can apply for a TFN at any age. However, once they turn 13 they'll be able to sign the application themselves. If they ever claim a payment in their own right, they'll need to give us their TFN. Find out more about applying for a TFN on the Australian Taxation Office website.
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.
The Tertiary Access Payment is a payment of $3,000 or $5,000. How much you can get depends on where your family home is located. Complete the following steps to claim the Tertiary Access Payment from us.
From September, parents will not be shifted on to the lower amount of the jobseeker payment until their youngest child turns 14. The change means they will receive the higher parenting payment (single) of $922.10 per fortnight for longer.
Mature age (aged 55 or over)
If you're aged 55 or over, the activities you can do to fully meet your obligations depends on your age and how long you have been receiving an income support payment. You can fully meet your obligations through 30 hours a fortnight of: paid work (including self-employment)
Less than 12 months on your current income support payment
If you're between 55 and 59 you can meet your mutual obligation requirements through one or more of these activities: 30 hours per fortnight of suitable paid work where the income is equal to or more than the minimum wage.
15 hours class contact
Explanation: As full-time study is a minimum of 20 contact hours per week, a student needs to do only 15 contact hours per week, that is, 75% of a full-time workload, to qualify as a full-time student under Austudy.
A change to expand the eligibility of Parenting Payment Single to customers whose child is under 14 years was announced in the Budget, starting from 20 September 2023. It's subject to legislation.
The liquid assets waiting period is between 1 and 13 weeks. It applies if you have funds equal to or more than either: $5,500 if you're single with no dependants. $11,000 if have a partner or you're single with dependants.
You may qualify for the parenting payment if: you are single and care for at least one child aged under eight years. you have a partner and care for at least one child aged under six years. income and assets for you and your partner (if you have one) are below a certain amount.
If you're receiving a Centrelink benefit, your home loan application will be processed the same as any other: you save a deposit and then borrow money from the lender, which you pay back with interest. However, not all lenders accept Centrelink payments as income and those that do, have a stricter application process.
Note: the above rates are for the general Super Guarantee as outlined by the ATO. The Family Home Guarantee starts today, which helps eligible single parents buy a property with a deposit of as little as 2 per cent, without having to pay lenders' mortgage insurance (LMI).
Date: 1 February 2023. The NSW Shared Equity Scheme starts on 23 January 2022 and aims to make home ownership more achievable for single parents, older singles (50+) and key workers.
This measure extends the increase to 31 December 2023. The Work Bonus concession of $300 per fortnight will stay the same. Eligible pensioners now have until 31 December 2023 to use their bigger Work Bonus balance. Any Work Bonus balance above $7,800 after 31 December 2023 will reset to $7,800.