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.
This was a support payment if you or someone you're caring for had to self-isolate or quarantine due to COVID-19. Pandemic Leave Disaster Payment ended on 30 September 2022. Pandemic Leave Disaster Payment was a taxable payment. If you got this payment, you'll need to include it in your tax return.
These were extra payments paid as part of the coronavirus (COVID-19) stimulus. We've already paid most eligible people. We paid one-off payments of: $750 from March 2020 and July 2020.
The Cost of Living Payment is a one-off payment of $250. You'll only get one Cost of Living Payment, even if you were getting more than one eligible payment or concession card. It's not taxable. You don't need to report it as income.
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.
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.
Incentives to work
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.
The Age Pension rates will potentially change on 20 September 2023. Increases are likely but not certain because the Australian Bureau of Statistics evaluates these increases based on changes in the Consumer Price Index (CPI), Male Total Average Weekly Earnings, and the Pensioner and Beneficiary Living Cost Index.
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.
Treasurer hands down 2022-23 federal budget
The payment – which will cost the government $1.5 billion – will be made to a select group of Australians including pensioners, carers and veterans. $250 PAYMENTS: Who is eligible?
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 Cost of Living Payment you must be a Centrelink or Department of Veterans' Affairs customer. To get the $250 one-off Cost of Living Payment you must be a Centrelink or Department of Veterans'Affairs customer.
The Australian Government will invest $1.5 billion to assist around 6 million Australians with higher cost of living pressures. A one-off $250 Cost of Living Payment will be paid to eligible recipients from the end of April 2022.
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 bonus will be paid to workers providing care and support in Government subsidised home care and to residential aged care workers. The payments will be for clinical care workers and expanded to all those providing direct care, food or cleaning services in Government subsidised residential care.
A payment to help students with the cost of moving from regional or remote areas for tertiary study. The Tertiary Access Payment (TAP) is a one off payment of up to $5,000. It's to help eligible students with the cost of moving to study. This is for study after you've finished year 12 or equivalent.
Carer Supplement is an annual payment of $600 for each eligible payment you get. You'll get this on top of your regular payment.
Under the new changes, age pensioners will now be able to earn an additional $4000 during this financial year without losing any of their pension.
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.
It has been confirmed that the increase for 2023 will be 10.1% for those who will be paid the full increase. This will be applied to your pension from 10 April 2023. For those whose benefits are in payment, you will notice a partial increase in your April payment.
The first full payment at the new rates of pension will be payday 6 April 2023. The maximum rate of single service pension will rise by $37.50 to $1,064.00 per fortnight and the maximum rate for couples will increase by $28.20 to $802.00 per fortnight (each).
Around 1.1 million Aussies on JobSeeker who are looking for work are set to benefit from the $40-per-fortnight cash boost. However, those aged over 55 on the JobSeeker payment will see a bigger $92.10-per-fortnight increase. Treasurer Jim Chalmers said this budget would focus on helping those “most vulnerable”.
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.