Yahoo Finance $700 cost-of-living credit coming for millions from next week
Millions of Aussies will be receiving an electricity bill rebate from next week. Here’s how to claim it.
All Western Australian households and thousands of small businesses will receive electricity credits on their power bills from next month. The $492 million cost-of-living relief was first announced in this year’s state budget.
All households will receive a $700 credit, while more than 90,000 eligible small businesses will receive a $725 credit. This will be paid across two instalments in the coldest and hottest months of the year.
The first instalment - $350 for households and $362.50 for small businesses - will appear on bills from next week in the July-August billing cycle. The second instalment will be applied in the December-January billing cycle.
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The electricity credit is being jointly funded by the State and Commonwealth Governments - with the WA government delivering a $400 credit to households and the federal government a further $300 credit for households, along with a $400 and $325 credit to small businesses respectively.
"Just like every taxpayer is getting a tax cut, every household will now get energy bill relief under the Albanese Government from next month with plenty of support for small businesses as well,” Treasurer Jim Chalmers said.
"We know that many Western Australians are under pressure, and the extension and expansion of our energy rebates will deliver more cost of living help to more people who need it."
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The credit will be available to small businesses with annual electricity consumption below 50-megawatt hours.
Further support is available for some households, including pensioners, veterans and those with Health Care Cards, through the Energy Assistant Payment and Dependent Child Rebate.
How do I claim the rebate?
If your household or small business electricity account is with Synergy or Horizon Power, you do not need to do anything.
The electricity credit will be applied directly to eligible accounts automatically over the two payments.
If you are with another provider, you will need to apply for the rebate through Revenue WA and the Small Business Development Corporation. Applications are expected to be open in July.
What electricity rebates are available in other states?
Other states have also announced additional energy rebates for households, although some are more targeted.
Queensland households will be getting $1,000 off their electricity bills from July 1, which will be automatically credited to their bills.
The NSW government has boosted energy rebates available to eligible seniors, families and low-income households. Eligible families and seniors will receive a $250 rebate, while low-income families will receive a $350 rebate from July 1.
While not solely for energy bills, the South Australian government is giving a $243.90 cost-of-living payment to concession holders, which is hitting accounts now.
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