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Budget 2020: Aussies to get $500 cash injection

·2-min read
Man holding $50 notes.
Budget 2020: Aussies to get $500 cash injection. Source: Getty

Welfare recipients will receive a $500 cash boost over the next five months under the Government’s Federal Budget.

Australians receiving the aged pension, disability support pension, carer payment, carer allowance, family tax benefit, family tax benefit lump sum, double orphan pension, Commonwealth seniors health card, pensioner concession card or veteran card will be eligible for the boost.

It will come in two $250 payments - one in December and one in March 2021 - and are in addition to JobSeeker and JobKeeper.

The total cost of the two payments is $2.6 billion, and is in addition to the two Economic Support Payments of $750 distributed earlier this year.

Did JobSeeker get a boost?

Despite calls from industry experts to increase the baseline JobSeeker rate or boost the Coronavirus Supplement, the Budget hasn’t made any changes to the dole.

The temporary coronavirus support supplement was extended from 25 September until 31 December 2020 at the lower rate of $250 per fortnight.

Has JobKeeper changed?

There are no new updates to the JobKeeper scheme.

The wage subsidy was officially extended to 28 March, with the extension set to unfold in two phases.

The first phase began on 28 September, and would see those working more than 20 hours per week receive $1,200 per fortnight. That’s around 80 per cent of the minimum wage.

Those who work less than 20 hours per week will receive $750 per fortnight.

From 4 January, the second phase will be introduced.

That phase will see those working more than 20 hours per week receive $1,000 per fortnight, and those working less than 20 hours per week pocket $650 per fortnight.

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