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”.
“Until now, people aged 60 and over and on payments for a long time have received a higher rate, in recognition of the additional barriers they face finding work. But the truth is, it gets more difficult earlier than that,” Chalmers said.
“The majority of people aged 55 and over on JobSeeker are women, many with little to no savings or superannuation, and who are at risk of homelessness.”
Single parents also see boost
At the moment, single parents receive about $961 a fortnight, but are shifted to the JobSeeker payment when their child turns eight, receiving about $176 less a fortnight.
The new cut-off age means parents could get an extra $27,456 before moving over to the JobSeeker payment.
“Over 90 per cent of these parents are single mums; they deserve our respect and support for the incredible job they do,” Chalmers said.