Yahoo Finance Centrelink boost coming for millions of Aussies
Around 1.1 million Aussies are set to get a $40-a-fortnight boost.
Aussies receiving Centrelink JobSeeker payments are one step closer to receiving a $40-per-fortnight cash boost.
New laws increasing JobSeeker - along with Youth Allowance, Austudy and other welfare payments - were introduced to parliament on Thursday.
The changes, which were announced as part of the federal budget’s $14.6 billion cost-of-living package, will see the base rate of JobSeeker increase to $733.10 per fortnight.
Minister for Social Services Amanda Rishworth said the changes would provide targeted support to 1.1 million Aussies.
“We know that cost-of-living pressures have a disproportionate impact on those on the lowest incomes, and that is why the government is providing targeted support to strengthen Australia's social safety net,” Rishworth said.
“These are responsible changes, which are carefully calibrated to balance providing additional support to those on the lowest income-support payments, without adding to inflation.”
Older Aussies on JobSeeker will receive a bigger increase, with the government lowering the threshold to receive the higher rate.
The higher rate will be lowered from age 60 to 55 for those who have received the payment for at least nine continuous months.
How much are payments increasing?
The JobSeeker base rate will increase by $40 per fortnight, as will Youth Allowance, Austudy and other income-support payments.
Those aged 55 and over on the JobSeeker payment will see a bigger increase of $92.10 per fortnight.
Single parents getting a boost
Single parents will also see a payment increase, with the government raising the cutoff age for the parenting payment.
The threshold will change to when the recipient’s youngest child turns 14. Currently, single parents are moved to the JobSeeker payment when their child turns eight.
The change means eligible single parents will receive the higher parenting payment rate of $922.10 - an extra $176.90 per fortnight.
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