Advertisement
Australia markets close in 23 minutes
  • ALL ORDS

    7,996.00
    -87.10 (-1.08%)
     
  • ASX 200

    7,724.60
    -87.20 (-1.12%)
     
  • AUD/USD

    0.6598
    -0.0011 (-0.17%)
     
  • OIL

    76.81
    -0.06 (-0.08%)
     
  • GOLD

    2,337.40
    +0.20 (+0.01%)
     
  • Bitcoin AUD

    101,994.64
    -3,201.63 (-3.04%)
     
  • CMC Crypto 200

    1,461.77
    -40.89 (-2.72%)
     
  • AUD/EUR

    0.6102
    -0.0002 (-0.04%)
     
  • AUD/NZD

    1.0826
    -0.0002 (-0.02%)
     
  • NZX 50

    11,783.39
    -26.09 (-0.22%)
     
  • NASDAQ

    18,623.39
    -81.82 (-0.44%)
     
  • FTSE

    8,339.23
    -31.10 (-0.37%)
     
  • Dow Jones

    39,065.26
    -605.78 (-1.53%)
     
  • DAX

    18,691.32
    +11.12 (+0.06%)
     
  • Hang Seng

    18,575.56
    -293.15 (-1.55%)
     
  • NIKKEI 225

    38,685.87
    -417.35 (-1.07%)
     

Centrelink cash boost coming for these 180,000 Aussies

Parental leave payment will be expanded from July 1, 2024, giving families a $1,765.50 cash boost.

Aussie families will soon be eligible to claim more paid parental leave from Centrelink. The major expansion of the scheme is set to give around 180,000 families a welcome cash boost each year.

The changes, which passed through parliament last month, will increase the amount of paid leave parents can access by two weeks each year. From July 1, eligible families will be able to claim 22 weeks of leave, up from 20 weeks.

The number of weeks parents can access will keep increasing each year until it reaches 26 weeks from July 2026. Payments are made at the national minimum wage, which is currently $882.75 per week.

Parent and Centrelink sign. Parental leave pay concept.
Paid parental leave recipients will soon be able to claim more weeks of pay from Centrelink. (Source: AAP/Getty)

Do you have a story to share? Contact tamika.seeto@yahooinc.com

Services Australia has reminded Aussies about the upcoming changes and said it would work out how much families are eligible for when they submit their proof of birth or entry into care.

ADVERTISEMENT

“If your child is born or enters your care from 1 July 2024, your family will be able to access 22 weeks (110 days) of Parental Leave Pay,” Services Australia said.

“If your child is born or enters care before 1 July, you will be eligible for 20 weeks (100 days).

“Don’t forget, you can claim up to three months before your child’s expected date of birth or date they enter your care.”

RELATED

How much can I claim?

From July 1, the total amount of paid parental leave will increase to 22 weeks. At the current rate that is a maximum of $19,420.50, up $1,765.50 from the current $17,655.

This amount is shared between parents. Currently and for the 2024-25 financial year, two weeks of leave are set aside for the second parent who is not using the majority of the leave.

This is given on a “use it or lose it” basis and the weeks cannot be transferred to the other parent if they aren't used. Single parents can get the full amount.

From July 2026, a total of four weeks of the 26 weeks will be reserved for each parent to help encourage greater sharing of care responsibilities.

The government has also announced plans to pay superannuation on parental leave pay, which would come into effect from July 1, 2025 if it wins the next election.

Who is eligible?

You can get parental leave pay if you and your partner’s taxable income is less than $350,000.

If your combined income exceeds that, the majority of the leave can be provided to one parent if they earn less than $168,865.

You’ll also need to have worked for 10 of the 13 months before the birth or adoption of your child, and a minimum of 330 hours (around one day a week) in that period.

You can find out more about the changes on the Services Australia website.

Get the latest Yahoo Finance news - follow us on Facebook, LinkedIn and Instagram.