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Centrelink cost-of-living cash boost coming for these Aussies

Aussies receiving youth, student or carer support will see their payments increase on January 1.

Tamika Seeto
·Finance Reporter
Updated ·2-min read

More than 936,000 Aussies will see their Centrelink payments increase on January 1, 2024, as part of the government’s regular indexation.

Aussies receiving youth, student or carer support will receive a 6.0 per cent boost to their payments at the start of the new year.

These payments are indexed once a year to ensure they keep up with the rising cost of living. Other payments, including JobSeeker and the Age Pension, are indexed twice a year - in March and September.

Composite image of Centrelink sign and Australian money.
Thousands of Centrelink recipients will see their payments increase in January, due to regular indexation. (Source: Getty)

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Youth Allowance payments will increase by between $22.40 and $45.60 a fortnight, while those receiving Austudy will see an increase of between $36.20 and $45.60 a fortnight.

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People on the Disability Support Pension aged under 21 will see increases of $31.10 to $44.90 a fortnight, while the Carer Allowance will increase by $8.70 to $153.50 a fortnight.

Social Services Minister Amanda Rishworth said the increases would ensure Aussies receiving support could navigate cost-of-living pressures.

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“Australia’s social security system is a safety net that is continually strengthened and improved to support all vulnerable Australians,” Rishworth said.

“Through regular indexation, our payments are adjusted in line with changes in the cost of living to retain their purchasing power."

Other Centrelink increases

The increases are on top of the $40-a-fortnight increase to the base rates of working-age and student payments announced in the federal budget.

This included JobSeeker, Youth Allowance, Parenting Payment (Partnered), Austudy, ABSTUDY living allowance, Disability Support Pension (Youth) and Special Benefit, with the increase kicking in on September 20.

The Australian Council of Social Services previously criticised the new rates as being “grossly inadequate” and noted the new higher JobSeeker rate was still less than half the minimum wage.

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