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$243 cost-of-living payments hit Centrelink recipient accounts this week

The South Australian government will fork out a cost-of-living payment to concession holders in June.

Hands holding australian dollars 50 banknotes. Finance and payment concept.
210,000 Australians will get a $243 cost-of-living payment. (Daria Nipot via Getty Images)

A one-off cost-of-living payment for concession holders in South Australia has already started hitting bank accounts. The $243.90 payment was targeted toward those on "low or fixed incomes" at the "onset of winter, when energy bills increase for many households".

Treasurer Stephen Mullighan said the payment would be immediate when announcing the State Budget earlier this month. A government spokesperson told Yahoo Finance the payments had already started to roll out and that all were expected to be complete by the end of the week.

"Our cost of living relief is helping those on low and fixed incomes, renters, families with school children and those trying to buy their first home," Mullighan said.

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"This is exactly what governments should do when times get tough."

Everyone who received the 2023-2024 Cost of Living Concession (COLC) will receive the $243.90 payment again in June. This includes homeowners, tenants and Commonwealth Seniors Card holders.

This will impact around 210,000 South Australians.

To be eligible, recipients must:

  • Live at their stated property

  • Hold an eligible card, receive an eligible Centrelink payment, or meet low-income provisions

  • Eligible cards include: Pensioner Concession Card, DVA Gold Card, Totally and Permanently Incapacitated (TPI), Extreme Disablement Adjustment (EDA), War Widow, issued to a person with 80 or more overall impairment points under the Military Rehabilitation and Compensation Act 2004 (Cth), Low Income Health Care Card, Commonwealth Seniors Health Card

  • Tenants must not be living with anyone who earns more than the low-income provisions, unless they either: get an allowance from Centrelink or the Department of Veterans' Affairs (DVA) or are your spouse, domestic partner or dependent

Eligible low-income families who rent, and those who hold a Commonwealth Seniors Card, will have their COLC permanently doubled, so it is the same as homeowners from July 1.

"All eligible recipients will get the new standard amount of $255.60, with this payment to be made from August," the government said.

This is set to benefit about 73,000 people.

For more information on eligibility, check the SA government website here.

You don't have to do a thing.

The additional payments will automatically drop into your account.

If you're unsure whether you've received the payment yet, you can look for the $243.90 amount with the payment description ‘Concessions COLC'.

If you've updated your bank account in the last year, you will need to let the government know.

You can do this by completing the online household concessions form here or by contacting the Concessions Hotline 1800 307 758.

The $51.1 million investment was part of a $266.2 million cost-of-living package targeted at families and concession card holders.

It also included a $36.6 million pledge to double the cost-of-living concession for renters and senior card holders over four years.

This comes as stamp duty was axed for all first-home buyers purchasing new properties, with a previous cap of $650,000 dropped.

Parents of school-aged children will also benefit from reduced school fees and an expanded sports voucher program.

There's also a $300 payment coming for every Australian household. The energy rebate was announced in the Federal Budget.