Latest news with #DisabilitySupportPension
Yahoo
12-06-2025
- Business
- Yahoo
Centrelink cash boost coming in weeks for 2.4 million Aussies: ‘More money in bank accounts'
Millions of Centrelink recipients will see a small increase in their payments in the coming weeks. The increase is part of regular indexation, which is designed to ensure payments keep up with the rising cost of living. Around 2.4 million Australians will benefit from the latest round of indexation, which will come into effect from July 1. The increase will see a range of rates, thresholds and limits increase by 2.4 per cent. That includes payment increases for families receiving the Family Tax Benefit A and B, the Multiple Birth Allowance, and the Newborn Supplement. Income and asset thresholds will also be increased for recipients of the Age Pension, Disability Support Pension and Carer Payment. RELATED Centrelink payment change happening next week: 'Will increase' Major RBA interest rate call set to give homeowners $250 per month win $400 cash boost available for thousands of Aussies in new energy rebate Social Services Minister Tanya Plibersek said the government's "number one priority" was addressing cost-of-living pressures. 'From 1 July, millions of recipients of social security payments will see more money in their bank accounts," she said. 'Payments like the Family Tax Benefit help cover the costs of raising children for many Australian families, and indexation is a crucial way to help families when cost of living rises." Families getting the Family Tax Benefit Part A will see their maximum fortnightly payments go up to $227.36 a fortnight, an increase of $5.32. For those with children aged 13 or over, the rate will increase to $295.82 a fortnight, which is an increase of $7. Families receiving the Family Tax Benefit Part B will see their maximum rate increase to $193.34, an increase of $4.48. Families with children aged over 5 will see their rate increase to $134.96. First-time parents of a newborn child will receive an extra $48 over 13 weeks, with the Newborn Supplement increasing to $2,052.05. The Multiple Birth Allowance will increase to $196.56 per fortnight for those giving birth to triplets, while payments for quadruplets and more will go up to $261.94 per fortnight. This round of indexation won't impact payment rates for the Age Pension, JobSeeker, Youth Allowance, the Disability Support Pension or Carer Payment. However, there will be income and asset threshold changes. Age Pensioners will be able to earn $218 a fortnight, up $6 a fortnight, and still be eligible for the full pension. The maximum amount you can earn before your pension cuts out will increase to $2,516. For couples, those limits will be $380 per fortnight and $3,844.40 per fortnight for the disqualifying income limit. Single homeowners will be able to have assets of $321,500 and receive the full pension, while couples will be able to have $481,500. The cut-off threshold to receive a part pension will increase to $704,500 for single homeowners and $1,059,000 for couple homeowners. The Paid Parental Leave annual income limits will also increase, with the individual limit increasing to $180,007 per annum and the family limit increasing to $373,094 per annum. Full details of the new rates and thresholds can be found in retrieving data Sign in to access your portfolio Error in retrieving data
Yahoo
11-06-2025
- Business
- Yahoo
Centrelink cash boost coming in weeks for 2.4 million Aussies: ‘More money in bank accounts'
Millions of Centrelink recipients will see a small increase in their payments in the coming weeks. The increase is part of regular indexation, which is designed to ensure payments keep up with the rising cost of living. Around 2.4 million Australians will benefit from the latest round of indexation, which will come into effect from July 1. The increase will see a range of rates, thresholds and limits increase by 2.4 per cent. That includes payment increases for families receiving the Family Tax Benefit A and B, the Multiple Birth Allowance, and the Newborn Supplement. Income and asset thresholds will also be increased for recipients of the Age Pension, Disability Support Pension and Carer Payment. RELATED Centrelink payment change happening next week: 'Will increase' Major RBA interest rate call set to give homeowners $250 per month win $400 cash boost available for thousands of Aussies in new energy rebate Social Services Minister Tanya Plibersek said the government's "number one priority" was addressing cost-of-living pressures. 'From 1 July, millions of recipients of social security payments will see more money in their bank accounts," she said. 'Payments like the Family Tax Benefit help cover the costs of raising children for many Australian families, and indexation is a crucial way to help families when cost of living rises." Families getting the Family Tax Benefit Part A will see their maximum fortnightly payments go up to $227.36 a fortnight, an increase of $5.32. For those with children aged 13 or over, the rate will increase to $295.82 a fortnight, which is an increase of $7. Families receiving the Family Tax Benefit Part B will see their maximum rate increase to $193.34, an increase of $4.48. Families with children aged over 5 will see their rate increase to $134.96. First-time parents of a newborn child will receive an extra $48 over 13 weeks, with the Newborn Supplement increasing to $2,052.05. The Multiple Birth Allowance will increase to $196.56 per fortnight for those giving birth to triplets, while payments for quadruplets and more will go up to $261.94 per fortnight. This round of indexation won't impact payment rates for the Age Pension, JobSeeker, Youth Allowance, the Disability Support Pension or Carer Payment. However, there will be income and asset threshold changes. Age Pensioners will be able to earn $218 a fortnight, up $6 a fortnight, and still be eligible for the full pension. The maximum amount you can earn before your pension cuts out will increase to $2,516. For couples, those limits will be $380 per fortnight and $3,844.40 per fortnight for the disqualifying income limit. Single homeowners will be able to have assets of $321,500 and receive the full pension, while couples will be able to have $481,500. The cut-off threshold to receive a part pension will increase to $704,500 for single homeowners and $1,059,000 for couple homeowners. The Paid Parental Leave annual income limits will also increase, with the individual limit increasing to $180,007 per annum and the family limit increasing to $373,094 per annum. Full details of the new rates and thresholds can be found in to access your portfolio
Yahoo
05-05-2025
- Business
- Yahoo
Centrelink $4,000 boost Aussies can get now: ‘Keep more of your payment'
Aussies claiming the Age Pension can get a 'one-off boost' of $4,000 through the Work Bonus scheme. The Work Bonus allows older Aussies to earn more income from working without it reducing their Centrelink payments, with Aussies able to start work 'straight away' if they want. Services Australia has issued a reminder about the scheme and how it could help you 'keep more of your payment'. You would be eligible if you're over the age of 67 and collecting the Age Pension, Disability Support Pension or Carer Payment. 'The Work Bonus automatically exempts $300 per fortnight you earn from work. Every fortnight you aren't working or have been paid less than $300 from work, you are contributing to your Work Bonus balance,' Services Australia community services officer Justin Bott explained. 'This balance can grow until it reaches a maximum of $11,800.' RELATED $3,300 Centrelink change that would leave thousands of pensioners worse off: 'Pile on more pain' Tax cuts, HECS debts, Medicare boost: All the major cost-of-living relief coming for millions of Aussies Intimidating salary now needed to afford a home in Australia If you are claiming an eligible pension for the first time, you will automatically start with a Work Bonus balance of $4,000. 'That means you could start work straight away if you wanted, and earn over $4,000 in your pocket before you see any change to your pension rate,' Bott said. 'If you earn more than $300 from work in a single fortnight, any extra income is offset against your Work Bonus Balance. Your pension payment doesn't change until your work bonus balance is reduced to $0.' The Work Bonus isn't money that you can draw on to use for other things. Instead, you use it to keep more of your pension if you are working. Bott gave the example of someone with a Work Bonus balance of $7,900 who returned to work after six months off. He was paid $750 in eligible income in his first fortnight. Services Australia would deduct the $300 fortnightly Work Bonus and then reduce the remaining $450 of income using his Work Bonus balance. This would reduce his Work Bonus balance to $7,450 and his pension payment would not be impacted. Assuming he continued working and being paid $750 a fortnight, it would take around 16 fortnights before his pension was affected by his wages. You don't need to apply for the Work Bonus. You just have to let Centrelink know of any income you receive from work. The Work Bonus is on top of the pension income test free area. Single pensioners can currently earn up to $212 a fortnight of income from any source and still be eligible for the full pension, couples can receive up to $372 a fortnight. The Work Bonus, which only applies to income from paid employment, adds an extra $300 per fortnight. That means singles can earn a combined income of $512 a fortnight and couples $672 a fortnight without it affecting their pension.
ABC News
29-04-2025
- Business
- ABC News
WA rentals out of reach for households on income support, Anglicare report finds
Western Australia's rental crisis has reached new depths, with data from one of the state's charities showing there's not a single property or room that is affordable for people on Jobseeker, Youth Allowance or the Disability Support Pension. Anglicare WA's 2025 Rental Affordability Snapshot shows that despite a significant increase in private rentals listed across WA, affordability is languishing with the state's median rent hitting $680 per week, up five per cent from last year and 21 per cent from 2023. The charity defines an affordable property as one requiring less than 30 per cent of a household's income, and it says rooms across the state are well out of reach for households on income support or the minimum wage. Anglicare WA chief executive Mark Glasson said the report needed to serve as a wake-up call for governments at all levels to do more, and to have a bold vision to come up with long-term solutions. Anglicare WA chief executive Mark Glasson says affordability has tanked for those on low incomes. ( ABC News: Blake Kagi ) "What this survey tells us that no other one has, is that there is absolutely nothing across the whole state if you're on Jobseeker, Youth Allowance or the Disability Pension. We have never had that experience before," Mr Glasson said. "Supply has increased, so there has been a growth in the number of housing that's available … but affordability has tanked. "We've got havoc, we're there now, we actually need to be bold, and have that vision, we need a vision that says we're going to have so much social and affordable housing. Photo shows Gold Coast renters Jazlyn, Melanie and Nahla Misuraca smiling at the camera These are the nation's worst postcodes for renters, as well as the places hit with the biggest rent hikes since the pandemic. "We need a broader vision that says everyone is entitled to a house that they can afford, that's fit and safe and sustainable." A CommSec report this week crowned WA as the nation's best performing economy, but Mr Glasson said countless West Australians aren't seeing any benefit. "Yes we have a bustling economy that's really kicking ahead of the rest of the country, but the question that I would have to our leaders is 'what is that for if we can't house and feed our people'?" he said. Priced out Caitlin Beresford-Ord never imagined she and her family would find herself without a place to rent and reaching out to charities, friends and family members for assistance. Caitlin and her son Darcy could not afford an extra $190 a week for their rental. ( ABC News: Blake Kagi ) But when faced with a $190 per week increase in her long-term rental in the Perth suburb of East Victoria Park, she was left with little choice. She has been forced to move into her parents' house, with her 20-year-old son Darcy Stokes staying in a caravan provided by a friend, which is parked in the driveway of the home. "It's catastrophic, $190 a week, it's huge," Ms Beresford-Ord said. "We stopped private health insurance for quite some time, I had to make all sorts of decisions in order to accommodate that rental hike until we were able to move in here. "I can no longer afford to rent a place and keep my family together and I regularly work seven days a week." Darcy Stokes is living in a caravan parked outside his grandparent's house. ( ABC News: Blake Kagi ) Her son is balancing his studies with work at a fast food restaurant and says his biggest fear is never being able to move out and find a place of his own. "Probably just not being able to move out ever, unless I'm like living with 10 other people or something like that," Mr Stokes said. Exclusive new data shows skyrocketing rents have outpaced income growth in every regional area in Australia and all but one capital city. "None of my friends have moved out yet because it's basically impossible at this point anyway." Mr Glasson said despite so much focus on the cost of living in this year's state and federal election campaigns, the major political parties have failed to come up with long-term solutions to the rental crisis. "What we're seeing is lots of announcements … which are really welcome, they will put more houses on the ground," he said. "But we're talking about proportionality here and the scale of growth that's being projected is nowhere near enough. "The level of social and affordable housing in Western Australia is 3.7 per cent, it's dropped over the last 10 years, we need a bold government that says that's going to get to 6 per cent in this term." Loading
Yahoo
19-03-2025
- Business
- Yahoo
Thousands more eligible for Centrelink payment from today
Thousands more Aussie seniors are set to qualify for the Age Pension when changes come into effect on Thursday. Pension rates will be going up today, and so will the upper thresholds of the income and asset tests applied by Centrelink. To receive the Age Pension, you need to be at least 67 years old and pass an income test and an asset test. From today, the upper cut-off thresholds for these tests will increase. That means people will be able to earn more and have more assets and still be able to qualify for a part-pension. Part-pensioners are also entitled to the Pensioner Concession Card, which offers cheaper health care, medicines and discounts estimated to be worth more than a thousand dollars per year. RELATED Centrelink recipient hits out at 'pointless' $3.10 cash boost amid calls to drastically increase JobSeeker Centrelink cash boost to hit accounts this week: 'Critical' Tiny Aussie town offers $680,000 salary to attract one worker: 'More than just money' Here's a breakdown of the changes. Single pensioners will be able to earn a maximum of $2,510 a fortnight to qualify for a part Age Pension, up $9.20 a fortnight from $2,500.80. Couple pensioners will be able to earn a maximum of $3,836.40 a fortnight, up $14 a fortnight from $3,882.40. To get the full Age Pension, singles are only allowed to earn $212 per fortnight and couples $372 combined per fortnight. These figures don't include the work bonus scheme, which allows seniors to earn up to $300 a fortnight from employment before their pension is impacted. Single homeowners will be able to have assets of $697,000 to qualify for a part Age Pension, while single non-owner-owners can have $949,000. That's up $1,500 from $695,500 and $947,500 respectively. Couple homeowners will be able to have combined assets of $1,047,500 and get a part amount, while couple non-homeowners can have $1,299,500. The figures are up $2,000 from $1,045,500 and $1,297,500. To get the full Age Pension, singles are only allowed to have $314,000 as homeowners and $566,000 as non-homeowners. Couples are allowed to have $470,000 in assets as homeowners and $722,000 as non-homeowners to get the full amount. The Age Pension, along with other payments like JobSeeker, the Disability Support Pension, Carer Payment and the Parenting Payment will increase on today with regular indexation. The maximum single rate for the Age Pension will increase by $4.60 to $1,149 a fortnight, while the partnered rate will increase by $3.50 each to $866.10, or a combined $7 to $1,732.20 a fortnight. Social Services minister Amanda Rishworth said the small boost would hopefully help recipients dealing with cost-of-living pressures. 'Indexation is a critical part of our social security safety net,' she said. 'For pensioners and other payment recipients receiving this financial boost, this will help ease some pressure.'Sign in to access your portfolio
