Latest news with #PensionerConcessionCard
Yahoo
5 days ago
- Business
- Yahoo
Centrelink age pension changes coming into effect from July 1
Millions of Australians stand to benefit from changes to the age pension coming into effect from July 1. While payment rates aren't going up, increased income and asset thresholds mean thousands more could be entitled to benefits and others may get bigger payments. To receive the age pension from Centrelink, you need to be 67 years or older and pass an income and asset test. From July 1, the thresholds for these tests will increase by 2.4 per cent to ensure they keep pace with the cost of living. That means people will be able to earn more and have more assets before their payments are affected. It also means some people may be able to qualify for the pension for the first time. RELATED Centrelink cash boost coming from July 1 for millions of Aussie Centrelink issues urgent deadline warning for lump sum payment ATO superannuation warning as deadline for $30,000 deduction fast approaches The age pension is currently $1,149 per fortnight for singles, including supplements, and $1,732.20 combined for couples. Payment rates increase twice a year in March and September. Around 2.6 million people receive the age pension in Australia. Receiving the payment means you'll also be eligible for the Pensioner Concession Card, which gives you access to cheaper medicine, bulk-billed doctor visits, and state, territory and local government benefits. Singles will be able to earn $218 a fortnight, up $6 a fortnight from $212, and still be eligible for the full pension. Each $1 over the threshold reduces the pension by 50 cents a fortnight until it hits the new cut-off limit of $2,516 a fortnight. Couples will be able to earn $380 a fortnight, up $8 a fortnight from $372, and get the full amount. The new cut-off limit will be $3,844.40 per fortnight. Income includes employment income, along with income from other sources such as financial assets like super and savings accounts. Under the Work Bonus, pensioners can earn up to $300 of employment income in a fortnight without it affecting their pension. Single homeowners will be able to have assets of $321,500 and receive the full pension, up from $314,000. Couples will be able to have $481,500, up from $470,000. The cut-off threshold to receive a part pension will increase to $704,500 from $697,000 for singles, and to $1,059,000 from $1,047,500 for couples. Single non-homeowners can have assets of $579,500, up from $566,000 and get the full pension, while couples can have $739,500, up from $722,000. The cut-off thresholds will increase to $962,500, up from $949,000, for singles, and $1,317,000, up from $1,299,500 for couples. Assets include things like cars, business assets, property (not including your primary residence), your superannuation balance, investments and private trusts and private companies. The deeming thresholds will also increase on July 1. Deeming rates are used to estimate how much income you earn from your financial assets each year, instead of calculating your actual returns. For singles, the lower threshold will increase to $64,200, up from $62,600. For couples, the lower threshold will increase to $106,200, up from $103,800. Amounts up to the lower threshold will be deemed to have earned an interest rate of 0.25 per cent, while amounts above have a rate of 2.25 per cent. The change means a bigger portion of your income will be assessed at the lower rate. This may mean some people may be entitled to slightly bigger nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati
Daily Mail
6 days ago
- Business
- Daily Mail
The little-known Centrelink benefit that could save you hundreds in minutes
A hardworking single mum has shared how she saved $800 from a little-known Centrelink benefit by making one phone call. Mother-of-three Alyce Verade, 37, couldn't believe her luck when she learned she was eligible for a refund on her car registration and licence fee. The Blue Mountains mum told her thousands of followers on TikTok she was expecting a refund worth more than $800 a year. 'I'm going to get a cheque in the mail for over $800 just by making a simple phone call,' she said. 'If you are a single parent in NSW, call Service NSW and try and get your money back.' The refund consisted of $692 for her car registration fee and a partial refund exceeding $200 for her driver's licence. Ms Verade said the process was painless and took no more than ten minutes. It was a helpful lifeline for the single mum who told Yahoo Finance she works three casual retail jobs while also working as a teacher's aide. 'That $800 is going to go towards the kids, that's where all the money always goes. So groceries, bills and school clothes is where the funds will go,' she said. Recipients of a range of Centrelink payments, including the Age Pension, Carer Payment and Disability Support Pension are entitled to a Pensioner Concession Card. Those eligible do not need to apply as Centrelink will automatically send it. It is also available to recipients of the JobSeeker Payment and Youth Allowance who are single and caring for a dependent child and looking for work. Benefits of the card vary between states but in many cases extend to cheaper healthcare, discounted electricity and gas bills and lower water and property rates. In Ms Verade's case, she has held the card since December 2023 as a recipient of the Parenting Payment single. Now, she wants to spread the word that there's help out there for countless Aussies in her position. 'One of my friends, I contacted as soon as I found out,' she told Yahoo Finance. 'She's getting $500 back.'
Courier-Mail
7 days ago
- Business
- Courier-Mail
Little-known Centrelink rule that could save you $800
A single mum from the Blue Mountains has shared how a simple phone call saved her more than $800 a year. Alyce Verade, a 37-year-old mother of three, discovered she was eligible for a refund on her car registration and licence fees, thanks to a little-known benefit associated with Centrelink's Pensioner Concession Card. Verade, who receives the Single Parenting Payment, has held a Pensioner Concession Card since December 2023, according to Yahoo Finance. She stumbled upon this financial lifeline during a conversation with her hairdresser, who mentioned the potential for refunds. Intrigued, Verade contacted Services NSW to verify her eligibility. To her surprise, Verade – who has shared her story on TikTok – was informed that she qualified for a refund of her $692 car registration fee, along with a partial refund exceeding $200 for her driver's licence. MORE NEWS Big blow for anyone who isn't a millionaire Shock salary you now need to buy a home Great Aussie dream crushed by cost surge The total refund amounted to more than $800, a significant sum for the mum-of-three, who expressed her gratitude for the unexpected windfall. 'They were so helpful. It was over and all done within 10 minutes,' Verade told Yahoo Finance. 'She asked a few questions and had to know my Centrelink number and my last transaction with Service NSW.' For Verade, every bit of extra cash is welcome, especially when it can be directed towards her children's needs. For others, it could provide a lifeline to help cover rent and mortgage expenses. Based on the average $640,000 home loan and 5.5 per cent interest mortgage repayments, an $800 a year refund could provide $29,555 in savings over the life of a loan. Homeowners would also be able to pay off their loan 16 months earlier. For those renting, an $800 a year refund would provide around $40 in savings a week. Centrelink's Pensioner Concession Card provides Australians with access to a variety of benefits, including cheaper medicine and bulk-billed doctor visits. In New South Wales, eligible cardholders can enjoy additional perks such as free car registration and licences. Service NSW confirmed that current Pensioner Concession Card holders are entitled to exemptions from registration fees, motor vehicle tax, conditional registration fees, transfer fees, and stamp duty. The rules, however, vary across states and territories. In Victoria, Pensioner Concession Card holders receive a 50 per cent discount on their motor vehicle registration fee. Meanwhile, in Queensland, similar concessions are available to reduce vehicle registration costs.
Yahoo
06-06-2025
- Business
- Yahoo
Kmart shopper stunned over little-known discount available to millions: ‘Did not know'
A Kmart shopper has shared the little-known discount that is available to millions of shoppers each month. The rule means you can get 5 per cent off your shopping bill, but many people don't know about it. Brisbane shopper Cecillia Therese said she recently found out the retailer offers a Pensioner Discount Day each month. The 27-year-old told Yahoo Finance she didn't know the discount existed and heard about it from a worker at the checkout. 'I need to know if this is a thing everywhere because I did not know about this,' she said. RELATED Coles shopper saves $1,000 a year after discovering supermarket secret that works 'every time' $4,400 ATO car tax deduction that most Aussies miss: 'Easy win' Centrelink $1,011 cash boost for Aussie farmers doing it tough: 'Get back on track' Kmart's Pensioner Discount Day happens on the first Wednesday of every month and gives eligible customers a 5 per cent discount off their shopping bill. A Kmart spokesperson confirmed to Yahoo Finance that the discount was offered in all stores all year round. The discount is available for those with a Commonwealth Government Pensioner Concession Card or Commonwealth Government Department of Veterans Affairs Health Card only. Commonwealth and State seniors cards are not accepted under the offer. Cecillia said she thought the 5 per cent discount was a good idea. 'We're in the middle of a cost-of-living crisis and I have many family members and friends who are in receipt of pension cards for many different reasons,' she said. 'Kmart, usually like many people, is their first point of contact when it comes to shopping for clothes, homeware, toys etc at an affordable price.' Cecillia shared a TikTok about the discount, which has racked up thousands of views. While some knew about the discount, others said they had no idea. 'I was at Kmart, no one told me,' one person wrote. 'What!! I have a pension card and shopped there today. I was at self-checkout, though,' another said. 'I've never heard of this!' another added. Cecillia said she was surprised Kmart wasn't proactively marketing the discount on the days it was running. 'It seems like a missed marketing opportunity on their part. I think any initiative by multimillion-dollar corporations to help everyday people save money is good,' she in retrieving data Sign in to access your portfolio Error in retrieving data
Yahoo
27-05-2025
- Business
- Yahoo
Little-known Centrelink benefit gets Aussie single mum $800 cash boost: ‘Done in 10 minutes'
A single mum has shared how she saved more than $800 by making one phone call. The mum-of-three said every bit of extra cash was welcome right now and would go towards costs for her kids. Centrelink's Pensioner Concession Card gives Aussies access to a range of benefits, including cheaper medicine, bulk-billed doctor visits, along with perks from certain states and territories. In New South Wales, this includes free car registration and free licences for eligible cardholders. Alyce Verade told Yahoo Finance she was able to get a refund on her car rego and licence fees through this little-known rule. RELATED Centrelink warning as Aussie parents risk losing $100 a day for child care subsidy: '63-day grace period' ATO warning ahead of $1,288 cost-of-living cash boost: 'Shooting yourself in the foot' $3 million superannuation tax change sparks property warning as 'panic' selling begins 'I was so shocked that I was eligible for that,' the Blue Mountains mum said. Verade receives the Single Parenting Payment and has had a Pensioner Concession Card since December 2023. The 37-year-old heard about the rule through her hairdresser and rang up Services NSW to check if she was eligible. They told her she could get a refund on her $692 car registration, plus a partial refund of more than $200 for her driver's license due to when she received her Pensioner Concession Card. This totalled a refund of more than $800.'They were so helpful. It was over and all done within 10 minutes. She asked a few questions and had to know my Centrelink number and my last transaction with Service NSW,' Verade said. Services NSW confirmed to Yahoo Finance that those with a current Pensioner Concession Card were eligible for pensioner benefits. That included exemptions from registration fees, motor vehicle tax, conditional registration fees, transfer fees, and stamp duty. Eligible pensioners can also receive free licences, driving tests, riding skills tests, and other licence-related fees. The rules differ depending on your state or territory. In Victoria, Pensioner Concession Card holders are eligible for a 50 per cent discount on their motor vehicle registration fee. In Queensland, Pensioner Concession Card holders are also eligible for concessions to reduce the cost of registering a vehicle. Fees for concession card holders can be found here. You can get a Pensioner Concession Card if you get certain payments from Services Australia. That includes the Age Pension, Carer Payment, Disability Support Pension, JobSeeker or Youth Allowance if you are single, caring for a dependent child and looking for work, and the Parenting Payment single. You don't need to apply for a Pensioner Concession Card, Services Australia will send you one if you are eligible. State and territory governments and local council areas offer benefits to people with a Pensioner Concession Card. For example, you may be able to get lower rates for electricity and gas bills, property and water rates, healthcare costs, public transport fares or motor vehicle registration. You can find out about the concessions available in your state and territory here: Australian Capital Territory - Cost of living support New South Wales - NSW Government Community Support Northern Territory - NT Pensioner and Carer Concession Scheme Queensland - Concessions South Australia - Disability concessions and entitlements Tasmania - Discounts & concessions Victoria - Concessions & benefits Western Australia - Concessions available Verade said the $800 refund would provide extra relief for her budget. She currently works three casual jobs in retail and as a teacher's aide, and has three kids aged 7, 6 and 3. 'That $800 is going to go towards the kids, that's where all the money always goes. So groceries, bills and school clothes is where the funds will go,' she told Yahoo Finance. Verade said she would absolutely encourage other Aussies to check what benefits they were entitled to and it could just take a single phone call to save hundreds. "One of my friends, I contacted as soon as I found out. She's getting $500 back," she said. 'People who are on the pension, whether that be on the single parenting, disability or age pension, there are things out there to help us to make our day-to-day life easier for us."Error while retrieving data Sign in to access your portfolio Error while retrieving data
