Millions of Australians on Centrelink are getting the biggest cash boost in 30 years to help fight the rising cost of living – here’s how much you could get
- Centrelink certificates are set to get their biggest boost in 30 years to fight inflation
- The pension will also get its biggest indexation push in 12 years to help the elderly
- Treasurer Jim Chalmers admitted life will still be “tough” despite the increase in welfare
Centrelink payments get their biggest increase in 30 years to help recipients cope with rising living costs.
Recipients of job seekers over the age of 22 who have no children receive an additional $25.70 every two weeks, while couples receive an additional $23.40.
The parent payment is also increasing, with singles getting $35.20 more every two weeks and couples getting $23.40 more.
This represents the largest increase in bonuses in three decades, while pensions will also receive their biggest indexation boost in 12 years.
It comes as inflation continues to rise across the country, the rate now stands at 6.1 percent and is expected to rise to a 30-year high of 7.75 percent by the end of the year.
Centrelink payments get their biggest increase in 30 years to help recipients cope with rising living costs
Centrelink allowances and pensions are being boosted massively under Anthony Albanese’s government
Retirement and disability benefits and carer pay will increase dramatically, with singles getting $38.90 more every two weeks and couples $58.80 more.
The top rate of an annuity will increase, with singles receiving $1,026.50 every two weeks and couples receiving $1,547.60.
Treasurer Jim Chalmers said the increases are crucial to easing pressure on the cost of living.
“That’s why they’re indexed twice a year, and every little bit helps,” he said.
“This indexation will be particularly large this month because inflation is a particular challenge.”
Mr Chalmers acknowledged that “times will still be tough for a lot of people”.
“And we know it won’t solve every problem for everyone, but it’s important that we try to make sure those payments are sustained,” he said.
“That’s what indexing is all about. It will be welcome even as we recognize that times will still be tough for many people.’
Edwina MacDonald, acting chief executive of the Australian Council of Social Service, said more money was needed to help recipients.
Treasurer Jim Chalmers said the increases are key to easing pressure on the cost of living (Image, Centrelink queue).
Centrelink Payment Boost
Centrelink allowances will get their biggest boost in 30 years, while pensions will also see their biggest indexation increase in 12 years.
Below is a list of how much fortnightly payments should increase:
Old Age and Disability Support Pension and Carer’s Allowance
Single: $38.90 ($1,026.50)
Pairs: $58.80 ($1547.60)
Single: $25.70 ($677)
Pairs: $23.40 ($616.60)
Single: $35.20 ($927.40)
Pairs: $23.40 ($616.60)
“It’s really just a drop in the bucket at this point, and with non-discretionary inflation higher than CPI, they’re still going down what they can afford right now,” she said.
“So right now a job seeker is $46 a day, child support is $38 a day, and what we need to get it to the poverty line is to get it to at least $70 a day.”
The rise comes with a further rise in the cost of living when the temporary fuel tax freeze ends on September 29.
Mr Chalmers has ruled out extending the tax cut introduced by former Prime Minister Scott Morrison.
“It would be too expensive to continue this fuel price reduction indefinitely,” he said.
“I think Australians understand that we have inherited a budget swamped with $1 trillion in Liberal Party debt and that means some tough decisions, including this one.”
The price of petrol will skyrocket for Australian motorists by the end of the month as those filling up a 60-litre tank will have to pay an extra $15 at the pump
WHY IS FUEL GOING MORE EXPENSIVE?
From September 29, the government will end its fuel tax relief program, which saw the fuel consumption tax reduced from 44 cents to 22 cents.
The 50 percent cut cost taxpayers $3 billion.
The fuel relief program was introduced in March to combat the cost-of-living crisis as petrol prices soared after Russia’s bloody invasion of Ukraine.
But the six-month period will soon be over and Anthony Albanese’s government will raise the tax again.
Familys If you fill up two cars once a week, you’ll pay about $30 more per week, or an additional $700 over six months.