Major Centrelink boost coming for over one million Australians – what you need to know
- A million Australians will get a Centrelink boost
More than a million Australians will get a Centrelink boost from tomorrow.
Australia’s youngest Centrelink recipients will see a 3.8 per cent increase in their payments on January 1, with the indexation significantly higher than the latest consumer price index of 2.8 per cent.
The youth allowance for teenagers under the age of 18 living at home will increase by $15 to $410.30 per fortnight – in line with the Abstudy rate for young people of the same age.
Those living and studying away from home, aged 18 to 24, will see their Youth Allowance or Austudy payment increase by $24.30 to $663.30.
The youth allowance applies to people between 16 and 21 years old who are looking for full-time work, for people between 18 and 24 years old who study full-time and for people between 16 and 24 years old who are doing an internship.
The disability pension for people living at home under the age of 18 will increase by $20.80 to $569.60.
Those aged 18 to 20 will get a boost of $23.10, taking it to $631.80.
Australians with disabilities who live independently will see their benefits increase by $30.10 every fortnight to $822.60.
More than a million Australians will get a Centrelink boost from tomorrow (pictured are students from the University of New South Wales)
Social Services Minister Amanda Rishworth said the indexation formula is aimed at helping Centrelink recipients cope with the cost of living
The informal caregiver allowance will increase by $5.80 every two weeks to $159.30, benefiting more than 600,000 people caring for a loved one.
The 3.8 percent increase is much more generous than recent inflation figures: annual inflation in the September quarter was 2.8 percent based on temporary $300 electricity rebates from the federal government, while underlying inflation was higher at 3.5 percent without an increase. -off factors.
The benefits are linked to the annual consumer price index for the June quarter, rather than the latest inflation data.
Social Services Minister Amanda Rishworth said the indexation formula was aimed at helping Centrelink recipients cope with the cost of living.
“We want to reduce disadvantage and maintain Australia’s strong and sustainable social safety net by reaching out to those most in need,” she said.
‘Indexisation adjusts payments to changes in the cost of living, so people have more money in their pockets.’