In August 2024, Centrelink will provide a $691 direct payment to help Australians in need. The government is expanding eligibility and adjusting thresholds to reach more people. Recipients should update their details with Services Australia for future updates.
– Australian Residency: Recipients should be citizens of Australia or permanent residents.
– Current Centrelink Beneficiary: The payment is targeted at individuals who are already receiving specific Centrelink benefits, such as the Age Pension, Disability Support Pension (DSP), or Family Tax Benefit (FTB).
– Income and Asset Tests: Beneficiaries must meet particular income and asset thresholds. For instance, the income threshold for receiving the full Age Pension has been slightly increased to account for inflation, allowing more pensioners to qualify for the payment.
– Single Pensioners: The income threshold before payments begin to taper has been raised from $204 to $212 per fortnight.
– Couples: The combined income free area has increased from $360 to $372 per fortnight. These changes allow recipients to earn slightly more without impacting their pension.
– Homeowners: The upper asset limit for a single homeowner has been increased by $12,250, allowing them to hold more assets before their pension is reduced or cut off entirely.
– Non-Homeowners: Similar adjustments have been made, ensuring that the thresholds are fair and reflect current economic conditions. – Couples: The asset threshold increase is even more significant at $18,500.
$691 payment will be directly deposited into recipients' bank accounts in August 2024. Eligible recipients will be notified of the payment date through MyGov accounts and official channels.
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