Pensioners to receive more assistance
A total of around $707 million in assistance will be going out to pensioners before the carbon price starts on 1 July.
Full and part pensioners will receive upfront household assistance payments of $250 for singles or $380 for couples combined. These payments will be paid straight into pensioners’ bank accounts over the coming few weeks.
Pensioners will receive ongoing annual household assistance from March next year, which will increase to keep pace with the cost of living.
About 2.1 million pensioners who are on the maximum rate of the pension will be better off by $134 a year for singles and $201 a year for couples on average – a buffer of more than 65 per cent against the expected impact of the carbon price.
And 93 per cent of pensioner households will be at least 20 per cent better off thanks to these new payments.
Millions of Australians are currently receiving household assistance payments from the Government with more than 1.6 million families to receive assistance of up to $110 for each child in families receiving Family Tax Benefit Part A and up to $69 for families receiving Family Tax Benefit Part B.
Self-funded retirees, veterans, students and other eligible payment recipients are set to receive increases in their payments before the end of June.
And in July, Australian workers will benefit from new tax cuts.
Pensioners can find out more by visiting australia.gov.au/householdassistance or by calling 132 300.