- One million Australians are getting a Centrelink boost
More than a million Australians will receive a Centrelink boost from tomorrow.
Australia’s youngest Centrelink recipients will get a 3.8 per cent increase in their payments on January 1, with indexation significantly higher than the latest consumer price index of 2.8 per cent.
The youth allowance for teenagers under 18 living at home will increase by $15 to $410.30 per fortnight, in line with the Abstudy rate for those of the same age.
Those living away from home and studying, aged between 18 and 24, will see their Youth Allowance or Austudy payment increase by $24.30 to $663.30.
Beneficiaries of the Young Couple Allowance without dependent children also receive an increase of $24.30, which rises to $670.30 per fortnight with the energy supplement.
The youth allowance covers those aged 16 to 21 looking for full-time work, those aged 18 to 24 studying full-time and those aged 16 to 24 undertaking an apprenticeship.
The Disability Support Pension for children under 18 years of age living at home will increase by $20.80 to $569.60.
Those between 18 and 20 years old will receive an increase of $23.10, bringing it to $631.80.
More than a million Australians will receive a Centrelink boost from tomorrow (pictured, students at the University of New South Wales)
Social Services Minister Amanda Rishworth said the indexation formula was designed to help Centrelink recipients cope with the cost of living.
Disabled Australians living independently will see their payments increase by $30.10 a fortnight to $822.60.
The caregiver allowance will increase by $5.80 per fortnight to $159.30, benefiting more than 600,000 people caring for a loved one.
The 3.8 per cent increase is much more generous than recent inflation figures: the September quarter annual headline inflation rate was 2.8 per cent based on temporary $300 electricity rebates from the federal government, while the core inflation rate was higher, at 3.5 percent without a -Factors disabled.
Welfare payments 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 designed to help Centrelink recipients cope with the cost of living.
“We want to reduce disadvantage and keep Australia’s social safety net strong and sustainable by providing help to those most in need,” he said.
“Through indexation, payments are adjusted according to changes in the cost of living to ensure people have more money in their pockets.”