More than five million Australians will receive a boost of up to $41.50 a fortnight to their social security payments from today, with people on Commonwealth Rent Assistance set to have their payments boosted by $23 a fortnight. Source: News.com.au.
The changes will affect people on the Jobseeker Payment, who will have their payments increased by $15.30 a fortnight to $786.80 for singles and $28 to $1440.40 for couples.
JobSeeker recipients who only have an assessed partial capacity to work up to 14 hours will also move onto the higher rate, which will increase their payments by $71.20 a fortnight.
The parenting payment will be boosted by $19.80 a fortnight to $1026.30 for singles, and $28 to $1447.20 a fortnight for partnered households.
The biggest increases will affect the disability support pension, age pension and carer payment, which will increase by $28.10 for single recipients and $42.40 for couples to $1144.40 and $1725.20 a fortnight.
People on the maximum rate of the rental assistance packages will also get a $23 uplift to $211.20 for singles, and $43.60 to $398 for couples, with the changes including quarterly indexation rates and a 10 per cent boost.
Treasurer Jim Chalmers and Social Services Minister Amanda Rishworth acknowledged rents were “still too high” but hoped Labor’s 15 per cent increase to rent assistance payments were “taking some of the edge off”.
They also criticised the Coalition and the Greens rejecting Labor’s shared-equity Help to Buy scheme, which will not be voted on in the Senate for another two months.
While Labor says it will help up to 40,000 people access the housing market, the Greens have argued it will increase house prices, and put further pressure on renters.
The increase to social security payments comes ahead of the Reserve Bank’s interest rate decision on Tuesday, where it will announce whether it is hiking, cutting or holding the current cash rate of 4.35 per cent.
FULL STORY
Age pension, Jobseeker, Commonwealth Rent Assistance to get indexation cash boost from Friday (By Jessica Wang, News.com.au)
