Minister for Social Services Tanya Plibersek has revealed sweeping measures in a bid to ease cost-of-living pressures, with millions of Australians soon set to receive a boost in welfare payments. Source: Sky News Australia.
A number of rates, limits and thresholds will see a 2.4 per cent increase to “ensure they keep pace” with cost of living, Ms Plibersek announced.
Households collecting Family Tax Benefit Part and Part B payments will be among those covered, with rates to increase to up to $295.82 every fortnight.
Ms Plibersek said over 2.4 million people who receive welfare payments will be aided by the changes.
“Indexation keeps payment rates and thresholds in line with the wider economy and makes sure our social security system remains a safety net that Australians can rely on,” a statement from Ms Plibersek’s office said. .
More Australians will also be eligible for Paid Parental Leave (PPL) with income limits among the new measures.
People earning up to $180,007 annually can receive PPL under the new measures, as well as families with a taxable income of up to $373,094 per year.
Ms Plibersek has insisted that tackling cost of living pressures is a top priority for the Albanese Government.
“From 1 July, millions of recipients of social security payments will see more money in their bank accounts,” she said in the announcement.
“Payments like the Family Tax Benefit help cover the costs of raising children for many Australian families, and indexation is a crucial way to help families when cost-of-living rises.
Some of the other changes coming into effect on July 1 include increases to asset limits for JobSeeker Payment, Austudy, and Youth Allowance recipients.
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Social Services Minister Tanya Plibersek says millions of Australians to benefit from welfare payment changes as new measures announced (Sky News Australia)
