Centrelink has revealed significant updates to its payment systems for 2024, aimed at providing crucial support to Australians facing the economic challenges of rising living costs. These adjustments, which include higher payment rates, updated eligibility criteria, and early holiday disbursements, are part of the government’s ongoing efforts to assist those who need it most.
Whether you’re receiving Age Pension, JobSeeker, or other forms of financial support, it’s essential to understand these changes to manage your finances effectively. Here’s an overview of everything you need to know about the new updates, increased payments, and eligibility modifications.
Overview of Key Changes
Aspect
Details
Payment Increases
Age Pension: $1,064.30 for singles; $1,604.50 for couples.
New Reporting Deadlines
Adjusted due to public holidays in December 2024 and January 2025.
Eligibility Updates
Age Pension now requires applicants to be at least 67 years old; income/asset tests remain unchanged.
Energy Rebates
$300 rebate for eligible households to help with rising energy costs.
Rent Assistance
Maximum Commonwealth Rent Assistance increased by 10%.
Service Centre Closures
Offices closed on key holidays (December 25, 26, January 1); online services available via myGov.
Support for Families
Increased Family Tax Benefit payments for eligible families.
Digital Access Updates
Enhanced features on myGov for easier navigation and reporting.
Centrelink’s payment adjustments for 2024 aim to provide essential financial relief to millions of Australians. These changes, from higher Age Pension rates to energy rebates and new reporting deadlines, are designed to help households navigate increasing living costs. Enhanced Family Tax Benefits and improved access to digital tools ensure that support remains easily accessible to all.
Key Payment Dates
With public holidays affecting payment schedules, Centrelink has made adjustments to ensure no one faces delays:
Payments due on December 25: Disbursed on December 24.
Payments due on December 26 and January 1: These will be made earlier to accommodate holiday closures.
Tip: If you need to report income or other details, be sure to do so by the updated deadlines. For instance, if your usual reporting date is December 25, submit your report by December 23 via myGov.
Payment Increases
To address the rising cost of living, Centrelink has raised the payment rates for several support programs:
Single recipients: Increased from $1,044.70 to $1,064.30 per fortnight.
Couples (combined): Increased from $1,577.50 to $1,604.50 per fortnight.
Commonwealth Rent Assistance
Maximum rates have risen by 10%, providing additional support for eligible renters.
JobSeeker Payment
Specific rates vary, but indexed increases have been made to help recipients keep up with inflation. For example, a single JobSeeker without children now receives an additional $40 per fortnight compared to early 2024 rates.
Family Tax Benefit
Part A: Increased by up to $20 per fortnight per child.
Part B: Single-parent families now receive an additional $15 per fortnight.
Updated Eligibility Criteria
There are also changes to eligibility for several key programs:
Age Pension
Age Requirement: Now set at 67 years for new applicants.
Residency Requirement: Applicants must meet specific residency rules.
Income and Asset Tests: No changes to thresholds.
JobSeeker Payment
Age Range: 22 years to Age Pension age.
Income and Asset Tests: Ongoing reviews to ensure eligibility.
Commonwealth Rent Assistance
Eligibility remains based on rental and income support criteria, with increased rates providing more relief for those in high-cost areas.
Family Tax Benefit
Eligibility: Must have dependent children and meet specific income thresholds.
Apply through myGov or the Services Australia portal.
Additional Support Measures
The government has introduced extra relief initiatives to help households with everyday expenses:
Eligible households can access a $300 rebate to offset rising energy costs. Applications can be made via the Department of Energy’s website.
Financial Counselling Services
Free financial counseling is available for those struggling to manage finances, especially during the holiday season. MoneySmart offers reliable tools and advice.
Digital Tools and Access
The myGov platform has received improvements for easier navigation. The mobile app also offers convenient access to manage your Centrelink account on the go.
How to Prepare for Early Payments
When payments are made early, it can result in a longer-than-usual gap between disbursements. To stay financially stable:
Plan Your Budget
Ensure you account for the longer interval between payments, especially if you receive your December payment early. Use budgeting tools like the ASIC MoneySmart Budget Planner.
Monitor Your Expenses
Focus on essentials during the holiday season to avoid overspending. Consider low-cost gift options and free activities to stay within budget.
Use Online Tools
Track payments, report income, and manage your account through myGov for easier management.
Explore Additional Benefits
Check if you qualify for other government programs like childcare subsidies or healthcare concessions.
Frequently Asked Questions
When will my payment arrive if my usual date falls on a public holiday? Payments will be made earlier, such as a December 25 payment being processed on December 24.
How do I report income during the holiday season? Income reports can be submitted via myGov, following updated reporting deadlines.
Am I eligible for the energy rebate? Eligibility depends on household circumstances. Visit energy.gov.au for more information.
How can I check my eligibility for Rent Assistance? Log into your Centrelink account through myGov or contact Centrelink to verify your eligibility and payment details.
Are there any new benefits for families? Yes, the Family Tax Benefit has been increased for eligible families with dependent children.
Do these changes affect my tax obligations? No significant changes to tax obligations have been announced, but always ensure you declare payments and rebates accurately during tax filing.
Centrelink’s updates provide vital assistance for Australians navigating the financial pressures of 2024.