As inflation is at its peak across the world, the cost-of-living is increasing day-by-day. Due to which, the government of Australia decided to propose an increase in the amount of cost-of-living payment. An increase in the amount of Centrelink payments will allow people to boost their quality of living.
To alleviate some financial strain from the people of Australia who are suffering from financial pressure. Let’s get into the details of the cost-of-living benefit payment in the article below. The below article consists of a new cost-of-living amount, eligibility criteria and payment dates.
Australia Cost of Living Payment 2024 Changed by Centrelink
The increase in cost-of-living payment will show a difference in all the financial benefits proposed by the Centrelink. The step social service Australia has taken is very crucial in providing a better life to their citizens, amid inflation. People who are unemployed are entitled for the “Youth Allowance Benefits”. Whereas, old age people will see an increase in their old age pension.
Similarly, low-income families who are suffering from inflation are entitled to receive tax benefits which will help them to raise their children. Single Individuals will see an increase of 8 dollars in their cost-of-living payments. However, couples will see an increase of 12 dollars in their cost-of-living payments. Detailed information is mentioned in the below article.
Highlights of Australia Cost of Living Payment 2024
| Title | Australia Cost of Living Payment |
| Country | Australia |
| Authorization | Social Service Australia, Centrelink |
| Benefit Name | Cost-of-living payments |
| Recipients | Low-income families and individuals, old age people, unemployed citizens, disabled people |
| Post Category | Finance |
| Official Portal | Service Australia |
Eligibility Criteria
To become eligible for the Centrelink cost-of-living payments, candidates have to meet this below eligibility standard:
- Age: People applying for these benefits must be in the state pension age,i.e., 65 to 67 years old.
- Citizenship: Applicants must have the citizenship of Australia and are residing in the country for at least more than 10 years.
- Income and Asset Tests: People applying for the payment have to go through the income and asset tests. It ensures your financial eligibility for the benefit.
The income criteria is different for both singles and couples, please see the below tables to know about the reduction of payment if your income exceeds the threshold:
Single Individuals
| Income Per Fortnight | Reduced payment amount |
| Up to $204 | $0 |
| Over $204 | 50 cents for each dollar if income is above $204 |
Couples
| Combined Income Per Fortnight | Reduced Payment Amount |
| Up to $360 | $0 |
| Over $360 | 50 cents for each dollar if combined income is above $360 |
Application Process
Citizens who are already receiving the benefits need not to apply again, they will see the changes automatically in their payments. People who are new and haven’t registered yet through an application process can follow these below steps:
- Visit the official website of Centrelink Australia.
- Select the benefits section and choose the benefit you want to apply for.
- You will be redirected to an application form, fill the form with accurate details and submit it after rechecking all the documents and details mentioned by you. It includes your personal and bank details.
- After receiving your application, the Centrelink will verify the application form to check your eligibility.
- Wait for sometime, the officials will get to you with a written letter. The letter will consist of the details about your payment dates and payment amount, if you qualify the verification process successfully.
Payment Amounts 2024
- Jobseeker Payment Amount 2024: The jobseeker payment details are mentioned below:
| Status of Citizen | Job Seeker Payment Amount 2024 |
| Single and having no Child | $762.70 |
| Single with age 55 Years or more | $816.90 |
| Single and Principal carer of a dependent child of age less than 16 | $987.70 |
| Single and have a dependent child | $816.90 |
| Couple | $698.30 |
- Age Pension Amount 2024: The age pension amount is mentioned below in the table:
| Rates | Fortnightly rates | Single | Each Couple | Couple Together | Couple separated due to illness |
| Normal Rates | Maximum Basic Rate | $1020.60 | $769.30 | $1538.60 | $1020.60 |
| Normal Rates | Maximum Pension Supplement | $81.60 | $61.50 | $123.00 | $81.60 |
| Normal Rates | Energy Supplement | $14.10 | $10.60 | $21.20 | $14.10 |
| Normal Rates | Total | $1116.30 | $841.40 | $1682.80 | $1116.30 |
| Transitional Rates | Maximum Rate | $908.80 | $734.00 | $1468.00 | $908.80 |
| Transitional Rates | Energy Supplement | $14.10 | $10.60 | $21.20 | $14.10 |
| Transitional Rates | Total | $922.90 | $744.60 | $1489.20 | $922.90 |
- Parenting Payment Amount 2024: People who are facing issues in providing a healthy life to their children can check the payment details in the below table:
| Status | Parenting Payment Amount 2024 |
| Single | $987.70 |
| Couple | $698.30 |
| Couple separated due to illness | $816.90 |
FAQs of Australia Cost of Living Payment 2024
People who are citizens of Australia who belong from a low-income family are eligible for the Centrelink payment. Additionally, senior individuals, jobseekers, unemployed, disabled are also eligible for the benefit.
People who are eligible for the state pension must be at least 65 years old and above.
Inflation is the main reason for this increment. To alleviate some financial stress from the needy people is the main motive of this increment in the cost-of-living payments.
Sarah M. Thompson graduated with a degree in International Relations from Harvard University. Writing for Information Dissemination WebNews, she explores the complexities of global diplomacy, covering both emerging and ongoing international conflicts.