The government has announced a new Centrelink boost of $398 slated for August 2024, offering vital financial relief to the eligible recipients. This payment forms part of the wider cost-of-living support measures aimed at help low-income families, pensioners, and jobseekers struggling to make ends meet in view of rising expenses.
Why Is the $398 Being Introduced?
As the rising cost of living continues to affect the nation, an increasing number of families and individuals find themselves financially stressed. The Government decided to introduce this extra payment precisely to provide a helping hand to those most affected. The \$398 boost will thus provide much relief toward the payment for grocery bills, utilities, and health.
Who Is Eligible to Receive the Payment?
Recipient eligibility criteria for this $398 Centrelink payment boost depend on the payment already being received. Those expected to benefit include those on Age Pension, Disability Support, JobSeeker Payment, and Parenting Payment. Permanent residents and citizens who satisfy Centrelink criteria automatically qualify for payment, and therefore some concession card holders may be eligible as well.
Mode of Payment for the Boost
Centrelink will credit the $398 to the bank account of an eligible Centrelink recipient. Being a one-off payment, recipients will not be required to apply separately for it. The payments will be displayed alongside regular entitlements in order to expedite distribution to seniors, jobseekers, and families.
Payment Timeframes
The deployment is expected to begin in August, with stages of payment across the month. After the payment is processed, recipients will receive notifications through their myGov accounts. Further, the government has enforced a commitment that all eligible Australians shall get the boost before the end of August.
Impact on Households
A $398 boost will serve as an important short-term relief for many households. Though not permanent, it will enable Australians to get through an immediate crunch time. It will certainly make a difference in day-to-day budgeting, especially for senior citizens and low-income families.
Centrelink’s Future Support
The government has also said that it would keep reviewing Centrelink payments regularly, depending on inflation and wage growth. This is a one-off payment, which might again be re-adjusted this September, making sure that the support stays true to its economic changes.