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$750 payments to pensioners due from 31 March 2020 – Coronavirus stimulus

Posted on March 22, 2020 by 60+Club

Coronavirus stimulus: $750 payments to pensioners due from 31 March 2020

Aged pensioners will get a one-off $750 payment as part of the Federal Government’s stimulus package announced last week.

6.5 million people are expected to receive the payment, including 2.4 million pensioners.

This includes people on the Age Pension, Newstart, the Disability Support Pension, Carers’ Allowance, Youth Allowance, Veterans’ Affairs payments, Family Tax Benefit and those holding a Pensioner Concession Card or Commonwealth Senior Health Card.

The Federal Government has also reduced deeming rates by a further 0.25 per cent. (Learn more on deeming rates here).

 

Time frame when payments will be transferred to your account

The payment will start to flow into bank accounts from March 31, with over 90 per cent of payments expected to be made by mid-April.

The payment will be tax free and will not count as income for Social Security, Farm Household Allowance and Veteran payments. There will be only one payment per eligible recipient.

People who already receive these payments or hold these cards will get the cash automatically.

You don’t need to do anything.

 

Eligible payments include:

  • Age Pension
  • Disability Support Pension
  • Carer Payment
  • Carer Allowance
  • Parenting Payment
  • Wife Pension
  • Widow B Pension
  • ABSTUDY (Living Allowance)
  • Austudy
  • Bereavement Allowance
  • Newstart Allowance
  • Youth Allowance
  • Partner Allowance
  • Sickness Allowance
  • Special Benefit
  • Widow Allowance
  • Farm Household Allowance
  • Family Tax Benefit A
  • Family Tax Benefit B
  • Double Orphan Pension
  •  

    You’ll also get the payment if you have 1 of the following concession cards:

  • Pensioner Concession Card
  • Commonwealth Seniors Health Card
  • Veteran Gold Card
  •  

    You’ll also get the payment if you get 1 of the following Department of Veterans’ Affairs payments:

    • Veteran Service Pension
    • Veteran Income Support Supplement
    • Veteran Compensation payments, including lump sum payments
    • War Widow(er) Pension

     

    You’ll only get 1 payment, even if you get more than 1 qualifying payment or card.

     


    Important note: Make sure we have your right details so the Government can pay you. The easiest way to do this is by using either:

    • your Centrelink online account through myGov
    • the Express Plus Centrelink app

    If you don’t have an online account, you can phone us on your regular payment line.


     

    The payments will cost a total of $4.8 billion and were part of the Government’s first stage of the now second-stage $66 billion economic stimulus package – to shore up the Australian economy as the world deals with the significant challenges posed by the spread of the coronavirus (COVID-19).

    The total economic assistance package is worth $189 billion, according to the Government, equivalent to 9.7 per cent of Australia’s gross domestic product.

    “We cannot prevent all the many hardships, many sacrifices that we will face in the months ahead,” Mr Morrison said.

    “And while these hardships and sacrifices may break our hearts on occasion, we must not let them break our spirit and we must not let them break our resolves as Australians.”

    For more information, visit the Government website here

     

    Source:
    – Australian Government website, A $750 one off Economic Support Payment. 12 March 2020 Read more


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