Around 5.1 million Australians are set to receive two $250 payments.
The payments were originally unveiled as part of the 2020-21 budget and have now been rubber-stamped.
They are set to be paid progressively from 30 November 2020 and the second from 1 March 2021.
Those eligible for the handout include aged and disability pensioners, veterans, people on carer payments and family tax benefit recipients, as well as (CSHC) and pensioner concession cardholders.
“We can now deliver more practical support to older Australians, families and young people through these targeted, temporary initiatives in our social security system,” Minister for Families and Social Services Anne Ruston said.
The payments are set to support more than 2.5 million Age Pensioners, about 400,000 self-funded retirees with a more than 1 million people with disabilities and carers, and 760,000 low-income families.
National Seniors Australia has advised self-funded retirees to check their eligibility for the handout too.
The country’s peak consumer group for older Australians says tens of thousands of self-funded retirees may be under the impression they don’t qualify for the CSHC – when they do.
Changes to deeming rates used as part of the CSHC income test have improved eligibility for the card, and therefore the budget stimulus payments.
Who can get it
These are are the official details from the Australian Government.
You need to get certain payments to get the Economic Support Payment.
We’ll pay 2 more Economic Support Payments, 1 from December 2020 and 1 in March 2021. You must get an eligible payment or concession card and be living in Australia to get the payments.
We’ll pay the Economic Support Payments straight into your bank account.
If you have a Cashless Debit Card we’ll pay the Economic Support Payments onto your card. If you’re income managed, the payments will be 100% income managed.
Generally, you won’t get the Economic Support Payment if you get $1 or more of the Coronavirus Supplement.
You’ll get the payment if you get one of the following:
- Age Pension
- Carer Allowance
- Carer Payment
- Commonwealth Seniors Health Card
- Disability Support Pension
- Double Orphan Pension
- Family Tax Benefit
- Pensioner Concession Card
You need to get an eligible payment or have an eligible card on:
- 27 November 2020 to get the December 2020 payment
- 26 February 2021 to get the March 2021 payment.
If you claim Family Tax Benefit for 2020-21 as a lump sum, you’ll get the payment with your lump sum. This will be after you’ve claimed and confirmed your income for the 2020-21 financial year.