More than five million Australians will get a fortnightly cash boost as social security payments are indexed from September 20. <\/p>\n
The maximum rate of Jobseeker Payment for a single recipient without children is set to climb by $16.20 to $833.70 per fortnight, while those on a pension will see the maximum rate increase by $36.80 for singles and $55.60 for couples. <\/p>\n
Fortnightly Parenting Payments will increase by $20.90 to $1,087.20 for singles, or an increase of $14.80 to $763.00 for partnered recipients.<\/p>\n
Social Services Minister Tanya Plibersek said the increased payments would benefit those who needed it most. <\/p>\n
\u201cWhether it\u2019s paying the rent, putting food on the table or covering everyday bills, this extra support will help Australians on income support make ends meet,\u201d Ms Plibersek said. <\/p>\n
\u201cWe\u2019ll continue to make sure the system is there to support those who need it most, ensuring that everyone can make ends meet and no one gets left behind.\u201d<\/p>\n
Rates and means-testing thresholds are indexed twice a year in Australia, typically in March and September, to ensure social security payments are aligned with cost of living benchmarks like the Consumer Price Index. <\/p>\n
Alongside the rate increases, the federal government has accepted the Australian Government Actuary (AGA) recommendation to lift social security deeming rates.<\/p>\n
Deeming rates are used to \u201cwork out income from financial assets\u201d for the purpose of the social security means test, according to the Department of Social Services. <\/p>\n
The assessment is designed to ensure government support is being directed at those who need it most. <\/p>\n
From September 20, the deeming rate will be updated to 1.75 per cent for financial assets up to $66,800 for singles, and $110,600 for couples with a rate of 3.75 per cent for any financial assets above the threshold.<\/p>\n","protected":false},"excerpt":{"rendered":"More than five million Australians will get a fortnightly cash boost as social security payments are indexed from…\n","protected":false},"author":2,"featured_media":646641,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[177],"tags":[273627,273664,273649,273656,273647,273650,273636,245093,273658,133001,153304,243547,272271,273630,273654,273641,273655,273651,273633,273653,13796,1128,13820,79,3731,46362,3914,6402,16740,18,125389,273628,10439,518,43255,273637,273640,10559,19,11387,206232,273643,17,43254,273662,273623,273659,273622,172719,273665,273639,273652,270277,273625,2987,234,235,273631,273635,85048,273648,33801,1078,28024,5577,1817,273661,273646,273645,273642,71469,273626,273663,273621,273629,273644,273657,273632,273660,260882,273634,273638,273624],"class_list":["post-646640","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-14-80-to-763-00","tag-16-20-to-833-70","tag-20-90-to-1","tag-36-80","tag-55-60","tag-087-20","tag-1-75","tag-245093","tag-3-75","tag-133001","tag-153304","tag-243547","tag-a-boost","tag-a-fortnightly-cash-boost","tag-a-pension","tag-a-rate","tag-a-single-recipient","tag-aga","tag-an-increase","tag-any-financial-assets","tag-aussies","tag-australia","tag-australians","tag-business","tag-cash","tag-cent","tag-children","tag-cost","tag-couples","tag-eire","tag-ends","tag-everyday-bills","tag-financial-assets","tag-food","tag-fortnight","tag-fortnightly-parenting-payments","tag-government-actuary","tag-government-support","tag-ie","tag-income","tag-income-support","tag-indexation","tag-ireland","tag-jobseeker","tag-jobseeker-and-pension-rates","tag-jobseeker-payment","tag-living-benchmarks","tag-march-and-september","tag-millions","tag-more-than-five-million-australians","tag-ms-plibersek","tag-newswire-politics","tag-no-one","tag-partnered-recipients-social-services-minister-tanya-plibersek","tag-pension","tag-personal-finance","tag-personalfinance","tag-rates-and-means-testing-thresholds","tag-rates-deeming-rates","tag-recommendation","tag-september-20","tag-singles","tag-social-security","tag-social-security-payments","tag-social-services","tag-test","tag-the-assessment","tag-the-consumer-price-index","tag-the-deeming-rate","tag-the-department","tag-the-federal-government","tag-the-increased-payments","tag-the-maximum-rate","tag-the-maximum-rate-increase","tag-the-purpose","tag-the-rate-increases","tag-the-rent","tag-the-social-security-means","tag-the-system","tag-the-table","tag-the-threshold","tag-this-extra-support","tag-twice-a-year"],"share_on_mastodon":{"url":"","error":"Validation failed: Text character limit of 500 exceeded"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/646640","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=646640"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/646640\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/646641"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=646640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=646640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=646640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}