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Almost a million Australians on Youth Allowance, Austudy, Disability Pension and more set to see new year cash boost

Almost a million Australians on Youth Allowance, Austudy, Disability Pension and more set to see new year cash boost

Read Time:1 Minute, 15 Second

Almost a million Australians are set to see a cash boost in the new year, as indexation to government payments takes effect from January 1.

More than 936,000 Australians receiving youth, student or carer support will see a 6 per cent boost to their payments.

The increases to payments ensure that Australians receiving support can navigate cost of living pressures, Minister for Social Services Amanda Rishworth said.

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“Australia’s social security system is a safety net that is continually strengthened and improved to support all vulnerable Australians,” Rishworth said.

“Through regular indexation, our payments are adjusted in line with changes in the cost of living to retain their purchasing power.”

Youth Allowance payments are set to increase between $22.40 and $45.60 a fortnight, while Austudy payments will increase by between $36.20 and $45.60 a fortnight.

The Disability Support Pension for Australians aged under 21 years will also increase by $31.10 to $44.90 a fortnight.

Carer Allowance will increase to $153.50 a fortnight for more than 600,000 carers.

The January 1 increases follow on from a $40 a fortnight increase to youth and student payment rates, effective from September 20.

The indexation increase is putting more money into the hip pockets of Australians who rely on the social security system for support, Rishworth said.

A complete list of January 1 payment increases can be found on the Department of Social Services website.

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