Over a million Australians will get a bump in their Centrelink payments from January 1 to keep it in line with the cost of living.
As stated in a report released by the Department of Social Services (DSS), Australians who benefit from Youth Allowance, Austudyt, ABSTUDY and Carer Allowance payments will all see an increase as indexation kicks in with the new year.
Under the Albanese Labor Government, payments are adjusted to match cost-of-living changes, ensuring a stronger social safety net. Social Services Minister Amanda Rishworth emphasised the government’s commitment to reducing disadvantage and easing financial pressures for those in need. “Indexation ensures that people receive more to cope with rising living costs,” she said.
Key increases include a $30.60 rise for single Youth Allowance recipients with dependent children, bringing their fortnightly maximum to $845.80, and a $24.30 increase for partnered recipients without dependent children, now totalling $670.30. Over 600,000 carers will see their Carer Allowance grow by $5.80, reaching $159.30 per fortnight.
Austudy recipients without dependents will also receive $670.30 fortnightly, while ABSTUDY Living Allowance for Masters and Doctorate students will increase to $1,285.40. Additionally, the parental income test threshold for Youth Allowance will rise to $65,189 annually.
Labor’s reforms also include reducing student debt by $3 billion, which could benefit up to three million Australians. Next year, the government plans further changes, including a 20 per cent cut to all student loan debts, raising the minimum repayment threshold, and reducing repayment rates.
You can find the complete list of payments increasing on 1 January 2025 on the Department of Social Services website.
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