$750 Stimulus Payment to Pensioners and Social Security Recipients.
From the 31st March 2020, the Australian Government will make a $750 one-off payment to people receiving certain Australian Benefit payments.
The stimulus beneficiaries include those who receive the Age Pension, Newstart, Youth Allowance, Austudy, Disability Support Pension, Carers Payment and Family Tax Benefits. It will also include those who hold a Commonwealth Senior Health Card.
Stimulus payments to households to support growth.
$4.8 billion to provide a one-off $750 stimulus payment to pensioners, social security, veteran and other income support recipients and eligible concession card holders. Around half of those that will benefit are pensioners.
The payment will be tax free and will not count as income for Social Security, Farm Household Allowance and Veteran payments.
There will be one payment per eligible recipient. If a person qualifies for the one off payment in multiple ways, they will only receive one payment.
Payments will be from 31 March 2020 on a progressive basis, with over 90 per cent of payments expected to be made by mid-April.