Around 5.1 million Australians to receive $500 COVID payment

Around 5.1 million Aussies are locked in to receive two $250 payments under a bill passed through parliament on Wednesday.

Originally unveiled as part of the 2020-21 budget, the Economic Support Payments are expected to be paid gradually from 30 November 2020 and the second from 1 March 2021.

Many eligible for the handout include pensioners, veterans, persons on job compensation and beneficiaries of family tax benefits, as well as Commonwealth Seniors Health Card (CSHC) and retirement 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.

“We are standing side by side with Australians who have been hardest hit by the economic impact of the pandemic as we fight the virus and reopen our economy.”

More than 2.5 million Age Pensioners, nearly 400,000 self-funded retirees with a Commonwealth Seniors Health card, more
than 1 million people with disabilities and caregivers, and 760,000 low-income families are covered by the payments.

To meet the income test, singles or couples must earn below the following thresholds:

  • $55,808 for singles
  • $89,290 for couples
  • $111,616 for couples who are separated by illness, respite care or prison.

Australians have until November 27 to be eligible and receive the first $250 payment.

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