Increase support for people receiving working age payments including the JobSeeker Payment.
The Government will provide $4.9 billion over 5 years from 2022-23 (with $1.3 billion per year ongoing) to increase support for people receiving working age payments including the JobSeeker Payment. This measure will:
* increase the base rate of working age and student payments by $40 per fortnight. This increase applies to the JobSeeker Payment, Youth Allowance, Parenting Payment (Partnered), Austudy, ABSTUDY, Disability Support Pension (Youth), and Special Benefit. It will commence on 20 September 2023
* extend eligibility for the existing higher single JobSeeker Payment rate for recipients aged 60 years and over to recipients aged 55 years and over who are on the payment for 9 or more continuous months. The increased support for recipients aged 55 years and over, the majority of whom are women, acknowledges the additional challenges older Australians face in re-entering the workforce, such as age discrimination or poor health. The measure is expected to increase personal income tax receipts by $220.0 million over 3 years from 2024-25 (with $80.0 million per year ongoing).