Here’s how you might be affected
Centrelink are making changes to some of the payments your family might receive. Here’s a wrap up of how your payments might change.
Family Tax Benefit changes
- If you receive Family Tax Benefit Part A, this supplement payment will now only be offered if your family income is below $80,000.
- If your combined family income is more than $80,000, you’ll no longer receive Part A.
- If you receive FTB and are eligible for Part A, Centrelink will automatically pay it to you.
Single Income Family Supplement changes
- If you are a single income family, you might be receiving the Single Income Family Supplement.
- This is a payment of up to $300 a year. If you currently receive it, you’ll keep getting it for as long as you stay eligible.
- But this payment won’t be made to new customers after 30 June 2017.
- Many families receive the Energy Supplement payment as part of your regular Family Tax Benefit payments from Centrelink.
- You’ll keep getting the Energy Supplement if you’re currently receiving or are eligible for Family Tax Benefit, or hold a Commonwealth Seniors Health Card. So will anyone who claims it between now and 19 March 2017.
- But from 20 March 2017, anyone who claims Family Tax Benefit or a Commonwealth Seniors Health Card will no longer get the Energy Supplement.
- Do you earn a wage and also receive any reportable fringe benefits from your employer – extra payments they make for you, like for your phone, car, rent or health insurance costs?
- If you do, the way Centrelink counts these is changing.
- This could affect whether you receive payments like Family Tax Benefit and Child Care Benefit, or how much you receive.
- If you are affected, Centrelink will contact you to let you know what you need to do.
And as always, City Finance are happy to assist customers receiving Centrelink payments.
- Cash Converters and other lenders have announced they will stop lending to people who are on low incomes and receive Centrelink payments, and only offer higher loan amounts to employed people on higher incomes.
- But at City Finance, we support customers receiving Centrelink payments and low income earners.
- Contact us or pop into your local branch today for more information on how we can tailor a fast flexible personal loan to your needs.
Plus read our update on the Drastic Changes to Centrelink Payments and How it May Affect You.