The $256 Cost Of Living Cash Boost 2024 is a one-time financial relief measure introduced by the Australian government to assist eligible citizens, particularly in South Australia, in managing the rising costs of living.
This initiative is part of a broader effort to provide economic support to vulnerable populations, including pensioners, low-income households, and individuals on specific welfare payments.
Overview of the $256 Cost Of Living Cash Boost 2024
- Title: $256 Cost Of Living Cash Boost 2024
- Organized by: Australian Government
- Year: 2024-25
- Country: Australia
- Start Month: August 2024
- Eligibility: South Australians
- Category: Finance
- Website: Services Australia
What is the Cost Of Living Cash Boost 2024?
The $256 Cost Of Living Cash Boost is a one-time financial assistance payment designed to help Australians cope with the increasing cost of living.
The payment is targeted at low-income households, senior citizens, and individuals receiving specific Centrelink payments.
This boost is intended to help cover essential expenses such as utilities, groceries, and other daily costs, providing immediate relief to those most affected by inflation and rising living costs.
Cost Of Living Cash Boost Eligibility 2024
To qualify for the $256 Cost Of Living Cash Boost 2024, applicants must meet the following criteria:
- Residency: Must be a resident of South Australia.
- Household Limit: Only one payment is provided per household.
- Residence Requirement: Must reside at the property as of July 1, 2024.
- Card Holders: Must hold an acceptable concession card, such as:
- Pensioner Concession Card
- Commonwealth Seniors Health Card
- Income Thresholds:
- Single: Fortnightly earnings below $912.70, yearly earnings below $23,730.20.
- Single with Children: Fortnightly earnings below $966.90, yearly earnings below $25,139.40.
- Couple: Fortnightly earnings below $1696.60, yearly earnings below $44,111.60.
Payment Amount and Process
- Amount: The Cost Of Living Cash Boost provides a one-time payment of approximately $256 to eligible recipients. This amount is intended to help cover essential living expenses and alleviate financial pressure amid rising costs.
- Frequency: One-time payment.
- Mode of Transfer: The payment will be transferred directly to the recipient’s bank account via Electronic Fund Transfer (EFT).
- Identification: The payment will be identified in bank statements with the description “Concessions COLC.”
Application Procedure
- Automatic Eligibility:
- Recipients who have received this payment in previous years will automatically receive the boost without needing to reapply.
- New Applicants:
- Those who have not received this payment before must apply online or by contacting ConcessionsSA by December 31, 2024.
- Required Documents:
- Centrelink Reference Number (CRN)
- DVA File Number
- Recent utility bills
- Ownership number from Emergency Services Levy Assessment
Payment Dates
- Distribution Period: The $256 Cost of Living Cash Boost will be distributed starting from late August 2024 and continue through to December 2024. Payments will be made directly to the recipient’s bank account, ensuring a convenient and efficient process.
Impact of the Cost Of Living Cash Boost 2024
The $256 Cost Of Living Cash Boost is intended to provide timely financial support to help eligible residents manage essential living expenses.
This one-time payment is particularly aimed at supporting those who are struggling with increased living costs due to inflation and other economic pressures.
By providing this boost, the government seeks to ensure that the most vulnerable members of society can meet their basic needs and maintain financial stability during challenging times.
The $256 Cost Of Living Cash Boost 2024 is a significant initiative by the Australian government to help alleviate the financial burdens faced by many Australians, particularly in South Australia.
By offering this one-time payment, the government aims to provide immediate relief to those most in need. Eligible recipients are encouraged to ensure their details are up-to-date and to apply promptly if they have not received this payment before.
FAQs
Who is eligible for the $256 Cost Of Living Cash Boost 2024?
Eligible residents must be South Australian residents, hold an acceptable concession card, and meet specific income thresholds.
How much is the Cost Of Living Cash Boost payment?
The one-time payment amount is approximately $256.
When will the payment be made?
Payments will be distributed starting from late August 2024 through to December 2024.
Do I need to apply for the Cost Of Living Cash Boost?
If you have received this payment in previous years, you will automatically receive the boost. New applicants must apply by December 31, 2024.
How will I receive the payment?
The payment will be transferred directly to your bank account via Electronic Fund Transfer (EFT).
