Another one-off cash payment confirmed for millions of Australians as living costs soar – here’s how to get yours
- Millions of Victorians will be eligible for one-off $250 cash handout from July 1
- The $250 Power Saving Bonus will be available through Energy Compare site
- Cash handout will only be available to some residents living in Victoria
Millions of Victorians will be eligible for a $250 handout to help with the rising cost of living.
The $250 Power Saving Bonus is available for Pensioner Concession Card and Health Care Card holders including Jobseeker, Youth Allowance, Austudy and Abstudy.
Department of Veterans Affairs Pensioner Concession recipients and Department of Veterans Affairs Gold Card holders are also eligible.
The scheme was initially rolled out to ease the financial burden of struggling families during Covid-19, but has since been extended.
Millions of Victorians will be eligible for a $250 handout to help with the rising cost of living
The $250 Power Saving Bonus is available for Pensioner Concession Card and Health Care Card holders including Jobseeker, Youth Allowance, Austudy and Abstudy
Premier Daniel Andrews heaped praise on the one-off payment saying it would go a long way to help families.
‘This is a great opportunity for Victorians to save money, ease the cost of living, and cut their energy bills,’ he said.
‘Big power companies rely on people not having the time, information or knowledge to save money.
‘But we know better deals are out there – and we’re helping Victorian families find them.’
Residents will need to head to Energy Compare and register their details through the website before they can receive the one-off payment.
The scheme will open on July 1 and run until June 30 2023.
The cash splash will cost the Victorian government $250million and will be included in the state budget on Tuesday.
The boost comes after the federal government handed out $250 cash boosts to struggling families on Wednesday.
Premier Daniel Andrews heaped praise on the one-off payment saying it would go a long way to help families
More than six million pensioners, carers, veterans, job seekers, eligible self-funded retirees and concession card holders received the payment.
The measure is one of the key components of Treasurer Josh Frydenberg’s fourth budget, which was delivered in March and included plans to help millions of vulnerable Australians struggling to keep up with soaring.
Another 10 million Australians will get up to $1,500 back in their next tax return under the government’s pre-election cash-splash Budget which also slashed petrol excise.
Australians earning less than $126,000 will from July 1 get an existing tax offset of up to $1,080 plus a bonus $420 to help manage the rising cost of living in a $4.1billion policy.
The government is spending $3 billion to slash fuel duty in half for six months – saving an average household $300 over six months and families with two cars $700.