The Cost of Living Concession will begin rolling out in the middle of August 2024. The individuals, who have already received the concessions, will now be able to get $243.90 Cost of Living Concession Coming for Australia. Nearly 200,000 residents of the country will have access to the concession payments in the middle of August 2024. The $243.90 COLC will be applicable for the financial year 2024-25. The upcoming payment is distributed so that individual families can deal with the extremely financial circumstances. If you want to know more about the upcoming $243.90 Cost of Living Concession, then check out the post as it has the eligibility criteria, payment dates and how to apply for the cost of living payments.
What is $243.90 Cost of Living Concession?
The upcoming COLC payment is coming for those who are on low and fixed income, renters, and families with ongoing school children. The families who are still unable to buy their first home and trying to buy their first home are going to have access to the cost of living concessions. When the inflation goes out of control and it throws the low and middle income families in the corner, then it becomes quite impossible for the individual residents to afford the basic needs of their life.
Australia Energy Relief Grant 2024
They find it difficult to even support of the education of their under age children. In order to avoid such pathetic conditions of the prospective families, the government decides to pay cost of living concessions so that all the basic needs of the individual families could be met with ease. In the month of June 2024, the residents directly received the one-off $243.90 Cost of Living Concession in to their accounts. The next payment for the residents which will be effective for financial year 2024-25 will be coming in August 2024. The upcoming benefit is $255.60 Cost of Living Concession for the eligible residents.
$243.90 Cost of Living Concession Highlights
| Title | $243.90 Cost of Living Concession for Australia |
| Country origin | Australia |
| Category | Additional Financial Aid |
| Applicable to | Low and Middle Income Families |
| Frequency | Once in a year |
| Expected Payment Dates | August 2024 |
| Official Website | www.sa.gov.au |
Who is Eligible for $243.90 Cost of Living Concession?
The eligible individuals from the South Australian regions can have access to the payment. Refer the following to know the full list of criteria
- All the list of eligibility criteria must be true in context of financial year 2024
- The cost of living concession will be given to only one person per household
- You are currently living at the property you are claiming
- Meet other low income provisions in 2024 and your annual income limits are moderate
- You also have eligible concession card
- Already receive any type of Centrelink Payment
- An Australian resident having supporting documents
- You are not staying with the tenants if you earn more than the low income provisions
- You can live with tenants and have more income than low income provisions if you
- Get an allowance from Centrelink or DVA
- Are a spouse, dependent or domestic partner
All of the above mentioned criteria must be true on the 1st of July 2024 so that you can have the upcoming $243.90 Cost of Living Concession Coming for Australia in August 2024.
$243.90 Cost of Living Concession for Australia in 2024-25
The projected cost of living payment worth $243.90 was distributed for the financial year 2023-24. The COLC was last disbursed in June 2024. Now the $243.90 will be not coming again for the residents. But one similar payment for the financial year 2024-25, will be coming in August 2024.
The $255.60 Cost of Living Concession will be coming in 2024. And it will be applicable for till June 2025.
Again on the 1st of July, the official department will announce the new payment amount and dates as well because the concession is about to be indexed in each financial year. Till then you have the $255.60 as COLC.
$243.90 Cost of Living Concession Payment Dates
- $243.90 Cost of Living Concession has already announced in June 2024. The New payment $255.60 Cost of Living Concession will be coming by the end of August 2024.
- You do not need to do anything to start your payments as the administration will automatically send you the relevant amount as it is made through Electronic Funds Transfer.
- In case you have received $243.90 Cost of Living Concession, you will directly be getting $255.60 Cost of Living Concession. You just have to keep updating your banking details for the acquisition of payments.
- And then keep checking out your linked bank account whether it is credited with $255.60 Cost of Living Concession or not.
- If you are new claimant and making the claims for the existing payment for the very first time, you need to get yourself enrolled. For the registration, you can call the SA.GOV on its hotline 1800-307-758 services available from 9.00 am to 5.00 pm.
- For further details regarding the $243.90 Cost of Living Concession coming for the Australians, you can visit the nearby store or you can browse the official website of the administrator.
| Home Page | Click Here |
Christi has a unique blend of financial sense and industry knowledge. With a background in international finance and years of experience in delivering economic News around the Globe. Her clear and engaging writing style makes complex financial concepts accessible and informative for our readers.