Recently, a news regarding the $700-$750 cost of living payment coming for Australians this week has started to circulate on different web portals and social media platforms. As per the latest news, these payments will be provided to the eligible citizens of the country on electricity bills in two instalments. Since the electricity prices are rising each year, it became a financial burden for the low-income or no income individuals and their families to manage their other household bills. Hence, the payment intends to compensate such crisis for the affected citizens. On continuing to this post, you will be able to get all the details regarding the cost of living payment whether it is coming or not. Read the full post, so that you cannot miss any updates.
What is $700-$750 Cost of Living Coming this week?
Earlier this year, it was reported that the Australian government had announced a financial assistance in order to balance the rising electricity prices in the country. The low-income or no income individuals and their families along with the small businesses who are suffering from a financial crisis due to high cost of living and inflation in the country will be benefitted by this $700-$750 cost of living payment this week. The payment is expected to be distributed in two instalments which is considered to be provided one in the coldest month and the other in the hottest month of the year. In addition to it, the cost of living payment intends to give a measure financial support to keep up with the high living expenses and the inflation which will play a key role in stimulating the country’s economy.
However, ever since the news of the $700-$740 electricity bills payment started to circulate on numerous web portals, several questions arising for the citizens whether this payment is coming or not. As of July 2024, neither the federal government of Australia nor the Services Australia department have made any confirmation regarding any such payments coming for the Australians any time soon. The department will make an official announcement whenever they decide to implement the cost of living payment of $700-$750. Till then, it is advised to all the citizens to stay updated with the latest news via Services Australia and do not fall for any unreliable source claiming for the $700-$750 cost of living payment coming this week. Apart from that, the department will issue the usual Centrelink payments to the eligible citizens on fortnightly basis.
$700-$750 Cost of Living Coming Overview
| Post title | $700-$750 Cost of Living Coming for Australians this Week |
| Country | Australia |
| Department | Services Australia |
| Category | Government aid |
| Applicable for | Low-income households |
| Payment amount | $700-$750 |
| Year | 2024 |
| Official website | servicesaustralia.gov.au |
What is the Cost of Living Payments for the Australians?
During the budget announcement of financial year 2022-2023, the Australian government had announced the cost of living payment for the eligible citizens of the country. The government invested around $1.5 billion for the welfare and betterment of approximately 6 million Australians who are suffering from high cost of living. Under this payment, the eligible citizens claimed one-off $250 payment at the end of April 2022. The payment was issued only for once to each member even if they were qualified in multiple ways. The benefit was not taxable and if a married couple was filing for it, only one member was provided with the one-off payment of $250. The payment was provided to the eligible recipients of:
- Age Pension
- Disability Support Pension
- Carer Payment
- Carer Allowance
- Jobseeker Payment
- Youth Allowance
- Parenting Payment
- Special Benefit
- Austudy
- ABSTUDY Living Allowance
- Commonwealth Seniors Health Card
- Double Orphan Pension, etc.
NOTE: According to the Services Australia, the cost of living payment has stopped from June 30, 2023 and there are no any other payments will be provided in the future unless the department intends to do so. As of now, only Jobseeker Payment is being provided if you are between 22 and age pension age.
Are You Eligible for the $700-$750 Cost of Living Payment?
Though, there is no confirmation regarding the $700-$750 payment as of now, yet you must be aware of the eligibility requirements in case the department decided to implement this initiative in the future. I have provided the eligibility criteria in the following points:
- The payment is expected to be provided to the eligible citizens who are living in Western Australia. Thus, you must be a citizen of Western Australia in order to claim the payment.
- This payment intends to support the low-income individuals and their families. Thus, you must not exceed the income limit if you wish to claim the benefit.
- You must be a recipient under one of the Centrelink financial support programs whether it is Age Pension, Disability Support Pension or any other pension.
How to Apply for the $700-$750 Cost of Living Payment for Australians?
Before applying for the $700-$750 cost of living payment for Australians, it is must for you to qualify the eligibility requirements. Only then, you will be able to claim the payment. You can check the claim procedure mentioned in the points listed below:
- First, you will be required to create the myGov account. If you do not have myGov account, you are allowed to create one.
- Now, visit the official website and log in by entering your accurate credentials.
- If your household or small business electricity bill is with Synergy or Horizon power, then your payment will be directly applied to your electricity bill.
Fact Checks $700-$750 Cost of Living Coming for Australians
It is further notified to the citizens that as of now, there is no confirmation of the $700-$750 cost of living payment and we do not support any news regarding such claims. The details provided in this post are mere estimations based on rumours and recent speculations. We advise you to visit the official website of the Services Australia for more information and do not rely on any of the false news claiming the payment to arrive this week.
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David has spent Several years reporting on the oil and gas industry, uncovering the latest trends and technological breakthroughs. His expertise in energy markets and passion for sustainable practices make his articles both insightful and forward-thinking. Davis’s in -depth analyses are a staple for professionals seeking to stay ahead in this dynamic field.