Australian Government Cash Bonus: Attention, please. Australian pensioners will secure a one-off cash bonus of $250 as part of the plan of the government to ease the cost of living pressures. The $250 payment will also be provided to low-earning families that rely on income support, though parents on family payments will not get the cash boost. Several media reports understand the payment has been set at a modest 4250 to make sure it does not put additional pressure on inflation. The payment is officially set to be declared by Scott Morrison on budget fay which has been set for Tuesday, 29th of March 2022. Follow More Update On GetIndiaNews.com
Australian Government Cash Bonus
Later Wednesday, Mr. Morrison indicated that he was leaning towards one-off payments rather than any permanent reforms. He stated that “We stated we would be targeted in the supports that we provided, that they would have a begin date and they had a stop date, that there had been a pathway in and there had been a pathway out.
“We must be targeted in the things that we do, so we do not add to those inflationary pressures.” Mr. Morrison is under pressure in order to reduce the fuel tax of 44.2c-a-litre but has refused to disclose if he will do this. He has also kept quiet on whether he will extend the Low and Middle-Income Tax Offset (LMITO), an end-of-financial-year rebate of up to $1,080 for those earning under around $126,000.
The offset was due to an end when stage 2 tax cuts came into play but Mr Morrison kept it in place for an extra 2 years as a form of Coronavirus inspiration. In the budget due on Tuesday, 29th of March, the government is expected to offer “temporary and targeted support” for middle and lower-income earners struggling with price rises but the actual nature of this is not clear.
Mr Morrison is expected to call an election for mid-May briefly after the budget. Welfare recipients can expect some relief on Sunday, 20th March 2022 when the jobseeker rate, age pension, disability support pension, and carer payments are all ready to rise by up to $20 per fortnight. But Labor leader Anthony Albanese stated the increase is too light to offset price hikes for essentials such as petrol and food.
He stated “At the moment, families are under huge pressure. Everything is going up.”