More than 2 million Australians will get a boost to their government payments, as Monday marks the beginning of a new financial year. Families and pensioners are set to be the beneficiaries of the boost, which is due to routine indexation. About 1.3 million people on family payments — including the Family Tax Benefit, Newborn Supplement and Multiple Birth Allowance — will see increases in their payments.
The government is committed to helping Australians through the stresses of inflation and cost of living pressures, Minister for Social Services Amanda Rishworth said “Indexation delivers timely boosts to people receiving family payments and pensions,” Rishworth said. “These increases will provide a direct boost to fortnightly payments for families.” Family boost For families receiving Family Tax Benefit Part A, the maximum rate of payment for children under 13 years old will increase by $8.
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