$750 To Appear In Millions Of Aussie Bank Accounts From Tomorrow
Millions of Australians will see an additional $750 appear in their bank accounts from tomorrow as the government starts rolling out its coronavirus stimulus package which includes an Economic Support Payment.
The payment is part of the wider relief package designed to soften the economic blow of the Covid-19 crisis.
About 6.5 million Australians will receive the payment which will start arriving tomorrow and should land in the bank accounts of all eligible recipients by April 17.
The $750 is for Australians who are on a range of government benefits including the Age Pension, Disability Support Pension, Jobseeker Payment and Youth Allowance.
"This includes recipients on Newstart, the disability support pension, carers' allowance, youth allowance, veterans support payments, family tax benefits, the Commonwealth senior health card-holders and 2.4 million aged pensioners," Treasurer Josh Frydenberg said, when the stimulus was first announced earlier in the month.
The one-off, tax-free payment will cost Australia $4.8 billion.
In addition to the $750 stimulus payment, the government will provide a further $750 payment to social security and veteran income support recipients and eligible concession cardholders.
Treasurer Josh Frydenberg said roughly another 5.2 million Australians will now be eligible.
If you’re eligible and are living in Australia, you don't need to do a thing to claim the payment. It will be processed and sent to Australians' registered accounts.
It is understood millions of Australians will also receive a second Economic Support Payment of $750 which will arrive on July 13.
Australians who are eligible in July 10 for any payments or concession cards that were eligible for the first Economic Support Payment may get the second one.