Government

SA households to receive additional $243.90 payment this week in cost of living boost

The aim is to provide immediate financial support to South Australians on low or fixed incomes, particularly as the winter season begins and households face escalating energy expenses.

The State Government has commenced the distribution of the additional Cost of Living Concession payment of $243.90 to over 210,000 South Australian households this week. This payment forms part of a broader $51.5 million initiative funded through the 2024-25 State Budget. The aim is to provide immediate financial support to South Australians on low or fixed incomes, particularly as the winter season begins and households face escalating energy expenses.

This one-time payment will be automatically transferred to the bank accounts of eligible households by electronic funds transfer (EFT) under the description ‘Concessions COLC’. Individuals who have had changes in their bank details over the past year are urged to update their information via the online household concessions form or by contacting the Concessions Hotline.

In addition to the $51.5 million allocation for this payment, the government has announced a $266.2 million cost of living relief package in the State Budget. This includes a provision of $36.6 million spread over four years, specifically aimed at permanently doubling the Cost of Living Concession for tenants and Commonwealth Seniors Health Card holders beginning the 2024-25 fiscal year. Consequently, from July 2024, all eligible recipients will receive a standard concession amount of $255.60 from August.

Premier Peter Malinauskas says “We announced the State Budget a little over a week ago and already we are seeing this additional Cost of Living Concession payment of $243.90 hitting the bank accounts of more than 210,000 South Australian households. This is relief targeted to those South Australians who need it most, at a time when they need it most. Importantly, we are providing significant additional ongoing support for those recipients who are renters and Commonwealth Seniors Health Card holders. From July, they will receive double what they previously received.”

Miranda Starke, Chief Executive, Council on the Ageing SA says “We welcome the additional Cost-of-Living Concession payment and we were glad to hear that renters and Commonwealth Senior Health Card holders will have their concession amount doubled to match that of homeowners. COTA SA were pleased to be a part of the State Government’s concession review and to bring the voices of older South Australians to the table.
 
“More older people than ever before are retiring with a mortgage, and a growing number are renting. They are having to make hard decisions about whether they heat or cool their home, put food on their table or fuel in their car.
 
“This relief measure is particularly important for the growing population of older renters, who are amongst the most financially disadvantaged, as they juggle the increasing cost of living, often on low and fixed incomes.”

Further details on eligibility and applications for concessions can be found on the state government’s website. Those in need of assistance or more information are encouraged to make use of the dedicated resources and contacts provided by the government.

For more information and eligibility, go to: www.sa.gov.au/concessions

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