$987.70 Payment + $28.30 Pension Supplement 2024: Know Dates & Eligibility Criteria

Australia’s Centrelink offers vital financial support to parents through the Parenting Payment program.

This benefit helps families manage the expenses associated with raising a child, covering costs like food, clothing, education, and other essential needs.

The Parenting Payment, which includes a base amount of $987.70 and a Pension Supplement of $28.30 for eligible recipients, is crucial for many Australian households.

Here’s everything you need to know about eligibility, how to apply, and the payment schedule.

Eligibility for the $987.70 Payment + $28.30 Pension Supplement

To qualify for the Parenting Payment, applicants must meet specific criteria set by Centrelink:

1. Primary Carer Requirement:
   • The applicant must be the main carer of a child.
   • For single parents, the child must be under 8 years old.
   • For partnered parents, the child must be under 6 years old.
2. Residency Status:
   • Applicants need to be Australian residents and must be physically present in Australia at the time of submitting their claim.
3. Income and Asset Tests:
   • These tests ensure that the payments are directed to families in need. For instance, single homeowners can have assets up to $314,000, while income thresholds vary based on family circumstances.
4. Other Payments:
   • Applicants must not be receiving conflicting payments like Newstart Allowance, Youth Allowance, or Austudy.
5. Ongoing Residency:
   • To continue receiving payments, applicants must remain residents of Australia.

How to Claim the Parenting Payment

Claiming the Parenting Payment, which includes the $987.70 base amount plus the $28.30 Pension Supplement, involves a straightforward online process:

1. Create a myGov Account:
   • Log in or create a myGov account if you don’t have one. Link your account to Centrelink.
2. Verify Your Identity:
   • Use documents like your passport or driver’s license to verify your identity within the myGov portal.
3. Submit Your Claim:
   • Log in to your Centrelink account via myGov and select “Make a claim or view claim status.” Then, choose “Apply for Parenting Payment.”
4. Provide Additional Documents:
   • Depending on your circumstances, you may need to submit extra documentation. Ensure all relevant paperwork is ready before submitting your application.
5. Application Review:
   • After submitting your claim, Centrelink will review it and notify you of the outcome or any further steps required.

Payment Amounts and Dates

The amount you receive under the Parenting Payment depends on whether you’re single or partnered:

• Single Parents: The maximum fortnightly payment is $987.70, which includes a $28.30 Pension Supplement.
• Partnered Parents: The maximum fortnightly payment is $698.30.

For cases where partners are separated due to illness or incarceration, the payment can increase to $816.90 per fortnight.

Payment Schedule

Parenting payments are typically disbursed every two weeks. Payments are adjusted twice a year, generally around 20 March and 20 September.

These adjustments account for changes in inflation and other economic factors.

Income and Asset Testing

Income and asset tests play a significant role in determining the exact amount a recipient can receive:

• Single Parents: They can earn up to a certain threshold before their payment is reduced. For every dollar earned above the threshold, the payment reduces by 40%.
• Partnered Parents: The income threshold varies based on combined earnings.

Additionally, assets like property (excluding the family home) can impact eligibility. For instance, single homeowners with assets exceeding $314,000 may see their payments reduced or disqualified.

The Parenting Payment, including the $987.70 base and $28.30 Pension Supplement, is a valuable resource for eligible Australian families.

By understanding the eligibility requirements, application process, and payment schedule, families can better manage their financial planning. To stay informed, regularly check the official Service Australia portal or consult with a financial expert for tailored advice.

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