“Older Australians will see more money in their pockets as a result of the Federal Government Budget handed down last week, as well as benefitting from measures to give them greater opportunity to stay at home and to participate in an increasingly digital world”, said locally based LNP Senator Paul Scarr.
The Government will provide two separate $250 economic support payments, in November 2020 and early 2021 to eligible recipients of the following payments and health care card holders:
- Age Pension
- Disability Support Pension
- Carer Payment
- Family Tax Benefit
- Carer Allowance (not in receipt of primary income support payment)
- Commonwealth Seniors Health Card holders
- Eligible Veterans’ Affairs payment recipients and concession card holders
The Medicare levy low-income thresholds have also been increased, meaning more cash in the hands of every day Australians. For single seniors and pensioners, the threshold has increased from $35,418 to $36,056 and the family threshold for seniors and pensioners has increased from $49,304 to $50,191.
“Another way the Government is supporting older Australians is through the capital gains tax exemption for granny flat arrangements where there is a formal written agreement.”
Senator Scarr said that when faced with a potentially significant CGT liability, families often opt for informal arrangements, which can lead to financial abuse and exploitation in the event that the family relationship breaks down.
“This new measure will therefore have the added benefit of reducing the risk of abuse to vulnerable Australians”.
“The Federal Government understands that many senior Australians have a clear preference to stay in their own home and to enable them to do this we have announced $1.6 billion to provide an additional 23,000 home care packages”.
“The Federal Government budget will also provide $28.3 million over four years from 2020-21 to extend the Be Connected Program which supports Australians aged over 50 to gain the skills they need to participate in the digital economy”.
“Older Australians are at risk of becoming marginalised because of the enormous shift towards electronic commerce and communication. The Morrison Government is committed to ensuring that they are not left behind” said Senator Scarr.
Media contact:
Office of Senator Scarr – Kit Philp – 0410 411 981
