The Australian Government has introduced the Household Assistance Package to help households meet the impact of the introduction of the carbon price.
The Household Assistance Package started in May 2012 with an initial payment to eligible customers. This has been followed by tax cuts and from March 2013, ongoing assistance will be added to regular entitlements.
The Household Assistance Package also includes extra support for people in low income households, as well as for Australians relying on essential medical equipment at home.
The Low Income Supplement is a $300 tax exempt payment to assist people in low income households.
Typically, these people do not receive sufficient assistance through tax reforms or other household assistance payments with everyday expenses, following the introduction of a carbon price.
A person may be eligible for the Low Income Supplement if they meet all of the following requirements:
* Their accepted adjusted taxable income for the assessment year is below:
- $30,000 for singles without a dependent child at the time of the claim;
- $45,000 for couples without a dependent child at the time of the claim;
- $60,000 for singles and couples with a dependent child at the time of the claim.
* They either were not required to pay tax or their assessed tax payable is less than $300.
For the purpose of the Low Income Supplement, assessments of tax and income requirements are made against the previous financial year to the one being claimed in. For claims submitted in the 2012/13 financial year, the assessment year is the 2011/12 financial year.
People do not need to be receiving Centrelink payments to be eligible for the Low Income Supplement. People can test their eligibility for the Low Income Supplement using the self-assessment tool at humanservices.gov.au/householdassistance.
Claims can be made online by visiting humanservices.gov.au/householdassistance and selecting the Online Services option.
For more information on all of the payments available under the Household Assistance Package, go to humanservices.gov.au/householdassistance or call 13 24 68.