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Govt stimulus package changes help older Australians

Older Australians have welcomed the improvements to the stimulus package negotiated by the Greens and agreed to by the Government.

National Seniors chief executive, Michael O’Neill, said some of these commitments were squarely aimed at assisting the mature aged unemployed and genuine low income earners, such as some self-funded retirees.

“The $900 bonus payment will now be paid to some self-funded retirees who didn’t pay tax. Specific details of eligibility for this aren’t yet finalised, but National Seniors will be seeking to ensure that low income self-funded retirees won’t miss out.”

The relaxation of the liquid assets test for unemployment support is also welcome. It will allow the unemployed to keep liquid assets of $5,000, rather than the current $2,500.

“It’s common sense that people who lose their job shouldn’t be down to the very last of their savings before they can get government assistance.”

Mr O’Neill said this would potentially help older job seekers the most, especially in the current economic climate where retrenchment was a serious issue.

The Greens’ negotiation also included a further commitment by the Government to increase the age pension in the May Budget.

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