Last week, the Australian government announced a $17.6 billion coronavirus stimulus package that was designed to soften the blow of a recession that is likely headed our way.
It is believed that over 6.5 million Australians who currently receive benefits will get their hands on the $750 cash handout, and the good news is that they will not have to wait very long to receive it.
These one-off payments will be paid out from March 3, and according to Government Services Minister Stuart Robert, those who are eligible will not have to do anything to claim it.
“I want to remind everyone who may be eligible for the one-off payment and have existing bank account details with Services Australia that they do not have to do anything – Services Australia will process the payment after 31 March,” he confirmed.
Estimates predict that a total of 3.6 million pensioners will receive the payment, as well as 1.1 million on Youth Allowance and Newstart and 1.5 million other Australians including veterans and those on payments such as the Farm Household Allowance and Family Tax Benefit.