Understanding the Cost of Living Concession: Essential Support for Low-Income Households
The Cost of Living Concession (COLC) is a vital financial assistance program designed to help individuals and families with low or fixed incomes manage their everyday expenses, such as council rates, energy bills, and medical costs. Introduced to replace the council rate concession, the COLC provides targeted relief to those most in need, ensuring access to essential resources without undue financial stress.
Here’s everything you need to know about eligibility, application processes, and payment timelines for the COLC.
Table of Contents
Who Can Apply for the COLC?
The concession is available to one eligible person per household, based on their circumstances as of 1 July of the relevant financial year. To qualify, applicants must:
- Residency: Live at the property for which they’re claiming the concession.
- Eligibility Criteria:
- Hold an eligible concession card.
- Receive an approved Centrelink payment.
- Meet specific low-income provisions.
- Tenancy Requirements:
- Tenants must not reside with individuals earning above the low-income threshold unless they are dependents, a spouse/domestic partner, or also receiving a Centrelink or Department of Veterans’ Affairs (DVA) allowance.
Eligible Cards and Payments
Concession Cards:
- Pensioner Concession Card
- Veteran Gold Card (e.g., TPI, EDA, War Widow)
- Low Income Health Care Card
- Commonwealth Seniors Health Card
Centrelink Payments:
- JobSeeker Payment
- Youth Allowance
- Parenting Payment
- Special Benefit
- ABSTUDY and Austudy
- Farm Household Allowance (FHA)
- Community Development Program (CDP)
- War Widow Pension (UK or New Zealand legislation)
Income Thresholds for Low-Income Provisions
To meet low-income eligibility for the 2024-25 financial year, your income must not exceed:
| Status | Fortnightly Income | Annual Income |
|---|---|---|
| Single | $912.70 | $23,730.20 |
| Single with Children | $966.90 | $25,139.40 |
| Partnered | $1,696.60 | $44,111.60 |
How to Apply or Update Your Details
Application Deadline
Apply by 31 December to receive the COLC for that financial year.
Application Methods:
- Online Form: Use the digital form to apply for household concessions or update details (e.g., address, bank account, or energy account).
- Required Documents:
- Centrelink Customer Reference Number (CRN) or DVA file number.
- Recent tax assessment (if you don’t have a CRN).
- Details from your latest electricity, water, and emergency services levy assessments (for homeowners).
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COLC Payments: Amount and Schedule
For the 2024-25 financial year, eligible households will receive $255.60, regardless of whether they own or rent their home. Commonwealth Seniors Health Card holders now receive the same amount as homeowners.
Payment Timelines:
- For Previous Recipients: Payments are issued between August and December 2024. Check your bank account for a deposit labeled Concessions COLC.
- For New Applicants: Applications processed within two weeks of approval.
- Final Deadline: Apply by 31 December 2024 to qualify.
What Happens After You Apply?
- If your application is approved, you’ll receive your payment via electronic funds transfer (EFT).
- Ensure your banking details are updated to avoid delays. Use the online form or contact the ConcessionsSA Hotline to make updates.
Why the COLC Matters
The COLC provides crucial support to Australians struggling with the rising cost of living. By easing financial burdens associated with essential services, this program ensures that more households can maintain a decent quality of life.
For detailed information or assistance, visit the official ConcessionsSA website or contact their hotline. Don’t miss out on this opportunity to secure support for your household expenses.
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