Work Bonus- Federal Government incentives for older people
The Work Bonus provides an incentive for pensioners over Age Pension age to work by allowing them to keep more of their pension when they have income from work.
Summary:
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The Work Bonus increases the amount an eligible pensioner can earn from work before it affects their pension rate.
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This means a single pensioner over Age Pension age with no other private income could earn up to $504 a fortnight from work and still receive the maximum rate of pension.
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Pensioners over Age Pension age accrue any unused part of the $300 fortnightly Work Bonus concession amount in a Work Bonus income bank.
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Pensioners do not need to apply for the Work Bonus. If you are a pensioner with income from work, you must keep Services Australia (Centrelink) informed of your income. Pensioners can report income from work by contacting Services Australia.
For more information: Department of Social Services
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