$497 Cost of Living Boost Hits Aussie Bank Accounts: If you’re receiving Centrelink payments, there’s some welcome financial news headed your way. The Australian Government has officially announced that a $497 cost of living relief payment will be deposited into eligible recipients’ bank accounts in April 2025. This initiative is part of the government’s broader response to support Australians managing the sharp rise in living expenses, including rent, groceries, energy bills, healthcare, and transport.
The cost-of-living pressures have been building over the past few years, with inflation, interest rates, and global supply chain challenges affecting households across Australia. This one-off payment is designed to ease the financial burden on low- to middle-income earners who rely on welfare support, pensions, and government allowances.
If you’re currently receiving payments like the Age Pension, JobSeeker, Youth Allowance, or Parenting Payment, this article will help you understand your eligibility, how the payment works, key dates, and what you need to do to ensure you get paid on time.
$497 Cost of Living Boost Hits Aussie Bank Accounts
| Category | Details |
|---|---|
| Payment Amount | $497 one-off, tax-free |
| Eligibility Date | Must be receiving an eligible Centrelink or Veterans payment as of March 31, 2025 |
| Payment Window | Between April 15 and April 30, 2025 |
| Who Qualifies | Age Pensioners, DSP recipients, Carers, JobSeeker, Youth Allowance, Veterans, Austudy, and more |
| Application Required | No – payment is automatic for eligible individuals |
| Payment Method | Direct deposit to your Centrelink-linked bank account |
| Official Website | https://www.servicesaustralia.gov.au |
The $497 Cost of Living Boost in April 2025 is a timely and meaningful financial lifeline for millions of Australians navigating economic uncertainty. It’s tax-free, no-strings-attached, and requires no paperwork. But you must ensure your Centrelink-linked account is accurate and active.
With inflation and living costs showing no sign of immediate decline, this payment can help households bridge the gap and stay afloat. Take a moment to verify your details now—because this is one government payment you don’t want to miss.
Why Is There a $497 Cost of Living Payment in April 2025?
Rising living costs are taking a serious toll on many Australians, especially those who rely on fixed incomes or Centrelink benefits. Over the past year, household budgets have been stretched thin by increasing costs of rent, energy, food, and basic services. According to the Australian Bureau of Statistics (ABS), the national Consumer Price Index (CPI) rose by 5.2% year-on-year in the first quarter of 2025, driven primarily by surges in utility bills and food prices.
To respond to these financial pressures, the Federal Government announced the $497 Cost of Living Boost. This payment aims to offer immediate relief to those most vulnerable, helping them cover essential bills and reduce financial stress during a difficult economic period.
This relief payment follows a series of similar supports introduced during the COVID-19 pandemic and post-inflation recovery, such as the Energy Supplement and COVID Economic Support Payments.
Who Is Eligible for the $497 Cost-of-Living Payment?
The payment is targeted at individuals receiving key welfare benefits as of March 31, 2025. If you’re receiving one or more of the following payments, you’re likely to be eligible:
Qualifying Payments
- Age Pension
- Disability Support Pension (DSP)
- Carer Payment
- Carer Allowance (if not receiving a primary income support payment)
- JobSeeker Payment
- Youth Allowance (students and job seekers)
- Parenting Payment (Partnered and Single)
- Austudy or ABSTUDY Living Allowance
- Special Benefit
- Veterans’ Affairs income support payments
- Pensioner Concession Card holders
Note: If you only receive the Family Tax Benefit (FTB) and no other listed payment, you are currently not eligible for the $497 payment.
Residency Requirements
To receive the payment, you must:
- Reside in Australia on March 31, 2025
- Have updated your personal and banking details in your myGov and Centrelink profiles
When Will the Payment Arrive in Your Bank Account?
You do not need to apply for the $497 payment—it will be automatically paid into your bank account between April 15 and April 30, 2025. It will be included alongside your regular Centrelink payment (i.e. your Age Pension or JobSeeker allowance).
Delivery Method
- Direct Deposit only – No paper cheques or manual transfers
- Funds will be paid to the bank account registered with Centrelink
If you’ve recently changed your bank account, make sure your new account is listed in myGov before March 31.
$497 Cost of Living Boost Hits Aussie Bank Accounts Make Sure You Get Paid
While no application is needed, you must ensure your details are up to date to avoid missing out.
Here’s What to Do:
- Log into myGov and check that Centrelink is linked to your account.
- Go to your Centrelink profile and confirm:
- Your bank account number is active and correct
- Your address and email are up to date
- Check the Services Australia inbox for any alerts or updates
- If you haven’t received your payment by May 1, 2025, contact Services Australia for assistance
What Should You Use the $497 Payment For?
There are no spending rules attached to the $497. It’s yours to use in a way that best helps your situation. Some common and smart uses include:
- Paying an overdue electricity or gas bill
- Catching up on rent or mortgage repayments
- Stocking up on essential groceries or household goods
- Covering transport costs (such as car repairs or public transit)
- Visiting a GP or filling a prescription you’ve been putting off
Consider using the money to pay off high-interest debt or build an emergency fund.
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What Other Cost of Living Support Is Available in 2025?
The $497 payment is part of a broader package designed to relieve financial stress. Here are some additional benefits and programs currently active in 2025:
1. Increased Commonwealth Rent Assistance
Eligible tenants are receiving higher rent assistance to help meet rising housing costs.
2. Energy Bill Rebates
Both federal and state governments are offering energy rebates for low-income households. These rebates are typically credited directly to utility accounts.
3. Education Support Bonuses
Families receiving Parenting Payment or Youth Allowance with school-aged children may qualify for back-to-school bonuses, helping with uniforms, books, and digital devices.
4. Income-Free Threshold Adjustments
More flexibility for Centrelink recipients who take on part-time or casual work—you can now earn more before your payment is reduced.
5. Healthcare Support
Eligible Australians continue to receive bulk-billing incentives and subsidies for medications under the Pharmaceutical Benefits Scheme (PBS).
Explore all available programs via the Services Australia Payment Finder
FAQs On $497 Cost of Living Boost Hits Aussie Bank Accounts
Q1: Do I need to apply for the payment?
A: No. It is an automatic one-off payment if you’re eligible as of March 31, 2025.
Q2: Is it taxable income?
A: No. The $497 is tax-exempt and won’t affect your taxable income or Centrelink payment rates.
Q3: What if I receive multiple eligible payments?
A: You’ll still receive just one $497 payment, even if you receive multiple eligible benefits.
Q4: Can I use the money however I like?
A: Yes. There are no restrictions on how the payment must be spent.
Q5: What if I miss the payment?
A: If you’re eligible but haven’t received it by May 1, 2025, call Services Australia on 132 300.
