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The second lot of $750 bonus stimulus package

Today is a happy day for many retirees, as the second payment of $750 bonus, which is a part of the Coronavirus stimulus package, will start to be paid to almost 5 million people.

Almost half of those receiving this bonus – 2.5 million – are pensioners.

Those receiving the bonus are recipients of various social security payments, veterans as well as other eligible concession cardholders such as:

  • Pensioner Concession Card
  • Commonwealth Seniors Card
  • DVA Gold Card

You will also receive this second bonus payment if you have your benefit provided to you from the Department of Veteran’s Affairs (DVA).

This bonus benefit will not be included as your income under the Centrelink Income Test and is tax exempt for all recipients.

This second payment will be done automatically into the eligible bank account from today 13 July 2020.

The first payment was originally paid at the end of March 2020 with many other benefits provided to the nation due to the CoronaVirus outbreak.

This is great news for all recipients and especially pensioners who are doing it tough these days, but it is also a great way to boost our economy to ensure it does not dive into recession.

If you are receiving this benefit – enjoy, but spend it wisely 😊

By: Katherine Isbrandt CFP®
Money Strategist & Retirement Planner
Principal of About Retirement

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