In a world where the cost of living seems to be perpetually on the rise, it's a breath of fresh air to hear that relief is on the way for many Australians feeling the pinch.

The government has announced a taxpayer-funded boost to rent assistance, set to benefit nearly one million renters across the nation.

This move is a significant step towards easing the financial burden for those who are struggling to keep up with the escalating costs of housing.

Prime Minister Anthony Albanese has confirmed that the maximum rate of rent assistance will see an unprecedented back-to-back increase, providing a modest yet meaningful $23 extra every fortnight.

This change is designed to support low-income families and individuals who are 'under the pump' due to the rising cost of living pressures.

The Australian government plans to increase the maximum rate of rent assistance for nearly one million renters by $23 per fortnight. Credit: Shutterstock

With this increase, eligible renters will see an additional $600 added to their yearly budget, which can make a real difference in making ends meet.

Rent assistance has risen by $65.40 for single-person households and up to $86.80 for households with children since the government took office.

For some families, this translates to a $2,000 increase in annual rent assistance since the 2022 election, with eligible families now receiving up to $5,000 a year to help cover rental costs.

Treasurer Jim Chalmers has expressed the government's recognition of the financial struggles many Australians are facing. 'We recognise that people are under the pump, and we’re doing something about it,' he stated.

The Treasurer also took a swipe at the previous administration, saying, 'The Liberals couldn’t care less about renters, pensioners or people on income support payments, but Labor does, and that’s why we’re providing more relief.'

‘We’re already rolling out tax cuts and energy rebates, and from today we’ll give people more help to pay the rent and deliver an increase to pensions and payments, including the age pension,’ he added.

Rent thresholds and the maximum amount of Rent Assistance are adjusted twice-yearly, in March and September, to reflect movements in the cost of living.

To qualify for rent assistance, individuals and families must meet certain criteria set by Services Australia, which includes being on an eligible social security payment and paying more than a minimum amount of rent for their principal home.

About 1.4 million Australians qualify for rent assistance, with around 900,000 eligible for the highest rate.


The latest changes mean that rent assistance will be increased by a further 10 per cent plus indexation, impacting nearly a million households around the country.

This is a significant uplift, with Treasurer Jim Chalmers highlighting that, when combined with indexation, maximum rates of Rent Assistance have surged by 45 per cent since the Albanese Government came to office.

The upcoming September indexation will also see adjustments to payments such as the Age Pension, Disability Support Pension, Jobseeker, Carer Payment, and Parenting Payment, set to benefit more than five million households.

Key Takeaways

• Nearly one million renters in Australia will receive a taxpayer-funded relief with a back-to-back increase in rent assistance.
• The increase provides an additional $23 per fortnight boost for those eligible, with a yearly benefit of up to $600 for low-income families.
• Treasurer Jim Chalmers emphasises the Labor government's commitment to supporting renters, pensioners, and those on income support, contrasting with the previous Liberal government.
• Rent assistance rate adjustments occur twice-yearly, in March and September, in alignment with cost of living changes, and are part of a broader package of financial support that includes tax cuts and energy rebates.

Have you or someone you know benefited from the government's rent assistance program? What impact has it had on your daily life? Share your stories and thoughts in the comments below!

 

[darylfoxcroft]

The rent assistance is barely noticed considering how much rents are increasing. Just another example of how out of touch politcians are.

 

[Dynamo]

NOT enough help for many renters.

 

[Brian5]

Every cent off rent assistance we get mission Australia take 100% plus 25 % off all other household income .

 

[KEVDVD]

Hi how can I apply

 

[Janmf]

What about us who are paying of a mortgage paying rates and everything else that goes with the privilege of owning your own home on a single old age pension, we never get any hel.

 

[Gsr]

Yep, energy assistance payments and tax cuts which everybody gets, even the mega wealthy who really don’t need them, but hey, look at us, we are giving the renters who meet our very strict criterias a lousy $23 a fortnight to help. Like that is going to fix the anguish for people living below the poverty line. But it’s all good, as long as we give our wealthy mates a chance to get richer while the poor get poorer. Seems to be the way of all governments, no matter who is in power.

 

[Luckyus]

Typical Labour Party mind set rob Peter to pay Paul?

 

[Chicky]

Hi how can I apply

My daughter took rent receipts to the local Centre Link office and they helped her from there. Good luck.

 

[StarTrekker]

Yep, energy assistance payments and tax cuts which everybody gets, even the mega wealthy who really don’t need them, but hey, look at us, we are giving the renters who meet our very strict criterias a lousy $23 a fortnight to help. Like that is going to fix the anguish for people living below the poverty line. But it’s all good, as long as we give our wealthy mates a chance to get richer while the poor get poorer. Seems to be the way of all governments, no matter who is in power.

my government rent is going up $50 a week.

 

[Cheezil]

"The Treasurer also took a swipe at the previous administration, saying, 'The Liberals couldn’t care less about renters, pensioners or people on income support payments, but Labor does, and that’s why we’re providing more relief.'

What a joke, both previous govts have created the housing issue wit their immigration policy, it hasn't just put a burden on housing but also on hospitals/medical system, schools, roads, infastructure etc according to a news report i read yesterday! Now there must be a looming federal election so they're going to play Mr Nice Guy, must think we're all stupid!

 

[novezar]

I know that it's the proverbial dog chasing its tail, but in some circumstances, the rates could well help out a few, just a tad or so. I know it will for my son in his situation with a certain type of disability & his rent.