With the cost of living increasing, having a little extra cash in your pocket can help out in these trying times. But for pensioners, the issue is usually how to get that extra income without affecting their Age Pension payments.

Fear not, however, because with the implementation of the government's Work Bonus program, extra money can be yours to earn—and now's the perfect time to take advantage of it!

But what is the Work Bonus program?

The Work Bonus increases the amount an eligible pensioner can earn from work before it affects their pension rate. The first $300 in their fortnightly income will not be counted under the pension income test.

The Work Bonus program enables pensioners to earn $300 more without affecting their pension. Credit: MultifacetedGirl/Shutterstock

This is on top of their regular pension income threshold—$204 for singles and $360 for couples.

Better yet, any unused income you have acquired from work over the two weeks is converted into an income bank that accumulates unused work bonuses to offset future income. This is great news for those who still have seasonal or irregular work.

That's not all. Last year saw the temporary credit increase the amount you can have in your income bank, changing your maximum balance of $7,800 to $11,800.

That means if you have never used the Work Bonus before, then there's still $11,800 available to you in your income bank until December 31st. Come January 1st, this will reset back to the standard limit of $7,800.

So with eight fortnights until the credit expires, single pensioners can potentially earn up to $1,979 a fortnight while also receiving $1,064 (or $1097 from September 20th) a fortnight in age pension payments, for a total of more than $24,500 for the remainder of the year.

Let's take a closer look at how it works:

The Work Bonus is available to all pensioners over the Age Pension age—that's 67 and above.

To be eligible, you must receive income from employment like salary, bonuses and commissions. For self-employed individuals, as long as the income is derived from work involving physical exertion—like plumbing or farming, they would be eligible.

It cannot be used for income derived from managing investments, investment properties, or domestic or gardening tasks in your home.

Take a look at this example. Sally is a single-age pensioner who has $52,000 in investments as well as $20,000 in personal assets. She has never used the Work Bonus before, yet she is thinking about taking a part-time job over the holidays to make a little extra money.

Sally's investments are deemed to earn $5 a fortnight, which counts towards the $204 income threshold. Taking advantage of her Work Bonus allowance and $300 concessional amount, Sally is able to earn $1,775 a fortnight from work.

This allows her to earn $1,780 a fortnight up until the end of the year while still receiving her pension.

Here's another example: Mike and Mary have $408,000 in investments and $20,000 in personal assets, and between them, they have $11,800 in their Work Bonus income bank.

Mike has been offered a part-time job as a handyman earning $800 a fortnight, while Mary has been offered a job in her local cafe earning $600 a fortnight.

Mike and Mary's investments are deemed to earn $276 a fortnight, and as we mentioned already, this counts towards the $360 income threshold that the couple must meet.

With their Work Bonus allowance, Mike and Mary's work income is completely offset, meaning Mike can earn up to $975 a fortnight while Mary can earn up to $1,175 a fortnight and still receive their full combined age pension of $1604 (or $1653 from September 20th).

Plus, they also have $84 a fortnight left of their income threshold to use if needed.

​

By the end of the year, Mike and Mary will have earned $30,608 in addition to their Age Pension payments amounting to $13,175—a total of more than $44,500 for the year!

To learn more about the Work Bonus program, you can visit the Department of Social Services website here. The application process for this program is also available on the website.

You may also visit a Centrelink office in person or call Services Australia at 13 2300.

Key Takeaways

• The Work Bonus enables pensioners to earn $300 a fortnight from work without affecting their pension payments on top of the pension income threshold. It also includes an income bank accumulating unused work bonuses to offset future income.
  
• A temporary Work Bonus credit increase, expiring on December 31, allows pensioners to have up to $11,800 in their income bank. From January 1, it resets to the usual limit of $7,800.
  
• The Work Bonus is available to all pensioners over the pension age of 67. Eligible income
  includes salary, bonuses, and commissions but does not extend to income from managing investments, investment properties, or domestic tasks in one's home.
  
• Given examples show that pensioners could earn significant extra income without affecting their pension payments. Single pensioners could possibly earn $1,780, while couples could earn $13,175.
  

Whether it’s to put a bit more merriment in your Christmas, for travel, or to put away in the bank, the Work Bonus program has its benefits, allowing you to make more money this year without losing your Age Pension.

What do you think of this program, dear members? Are you willing to give this a try? Let us know in the comments below!

 

[Harro1948]

System is unfair, my wife and I get part of out Australia pension cut, because we both get small pensions from UK and USA. The total of these pensions don't amount to $300 a fortnight. The amount a pensioner can work before losing part of their Australian Pension. You tell me why is it different. !!!

 

[Royal Watcher]

You seem so angry. No one is stupid.
Have a nice day.

I agree, be nice people! It is confusing until you’ve done it!
And I’m always a bit sceptical of a Govt incentive! Somehow you seem to get caught out in the end if you’re honest.
I’ve retired & I feel so much better not having to jump through hoops with Centrelink all time proving this & that as if I’m doing something dodgy!
They don’t catch the cheats but do go after the honest peeps! Look at Robo debt!!
I don’t mind being taxed but I’d be happy if it was spent on the things that matter to EVERYONE! Good healthcare, housing, good educational outcomes for our children, climate change sense not ideology, less care about being ‘global’ & more care about being Australian & living & loving this beautiful country!
Where’s our pride in ourselves & this country & dare I say, patriotism!!
We show everyday how selfish, nasty & greedy people are, just by how we treat others & speak to others!
Even on this site I see peeps being rude to each other - it’s not on & it’s disappointing! I thought seniors could be a bit more mature in their approach but it seems like it’s social media!
Now I know why I don’t do any of that - I’d see more & worse than this & I don’t need to read how disgracefully people treat each other.
Sorry, but I don’t want to read these comments if they can’t be civil.
Have a great day & be caring?

 

[Gsr]

The work bonus has been a part of being a pensioner since my husband went on the pension in 2016, I’m sure it has been around years before that. The extra amount you can earn until December this year means you get to keep more pension as your work bonus is much higher, but the downside is your yearly income will be more, probably resulting in you having to pay tax. It will be interesting to see if after paying extra tax there was any benefit from the higher work bonus. My guess is there won’t be as the government won’t want us pensioners being any better off, what they give in bonus they will rip off us in extra tax. My beef is this, my husband doesn’t work but what I earn affects both his and my pension, however, his work bonus is not taken into account in any way with my earnings. He has $11,800 bonus sitting there but because he doesn’t work it does nothing. If my income results in both of our pensions being reduced then surely his work bonus should also be used for the benefit of both of us. As I said the government doesn’t do anything to benefit people on any sort of payments, every positive thing they do has at least 2 negatives to make sure no one gets ahead.

 

[Geoff8]

Obviously you pay tax on earnings and if you are working for a company then the tax is deducted from your wages and also don’t forget the super they have to pay too. I’m 70 still have a fork lift licence but no work around here for warehouse which is what I used to do and if I could would love to get a job in one loading and unloading trucks. That would do me.

 

[ericclarke]

With the cost of living increasing, having a little extra cash in your pocket can help out in these trying times. But for pensioners, the issue is usually how to get that extra income without affecting their Age Pension payments.

Fear not, however, because with the implementation of the government's Work Bonus program, extra money can be yours to earn—and now's the perfect time to take advantage of it!

But what is the Work Bonus program?

The Work Bonus increases the amount an eligible pensioner can earn from work before it affects their pension rate. The first $300 in their fortnightly income will not be counted under the pension income test.

View attachment 30168

The Work Bonus program enables pensioners to earn $300 more without affecting their pension. Credit: MultifacetedGirl/Shutterstock

This is on top of their regular pension income threshold—$204 for singles and $360 for couples.

Better yet, any unused income you have acquired from work over the two weeks is converted into an income bank that accumulates unused work bonuses to offset future income. This is great news for those who still have seasonal or irregular work.

That's not all. Last year saw the temporary credit increase the amount you can have in your income bank, changing your maximum balance of $7,800 to $11,800.

That means if you have never used the Work Bonus before, then there's still $11,800 available to you in your income bank until December 31st. Come January 1st, this will reset back to the standard limit of $7,800.

So with eight fortnights until the credit expires, single pensioners can potentially earn up to $1,979 a fortnight while also receiving $1,064 (or $1097 from September 20th) a fortnight in age pension payments, for a total of more than $24,500 for the remainder of the year.

Let's take a closer look at how it works:

The Work Bonus is available to all pensioners over the Age Pension age—that's 67 and above.

To be eligible, you must receive income from employment like salary, bonuses and commissions. For self-employed individuals, as long as the income is derived from work involving physical exertion—like plumbing or farming, they would be eligible.

It cannot be used for income derived from managing investments, investment properties, or domestic or gardening tasks in your home.

Take a look at this example. Sally is a single-age pensioner who has $52,000 in investments as well as $20,000 in personal assets. She has never used the Work Bonus before, yet she is thinking about taking a part-time job over the holidays to make a little extra money.

Sally's investments are deemed to earn $5 a fortnight, which counts towards the $204 income threshold. Taking advantage of her Work Bonus allowance and $300 concessional amount, Sally is able to earn $1,775 a fortnight from work.

This allows her to earn $1,780 a fortnight up until the end of the year while still receiving her pension.

Here's another example: Mike and Mary have $408,000 in investments and $20,000 in personal assets, and between them, they have $11,800 in their Work Bonus income bank.

Mike has been offered a part-time job as a handyman earning $800 a fortnight, while Mary has been offered a job in her local cafe earning $600 a fortnight.

Mike and Mary's investments are deemed to earn $276 a fortnight, and as we mentioned already, this counts towards the $360 income threshold that the couple must meet.

With their Work Bonus allowance, Mike and Mary's work income is completely offset, meaning Mike can earn up to $975 a fortnight while Mary can earn up to $1,175 a fortnight and still receive their full combined age pension of $1604 (or $1653 from September 20th).

Plus, they also have $84 a fortnight left of their income threshold to use if needed.

​

By the end of the year, Mike and Mary will have earned $30,608 in addition to their Age Pension payments amounting to $13,175—a total of more than $44,500 for the year!

To learn more about the Work Bonus program, you can visit the Department of Social Services website here. The application process for this program is also available on the website.

You may also visit a Centrelink office in person or call Services Australia at 13 2300.

Key Takeaways

• The Work Bonus enables pensioners to earn $300 a fortnight from work without affecting their pension payments on top of the pension income threshold. It also includes an income bank accumulating unused work bonuses to offset future income.
• A temporary Work Bonus credit increase, expiring on December 31, allows pensioners to have up to $11,800 in their income bank. From January 1, it resets to the usual limit of $7,800.
• The Work Bonus is available to all pensioners over the pension age of 67. Eligible income
  includes salary, bonuses, and commissions but does not extend to income from managing investments, investment properties, or domestic tasks in one's home.
• Given examples show that pensioners could earn significant extra income without affecting their pension payments. Single pensioners could possibly earn $1,780, while couples could earn $13,175.

Whether it’s to put a bit more merriment in your Christmas, for travel, or to put away in the bank, the Work Bonus program has its benefits, allowing you to make more money this year without losing your Age Pension.

What do you think of this program, dear members? Are you willing to give this a try? Let us know in the comments below!

Hello well i also think this is unfair Because Im disabled and cannot go back to work and my wife is also my carer but both under 67 but both over 60 and next year in October i turn 67 but what will this benift me NOTHING, and i say all carers should be able to access the work program as carers are allowed to work part time and keep the carers pension.

 

[London Lad]

Why does the government (which ever one) not say, You've earnt your pension, IT'S YOURS!! and if you want to/can work a bit extra....pay your tax on it and enjoy the rest of your life!!! Just a thought !!!!!!!!!

 

[Cheezil]

With the cost of living increasing, having a little extra cash in your pocket can help out in these trying times. But for pensioners, the issue is usually how to get that extra income without affecting their Age Pension payments.

Fear not, however, because with the implementation of the government's Work Bonus program, extra money can be yours to earn—and now's the perfect time to take advantage of it!

But what is the Work Bonus program?

The Work Bonus increases the amount an eligible pensioner can earn from work before it affects their pension rate. The first $300 in their fortnightly income will not be counted under the pension income test.

View attachment 30168

The Work Bonus program enables pensioners to earn $300 more without affecting their pension. Credit: MultifacetedGirl/Shutterstock

This is on top of their regular pension income threshold—$204 for singles and $360 for couples.

Better yet, any unused income you have acquired from work over the two weeks is converted into an income bank that accumulates unused work bonuses to offset future income. This is great news for those who still have seasonal or irregular work.

That's not all. Last year saw the temporary credit increase the amount you can have in your income bank, changing your maximum balance of $7,800 to $11,800.

That means if you have never used the Work Bonus before, then there's still $11,800 available to you in your income bank until December 31st. Come January 1st, this will reset back to the standard limit of $7,800.

So with eight fortnights until the credit expires, single pensioners can potentially earn up to $1,979 a fortnight while also receiving $1,064 (or $1097 from September 20th) a fortnight in age pension payments, for a total of more than $24,500 for the remainder of the year.

Let's take a closer look at how it works:

The Work Bonus is available to all pensioners over the Age Pension age—that's 67 and above.

To be eligible, you must receive income from employment like salary, bonuses and commissions. For self-employed individuals, as long as the income is derived from work involving physical exertion—like plumbing or farming, they would be eligible.

It cannot be used for income derived from managing investments, investment properties, or domestic or gardening tasks in your home.

Take a look at this example. Sally is a single-age pensioner who has $52,000 in investments as well as $20,000 in personal assets. She has never used the Work Bonus before, yet she is thinking about taking a part-time job over the holidays to make a little extra money.

Sally's investments are deemed to earn $5 a fortnight, which counts towards the $204 income threshold. Taking advantage of her Work Bonus allowance and $300 concessional amount, Sally is able to earn $1,775 a fortnight from work.

This allows her to earn $1,780 a fortnight up until the end of the year while still receiving her pension.

Here's another example: Mike and Mary have $408,000 in investments and $20,000 in personal assets, and between them, they have $11,800 in their Work Bonus income bank.

Mike has been offered a part-time job as a handyman earning $800 a fortnight, while Mary has been offered a job in her local cafe earning $600 a fortnight.

Mike and Mary's investments are deemed to earn $276 a fortnight, and as we mentioned already, this counts towards the $360 income threshold that the couple must meet.

With their Work Bonus allowance, Mike and Mary's work income is completely offset, meaning Mike can earn up to $975 a fortnight while Mary can earn up to $1,175 a fortnight and still receive their full combined age pension of $1604 (or $1653 from September 20th).

Plus, they also have $84 a fortnight left of their income threshold to use if needed.

​

By the end of the year, Mike and Mary will have earned $30,608 in addition to their Age Pension payments amounting to $13,175—a total of more than $44,500 for the year!

To learn more about the Work Bonus program, you can visit the Department of Social Services website here. The application process for this program is also available on the website.

You may also visit a Centrelink office in person or call Services Australia at 13 2300.

Key Takeaways

• The Work Bonus enables pensioners to earn $300 a fortnight from work without affecting their pension payments on top of the pension income threshold. It also includes an income bank accumulating unused work bonuses to offset future income.
• A temporary Work Bonus credit increase, expiring on December 31, allows pensioners to have up to $11,800 in their income bank. From January 1, it resets to the usual limit of $7,800.
• The Work Bonus is available to all pensioners over the pension age of 67. Eligible income
  includes salary, bonuses, and commissions but does not extend to income from managing investments, investment properties, or domestic tasks in one's home.
• Given examples show that pensioners could earn significant extra income without affecting their pension payments. Single pensioners could possibly earn $1,780, while couples could earn $13,175.

Whether it’s to put a bit more merriment in your Christmas, for travel, or to put away in the bank, the Work Bonus program has its benefits, allowing you to make more money this year without losing your Age Pension.

What do you think of this program, dear members? Are you willing to give this a try? Let us know in the comments below!

How do you get your head around all that? Need an accountant or have a degree in understanding life to understand anything these days!
Rules around super & Centrestink etc are so confusing! Take me back to when life was simple!

 

[Alicat09]

All very nice but I’m a pensioner who has been trying to get work for nearly two years. I’ve lost count of the number of jobs but am pretty sure my age is counting against me. On top of that, even basic cleaning work requires a minimum of a years experience plus, in many instances employers require me to get an ABN, and various bits of paper (none of which are free or even low cost) in order to even be eligible to apply. Just saying!

Yes, age-bias exists.

 

[Linwar]

I'm thinking most employers will employ younger people who they think will work longer and also has more stamina

They say there is no discrimination in employment but there definitely is, employers want young looking woman. I am lucky in that I have been with the same company for 16 years and they have told me I can stay until I choose to retire or slow down doing 4 hours a day BUT I know if someone my age came in to apply at my company now, they probably wouldn't be accepted.

 

[Jest]

Put a set of rules in place that stays in place rather than making changes to threshold amounts.

Keep it simple so Age pension recipients can know what they can earn with certainty.

you have just had it explained in english.

 

[Jest]

still get their regular pension.

tough luck.

 

[biribo]

still get their regular pension.

Yeah, but what sort of work can you expect from an aged infirmed person who has worked all their life and the government still wants more blood?
Count matches?