Here’s how you can make an extra $300 every two weeks without risking your pension

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.


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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!
 
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Yea but you have to be really careful here. I don’t work but my husband works full time and receives the appropriate pension after reporting his wages fortnightly and he ends up with a minimum tax bill every year of at least $4000. He is not on a big wage so just take that into consideration when thinking of going back to work
 
This is not news to anyone on the pension- however thanks for restating it for those who may not know about it.
The problem is finding work as there are many students looking for the kind of work we can do and people would rather employ a young person with more energy for jobs like cleaning/ child care/ after school care/ driving etc. I know I’ve been looking for a long time.
It’s not at all easy - people expect older people to volunteer- as if we’re all rolling in cash!
 
Its very fair if you use it like I have, it saves a fair bit of money over the year, especially if you are drawing on super.
We’re all in a different financial position- so fair and unfair doesn’t enter into the discussion.
It is what it is and we have to work with what we’ve got.
 
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I hope pensioners don't get confused by all of this and end up owing money
Yeah there used to be an old saying where I worked "keep it simple stupid" This was often used for people who babbled on for so long when what they wanted to say should have taken no more than a few minutes
 
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This is not news to anyone on the pension- however thanks for restating it for those who may not know about it.
The problem is finding work as there are many students looking for the kind of work we can do and people would rather employ a young person with more energy for jobs like cleaning/ child care/ after school care/ driving etc. I know I’ve been looking for a long time.
It’s not at all easy - people expect older people to volunteer- as if we’re all rolling in cash!
Yep I applied for 100 jobs a couple of years ago never even got an interview so I gave up
 
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Reactions: DrivingGirl
I have been using the Work Bonus for 2 years, I also draw on my super of $400 a fortnight. Of my wage I put $200 a week back into my super account there by off setting my taxed wage as well. tax on my wage is generated after the super has been taken out, so I am still further ahead. All these little loop holes help to save $$$$$ over a year
Sounds like you need an economics degree to fathom the system. It’s beyond me. I’m better off Not working.
 
In my opinion this is not a fair deal to the people who cannot work owing to age and disabilities
I think it's fair, they are working for what they receive. I can't work but I am happy for those who can and earn a little extra.

You say it's not fare for those who can't work , what do you want them to do, not allow those who can work to do so ?
 
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Yes, label us pensioners as stupid. Go on, no respect.
We didn't come down in the last shower: we came down in the one before. Scheming lot of thieves, always with one plan in mind . "GET US>"
If you can't rip us off one way there is always another. The tax boy rules over all. We might have white hair but you'll never color it with worry.
Everyone is different . We had no superannuation likewise many in our time. What was that saying about, "Save the pennies & the pounds will take care of themselves?" an d as we are sure of a cashless society, how are we going to give little kids a
'handout" for odd jobs????? How can they cash what you cannot give them? See?? They're onto the children now. What the.......





and we live in the country of plenty!!!!! When will they EVER get it right?????
 
  • Haha
Reactions: Trudi
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!
And if getting the ABN and you are classed as a sub contractor you will have to have all the IH&S
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!
of getting an ABN classes you as a sub contractor you will then need to have all your OH&S policies, procedures and risk assessments in place. You won’t most likely get sick pay so instead of the business you work for covering all that it becomes your problem. Depending on the job expect to pay $10,000 although some will be less. You have to have all the stuff that you need to operate a business legally. I know there is a lot of people here in Australia who don’t bother but have an accident and then you are in trouble
 
is there tax to be payed on these extra earnings ??
Is this a serious question or are you being funny .

If it is then yes once your combined income goes above I think it's $19,600 you need to pay tax on what ever you earn over that.

All pensions and jobseeker are classed as income and gets added together with whatever you earn
 
Not only am I confused, I have a work bonus of over $3000 yet I am being taxed by almost $4000 off my pension even though I paid tax on my work income. Talk about give with one hand and take with the other
If you are working then you wage and pension combine and you pay tax. I would be asking centrelink to take a little out each fortnight for tax
 
In my opinion this is not a fair deal to the people who cannot work owing to age and disabilities
I have to agree with this, I am unable to even make a cup of tea without spilling all over me taking it to where I want to drink it. I would do anything to have a part-time job. Once again I find myself discriminated again because I am unable to work. This so called equal opportunities system has been used to keep me as poor and isolated as it can. It has succeeded in doing this very well. There must be thousands of people like me, I really feel for people like me that follow the rules and nothing but a basic pension in return after working their entire life paying taxes, only to be totally ignored when they need it.
 
And if getting the ABN and you are classed as a sub contractor you will have to have all the IH&S

of getting an ABN classes you as a sub contractor you will then need to have all your OH&S policies, procedures and risk assessments in place. You won’t most likely get sick pay so instead of the business you work for covering all that it becomes your problem. Depending on the job expect to pay $10,000 although some will be less. You have to have all the stuff that you need to operate a business legally. I know there is a lot of people here in Australia who don’t bother but have an accident and then you are in trouble
"you will have to have all the IH&S" - Information Handling Services?
 

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