$700–$750 Cost of Living Benefit Coming This Week for Australians: Eligibility and How to Claim

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The $700 Cost of Living Benefit aims to provide financial relief to Western Australians facing rising electricity costs. This benefit, split into two instalments, offers a $700 credit on power bills to help manage household budgets during these inflationary times.

The program aims to provide extra financial assistance to eligible residents, helping them cope with increased living expenses and supporting the local economy. To find out if you qualify for the $700–$750 Cost of Living Benefit and to learn about the claim procedure, continue reading this article.

$700–$750 Cost of Living Benefit Coming for Australians This Week

Cost of Living Payment Date

The government is set to provide additional assistance to millions of Australians facing the rising cost of living. Starting this week, a relief package worth $700–$750 will be available to eligible households.

Announced earlier this year, the package aims to support residents struggling with increasing electricity bills. The $700 credit will be distributed in two installments: one during the coldest month and the other during the hottest month. This targeted approach helps reduce financial stress during periods of peak electricity usage.

Eligibility Terms for Cost of Living Benefits

For Australians, the upcoming $700–750 Cost of Living support will be available to those who meet the necessary qualifying criteria. Here’s how it works:

  • All households in Western Australia will receive a $700 credit on their electricity bill, regardless of their electricity provider.
  • The program also includes over ninety thousand small businesses. However, the specific eligibility criteria for businesses might not be fully disclosed yet.
  • This scheme aims to provide automatic credit to both Western Australian residential consumers and certain small businesses.

Cost of Living Claim Procedure

Claiming the credit is straightforward for most recipients. Here’s how you can avail the $700–750 Cost of Living payment:

  1. Visit the official website and navigate to the Create Account section to begin the process.
  2. If your household or small business receives electricity from Synergy or Horizon Power, you don’t need to take any action. The $700 credit will be applied to your bills in two installments automatically.
  3. However, if you use a different electricity retailer, the claiming process may vary. Applications for the credit through the Small Business Development Corporation and Revenue WA are expected to open in July.
  4. Eligible recipients who successfully apply will receive a $700 Cost of Living grant, disbursed in two installments.

Things to Know about the Cost of Living

The $700–750 Cost of Living support for Australians is set to open for applications this week, with the exact date soon to be announced. The specific dates for the credit installments have not been disclosed yet, but in Western Australia, they are expected to be distributed during the coldest and warmest months of the year.

This support offers significant benefits, but there are additional ways to manage electricity costs effectively. Consider the following tips:

  • Request energy efficiency audits from certified providers or your electricity retailer to identify areas where energy consumption can be reduced, leading to long-term savings.
  • Invest in energy-efficient appliances with high energy star ratings to lower electricity usage.
  • Compare electricity plans from different retailers to find better deals and potentially switch providers for savings.

Combining these strategies with the Cost of Living credit can help Western Australians navigate economic challenges and manage their electricity bills effectively.

The $700–750 Cost of Living Benefits will provide immediate financial relief to eligible individuals, easing the burden of reduced electricity bills during this period of inflation. To stay informed about application details and updates, visit the official government website or contact relevant authorities.

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