Proposal Summary
1
Change Work Bonus Threshold from $300 per fortnight to $500 per fortnight
2
Index Work Bonus threshold in line with Pension rates every March & September
3
Establish if Centrelink treat earnings from working and Pension deductions as individual income or a couples income to rectify current inflated taxable income for the Earner
4
Stop compulsory fortnightly reporting (apart from cash payment) as Centrelink are now receiving that information
Advantages
- Improve workforce shortage
- Potentially reduce Government expense
- Provide opportunity to improve Pensioner living standard
- Improve Pensioner mental health
Threats
- Participation does not return to pre-covid levels
- $500 per fornight work bonus threshold not enough to reactivate dormant Workforce
Assumptions
- Pensioner numbers declaring earnings from employment return to pre-covid levels