What is the Work Bonus and how does it apply?
With the Work Bonus temporary credit of $4000 expiring on December 31, maybe this year is a good time to get a job as Santa, literally.The Work Bonus enables pensioners to earn $300 a fortnight from work without it affecting their pension payments. The bonus is on top of the pension income threshold, which is $204 a fortnight for singles and $360 a fortnight for couples.
Mike and Mary have $408,000 of investments and $20,000 in personal assets. Mike has been offered part-time work as a handyman earning $800 a fortnight. While Mary is going to take a part-time job at her local cafe earning $600 a fortnight. Both Mike and Mary have $11,800 in their work bonus income bank.
Whether it’s to put a bit more merry in your Christmas, to spend on travel or to have some extra money in the bank, the work bonus could put more money in your pocket this festive season.
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