Around one million young people, carers and students will receive a boost to their social security payments from January 1, 2023.

Social Services Minister Amanda Rishworth said the funding will have a significant impact on the hip pockets of young people who are either studying, looking for work or receiving the Disability Support Pension if they are under 21 and don’t have children. “Income free areas for student income support recipients will also benefit from indexation, meaning they are able to earn more before their payment is impacted,” she said.

Those under 21 without children receiving the Disability Support Pension will receive payment increases of between $27.40 and $40.70 a fortnight, including the Youth Disability Supplement.

Rates of ABSTUDY and Assistance for Isolated Children will increase, as will Mobility Allowance, Double Orphan Pension, Carer Allowance and Pharmaceutical Allowance.

More details on the new payment rates and thresholds are available on the Department of Social Services website.