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Unemployment Benefits: Amounts
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For people renting their accommodation, unemployment benefits are supplemented by Rent Assistance, which, for single people, begins to be paid when the weekly rent is more than AUD$45.90. Rent Assistance is paid as a proportion of total rent paid. The maximum amount of rent assistance payable is AUD$51.60 per week, and is paid when the total weekly rent exceeds AUD$114.70 per week. Different rates apply to people with partners and/or children, or who are sharing accommodation.
Unemployment benefits from a private fund to which you voluntarily contribute are taxable only if the amounts you receive are more than your total payments into the fund. This taxable amount is not unemployment compensation; it is reported as other income on Form 1040, Individual Income Tax Return.
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In Australia, social security benefits, including unemployment benefits, are funded through the income tax system. There is no compulsory national unemployment insurance fund, rather, benefits are provided for in the annual Federal Budget by the National Treasury and are administrated and distributed throughout the nation by Centrelink. Benefit rates are indexed to the Consumer Price Index and are adjusted twice a year according to the amount of underlying inflation or deflation.
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