Millions to receive $750 coronavirus payments: How you’ll get them

Here's how you'll receive the $750 coronavirus payment. Image: Getty

This story has been republished to reflect updated Treasury information.

Around 6.5 million Australians will receive a one-off economic support payment of $750 from today, as the government begins rolling out its first stimulus package. 

The first set of $750 payments will land in 6.6 million Australians’ pockets, including 2.4 million pensioners from 31 March, with the government expecting most eligible Australians to receive the payment by 17 April. 

Eligible Australians, including those on the Age Pension, the Disability Support pension, JobSeekers Allowance, Youth Allowance, Family Tax Benefits and veterans are eligible for the first set of $750 payments. 

However, only a smaller group is eligible for the second set of $750 payments, announced on 21 March. That’s because many Australians eligible for the first payment will be eligible for the Coronavirus Supplement, which is a higher fortnightly payment, and as such are not eligible for the second $750 payment. 

Source: Australian Government Treasury

The second set of $750 payments will arrive from 13 July. 

How will I receive the $750 coronavirus payment?

This payment is automatic, meaning the $750 should land in your bank account, as long as you fulfil the eligibility criteria. If you hold a Veteran Gold Card, the Department of Veterans Affairs will be in touch to confirm account details so the payment can be made. 

However, the government advised Australians to have their details up-to-date on the MyGov website or Express Plus Centrelink app. 

You will also receive the payment if you have lodged a claim for one of the income support payments or concession cards listed above at any time from 12 March to 13 April 2020, and have had the claim granted. 

Australians will only receive one payment of $750 in each set of payments, regardless of whether they are receiving more than one source of income support, for example a person receiving the JobSeekers allowance while also receiving Family Tax Benefits. 

The payment is tax-exempt and will be listed as having been made by Services Australia, or the Department of Veterans’ Affairs. 

Make your money work with Yahoo Finance’s daily newsletter. Sign up here and stay on top of the latest money, news and tech news.

Follow Yahoo Finance Australia on FacebookTwitterInstagram and LinkedIn.