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The total Cost of Living Payment is $350. This will be split and paid in 3 amounts for most customers.

The 3 main payment dates and amounts are:

  • 1 August 2022 - $116.67
  • 1 September 2022 - $116.67
  • 3 October (the first business day of the month) - $116.66.

If you have a credit union account, you'll get your payment the day after each payment date.

The payment will show as 'CostOfLiving' in your bank account. In myIR the date will show the day we processed the payment, which may be earlier than the day you get it.

We will check if you are eligible before each payment

We'll check to see if you're eligible to get the Cost of Living Payment before each monthly payment is made. Some people may not be eligible for all 3 payments.

If you're eligible when we check, you'll get the full payment for that month. Payments will not be paid for a part of the month.

If you miss any payments you are eligible for

If you do not get any payments you were eligible for because your Income tax return (IR3) is filed or Income assessment is completed after any of the 3 main payments have been made, you'll get either:

  • any payments that have not been made yet and a lump sum of any payments you were eligible for but missed
  • a lump sum based on the number of payments you are entitled to if all payment dates have passed.

We will check if you are eligible up to 31 March 2023

We will check if you are eligible for the Cost of Living Payment up to 31 March 2023.

This means that if your IR3 is filed or income assessment is created on or:

  • before 31 March 2023 - we will check if you're eligible for the payment (even if your IR3 is processed or assessment completed after this date)
  • after 1 April 2023 - we will not check if you're eligible for the payment (even if your tax agent has applied for and been granted a deferment to file later).
Last updated: 30 Sep 2022
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