Social Security and Other Legislation Amendment (Supporting the Transition to Work) 2023

# Social Security and Other Legislation Amendment (Supporting the Transition to Work) 2023 ## What it does This law makes it easier for pensioners and veterans to earn money without losing their benefits. It increases the amount people can earn before their payments are reduced, and creates a new "nil rate period" that lets eligible people work without an immediate financial penalty. ## Why it matters Pensioners and veterans who want to work part-time or transition back into employment won't face as harsh a financial hit. This removes a barrier that previously made working feel pointless because your benefit cuts would wipe out your wages. ## Key details - **Pensioner work bonus**: From 1 January 2024, pensioners get an unused concession balance of $4,000 to earn each year before their pension reduces. If they don't use it all, it carries over. - **Employment income nil rate period**: From 1 July 2024, eligible people can work and earn income for a set period without their pension or allowance being reduced at all—giving them a genuine chance to get back on their feet. - **Applies to**: Age pensioners, disability support pensioners, veterans, and people receiving similar long-term payments who are trying to work or return to work.

🔒 Voting closed — this bill has been decided by parliament