The Australian Government commits to provide a stable lifestyle to all the citizens of the country regardless of their age. The Government benefit providing agency – Centrelink issues several benefits to the young individuals, adults and seniors to maintain their dignity of life throughout life. Several benefits provided include Carer Payment, JobSeeker Payment, Age Pension etc. Another such benefit provided to the individuals qualifying for Age Pension is the Centrelink Home Equity Access Scheme 2024. This scheme is provided to all eligible individuals aged 67 and above to seek Loans as a part of their home equity. This equity can be used in real estate as a collateral. This benefit enhances the well-being of the seniors allowing them to enjoy their retirement years.
Centrelink Home Equity Access Scheme 2024
The Centrelink Home Equity Access Scheme 2024 enables the beneficiaries to receive payments every fortnight depending on the home equity that helps them afford basic necessities like healthcare, medical facilities, groceries etc. The scheme can be availed by individuals receiving age pension. In case the individuals are not receiving age pension, they must be claiming Farm Household Allowance to be eligible for the Australia Home Equity Access Scheme 2024. The eligible individuals qualify to claim up to 1.5 times of their maximum pensionable amount from this scheme. Overall, this scheme benefits the senior population of Australia by allowing them to be capable enough to meet their financial needs.
servicesaustralia.gov HEAS 2024 – Overview
| Post | Centrelink Home Equity Access Scheme 2024 |
| Proposed By | The Government of Australia |
| Country | Australia |
| Benefit Providing Agency | Centrelink |
| Main Purpose of the Payment | Financial Assistance to cope up with Inflation |
| Eligibility | Pension seekers aged 67 and above |
| Payout Frequency | Fortnightly |
| Payment Amount | Check Below |
| Post Type | Finance |
| Official Website | servicesaustralia.gov |
Centrelink Home Equity Access Scheme Eligibility 2024
- Individuals and their partners age 67 years and above
- Individuals claiming Age Pension, Carer payment or Disability Support Pension
- Individuals own a property along with their partner in Australia that can be used as a collateral
- Individuals are not involved in a case of bankruptcy
- Individuals have insurance for the collateral offered by them.
- Individuals who do not qualify for Age Pension but receive Farm Household Allowance are eligible to claim Centrelink Home Equity Access Scheme
Centrelink Home Equity Access Scheme Payment Amount 2024
The decision for a Home Equity Access Scheme to be granted to the individuals is based on the fact that whether the individuals receive Pension or not.
| Status | Benefit |
| Individuals receiving Pension | Fortnightly Loan Amount + Pension Payment cannot exceed 1.5 times the maximum pension amount received by the individuals. |
| Individuals who do not receive a pension | Fortnightly Loan Amount up to 1.5 times of the pension amount received by the pensioners |
Centrelink Home Equity Access Scheme Payment Calculator
The individuals can use the Centrelink Home Equity Access Scheme for calculating their eligible loan amount and future loan payments.
The individuals can calculate the Maximum Loan Amount by following the procedure given below:
- Visit servicesaustralia.gov
- Sign In to myGov Account
- Click on “Payments and Claims”
- Find “ Home Equity Access Scheme Calculator” tab below “Manage Payments” option
- Get the result for the maximum loan amount
This loan amount increases with increasing age of the beneficiaries.
How To Claim Australia HEAS 2024
The Centrelink Home Equity Access Scheme can be claimed online:
- Visit servicesaustralia.gov
- Sign In to myGov and link to Centrelink
- Click on “Make a Claim”
- Click “Get Started” under “Older Australians”
- Prove Identity by providing CRN
- Attach supporting documents
- Click “Apply for a loan under Home Equity Access Scheme”
- Submit Claim
FAQs Related To Centrelink Home Equity Access Scheme 2024
The old age population aged 67 and above qualifies to receive the Centrelink Home Equity Access Scheme 2024.
The individuals receiving a pension qualify to avail a loan amount including a pension amount of up to or below 1.5 times their maximum pension amount.
The individuals can use the Home Equity Access Scheme calculator to calculate their Loan Amounts.
In this matter, only the individuals claiming Farm Household Allowance are eligible to claim the Home Equity Access Scheme 2024.