Australians earning up to $126,000 a year will receive a one-off payment to help ease the cost of living pressures.

The payment was introduced as a temporary measure in 2018 but has been extended during the pandemic

2GB Federal Politics Editor Michael Pachi confirmed that tonight’s budget will see the offset increase by $420 to $1500.

He told Jim Wilson, “It’s a one-off measure”.

It will be available after the first of July, once a tax return is lodged.

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