How to cash in on budget promises
Millions of Australians will receive a boost from the federal government toward medical care, bills and welfare payments after Treasurer Jim Chalmers handed down his first budget.
Amid the forecast that the budget will be back in the black with a slim surplus of $4bn this financial year, there will be some help for Australians struggling with the cost of living.
Medicare relief
The Chalmers budget is promising more bulk-billed doctors visits to nearly 12 million Australians in what the government is calling a “historic investment” in Medicare.
GPs will have increased incentives to provide free visits for children under 16, pensioners and other concession card holders.
They will also be able to claim more incentives for in-person consultations longer than six minutes and certain telehealth consultations.
Bill help
More than five million eligible households and one million eligible small businesses will now be able to get help with energy bills thanks to a deal between the states and Commonwealth worth $1.5bn.
Eligible people who are on the pension, are a seniors card holder or a recipient of family tax benefits A and B will reap the benefits of the scheme.
These Australians will have the relief directly applied to their power bills as credits rather than being handed cash and the amount they receive will depend on the state they live in.
Welfare recipients
More than 1.1 million of the most vulnerable Australians will benefit from a $40 per fortnight boost to their welfare payment from September if parliament agrees.
The raised base rate will be applied to people receiving JobSeeker, Youth Allowance, Parenting Payment (partnered), ABSTUDY, Disability Support Pension (Youth) and Special Benefit.
However, this falls short of the advice of the government’s economic equality task force that had recommend JobSeeker raise to 90 per cent of the aged pension.
Rental assistance
The budget contains a chilling message to renters with the forecast that rents will increase over the year as the market tightens.
However, more than 1.1. million households that receive the maximum Commonwealth Rent Assistance allowance will have their payments increased by 15 per cent.
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