The federal budget includes billions in 'targeted relief' for the most vulnerable Australians. Here's where the funds are going.
abc.net.au/news/federal-budget-cost-of-living-relief-energy-housing-medicines/102322830The 2023-24 federal budget includes $14.6 billion of what the government calls "targeted relief" for Australians who are struggling with the rising cost of living.
Rebates will be applied directly to electricity bills — a move the government says will "minimise any potential inflationary impacts". There's also money to help homes and businesses reduce their bills by becoming more energy efficient. The government says the incentive will help businesses pay for upgrades such as electrifying heating and cooling systems, installing batteries, and switching to more efficient electrical goods."Up to 3.8 million small and medium businesses with aggregated annual turnover of less than $50 million will have access to a bonus 20 per cent tax deduction for the cost of eligible depreciating assets, from 1 July 2023 until 30 June 2024.
"This will provide up to $31 extra a fortnight for people renting in the private market and community housing," Mr Chalmers says. to "any two borrowers jointly applying beyond the scope of spouse or de facto couples, and non-first home buyers who have not held a property interest in Australia within the previous 10 years".
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cost of living combo for Australian households to cost $14.6bHouseholds will gain $14.6 billion in federal help with expenses ranging from energy subsidies to healthcare as part of a budget agenda that seeks to drive down inflation and prevent rising prices eating into family incomes.
Read more »
‘Labor paying lip service’: Upcoming budget needs to ‘tackle inflation head on’Shadow Finance Minister Jane Hume says the only way Treasurer Jim Chalmers can bring down the cost of living for all Australians in the upcoming budget is to “tackle inflation head on”. “That’s what we’ll be looking for, a specific policy, a specific target to tackle inflation,” Ms Hume told Sky News host Amanda Stoker. “There has to be anti-inflationary policies in this budget on Tuesday night, otherwise it’s simply just Labor paying lip service to the cost-of-living crisis that’s facing Australians today.”
Read more »
The Australians set to miss out on $500 energy reliefThousands of families doing it tough are not expected to qualify for the government’s energy relief measure, which is included in the broader $14.6 billion cost-of-living package.
Read more »
A lot of Australians are ‘too lazy’ to workOne Nation Leader Pauline Hanson says a lot of Australians are “too lazy” to find a job and work because they want a lifestyle “paid for by the taxpayer”. “We’re going to be left behind, because you’re going to have people coming out here from other countries to take the jobs that belong to Australians,” Ms Hanson told Sky News host Cory Bernardi. “At the end of the day you won’t have the taxpayers or the money in this country to be able to pay for your lifestyle anymore.”
Read more »
One group of ‘struggling’ Australians set for major budget boostMore than 55,000 Australians will receive much needed relief in Tuesday’s budget targeting the country’s most vulnerable households.
Read more »