More cost of living help, including energy bill relief for every household and a tax cut for every taxpayer.
Easing cost-of-living pressures
Relief for every household and a tax cut for every taxpayer
Cost of living relief, while putting downward pressure on inflation is the Albanese government's number one priority.
A tax cut for every taxpayer
From 1 July 2024, every Australian taxpayer will get a tax cut. Labor's cost of living tax cuts are about rewarding hard working Australians. The tax cuts also create opportunities for people to take on more hours of work and keep more of what they earn.
See the online tax cut calculator for your savings.Power bill relief
From 1 July 2024, every Australian household will receive an electricity bill rebate of $300. These rebates will help families pay their bills, while putting downward pressure on inflation.
The credits will be automatically applied to electricity bills in $75 quarterly instalments.
Cheaper medicines
The maximum cost of PBS prescriptions will be frozen for 12 months. For Australians with pensioner or concession cards, the price for will be frozen for five years.
And more life changing medicines are being added to the PBS list.
Getting a fair go when you're shopping
The government wants to make sure Australians are getting a fair deal at the checkout. That's why supermarkets will be held to account with a stronger competition watchdog, and a mandatory Grocery Code of Conduct.
Increasing competition and accountability in the sector will help secure fairer prices.
The ACCC has examined allegations of fake discounts on hundreds of products like snacks, dishwashing detergent, and mouthwash. The government is providing the ACCC with more funding to crack down on supermarkets misleading customers.
The practice of 'shrinkflation' – where the size of a product is reduced but the price at the supermarket is the same or even increases – is becoming increasingly common. That's why the government is strengthening the unit pricing rules to ensure supermarkets provide the information Australians need to find the best deal.
More Australians are getting slugged by surcharges. Consumers shouldn't be penalised for using cards or digital payments, and small businesses shouldn't have to pay hefty fees just to get paid themselves. The government has instructed the ACCC to tackle excessive surcharges, with further work underway to reduce payment fees.
From concert tickets to hotel rooms and gym memberships, Australians are fed up with businesses using tricky tactics that make it difficult to end subscriptions, or add hidden fees to purchases. The government is also taking action to stop businesses ripping off Australians by banning unfair trading practices under the Australian Consumer Law.
More help for renters
The first back-to-back increase to Commonwealth Rent Assistance in more than 30 years will deliver a further 10% increase on top of the 15% increase in the previous budget.
This is much needed support for renters across the country who are doing it tough.