The 2023-4 Federal Budget has officially been handed down, and while it holds the line on fiscal discipline, there are some exciting announcements that impact Australian seniors.

‘There are many direct benefits that older Australians will receive in their wallets out of this year’s budget,’ confirmed Council on the Ageing Australia CEO Patricia Sparrow.

Without further ado, here’s a breakdown of the 2023 federal budget and how it will impact you.

Everything you need to know about the 2023-4 Federal Budget. Image Credit: Shutterstock

Cost of living

Energy bill relief

The highly anticipated $14.6bn cost-of-living package will relieve some pressure on Australians.

‘People are under the pump,’ said Treasurer Jim Chalmers.

Households receiving income support payments, including pensioners, veterans, concession card holders, and recipients of carer’s allowance, will receive hundreds of dollars in energy bill relief.

From July 2023, eligible residents in New South Wales, Queensland, South Australia and Tasmania will receive $500, including $250 each from the federal and state governments;

Meanwhile, Victorians will receive $250 from the federal government after already receiving state government assistance in March.

Those living in the Australian Capital Territory, Western Australia and the Northern Territory will receive a slightly different amount – ‘about $350 from the federal government and $175 from their own governments’. This variation has been put down to the decreased energy pricing volatility.

JobSeeker increase

There is a base increase of $40 a fortnight to all JobSeeker payments.

But the news doesn’t stop there. Australians aged 55-59 will now receive the higher JobSeeker rate previously reserved for those over 60. They will receive an additional $92.10 a fortnight (singles).

Estimates expect some 52,000 Australians will receive this boost. Are you interested in reading more? We wrote about this ‘modest JobSeeker increase’ here.

Rent assistance

The Commonwealth Rent Assistance (CRA) maximum rate is increasing by 15% (up to $31 extra a fortnight) to combat rising rental prices.

The $2.7bn measure is expected to benefit 1.1m households.

New rates will begin from 20 September 2023, pending legislation passing parliament.

Aged Care and Home Care Packages

$11.5bn is being spent on increasing pay for aged care workers by 15%. The focus on recruiting more workers to the field is expected to raise standards of care. This is the largest ever increase for this sector.

For those wishing to remain at home, the Government is committing $166.8m to provide an additional 9,500 home care packages.

The Government will also provide $487m to the Disability Support for Older Australians Program.

Medical

The budget also has some excellent healthcare news, including Medicare rebates for consults longer than 60 minutes, new urgent care clinics with no out-of-pocket fee, accelerated bulk-billing incentives for GPs and increased telehealth services. This $5b Medicare boost came as a welcome surprise on Tuesday night. The move is expected to create millions more bulk-billed GP appointments.

‘This $4.9 billion investment will see more GPs bulk-billing pensioners and healthcare card holders without charging a co-payment,’ said Council on the Ageing Australia CEO Ms Sparrow.

‘So many of my patients will be relieved at the change as for months they have been chasing a bulk billing clinic they can afford, where they can get consistent care from a doctor they have known for years.’ said Dr Tim Woodruff, President, Doctors Reform Society.

There will also be fewer trips to the pharmacy with double the medication dispensed each visit (two months’ supply instead of one) for the same price. You can read our article about this here. It will apply to some 300 medicines currently on the Pharmaceutical Benefits Scheme and is expected to save concession card holders up to $43.80 per year per eligible medicine.

We wrote about this back in April amid concerns from pharmacists that the double prescription change would result in shortages of essential medicine. You can read more here.

Now let’s break this up further and look at the ‘winners’ and ‘losers’ of the 2023-4 federal budget.

Winners:

Low-Income Renters

If you live in rental accommodation, you might be happy to hear that the maximum rate of the Commonwealth Rent Assistance (CRA) payment will be increasing by 15% from September 20. This could mean a payment boost of up to $23.60 per fortnight (an increase from $157.20 a fortnight to $180.80) for single people with no dependants who are receiving the maximum CRA and do not share their rental home with anyone else.

Veterans

The Federal Budget is also improving services and support for veterans. There will be extra resources to tackle the backlog of support claims, plus increased demand for complex casework, rehabilitation, health approvals and pharmacy services. There will also be an additional $2m spent over two years to continue the Mental Health Literacy and Suicide Intervention Training program to help ex-service personnel.

Welfare Recipients (Some, not all)

For those receiving Centrelink benefits, the base rates of some payments will be rising by $40 per fortnight from September 20. This includes Youth Allowance, JobSeeker, Partnership Parental Payment and Austudy.

Welfare recipients are also eligible for a $500 payment off their energy bills under the Electricity Relief Grant Scheme, including pensioners and seniors health card holders. The government claims more than 5 million households will have up to $500 deducted from their power bills next financial year.

Now, the budget does also contain ‘bad news’ for some Australians. Read on to find out who was left behind in the 2023-4 federal budget.

Losers:

Travellers

Travellers taking off overseas will be hit with a $10 increase in the passenger movement charge, rising from $60 to $70 per passenger from July 1, 2024.

Smokers

The Government is increasing the tobacco excise by 5% a year for the next three years to help curb smoking in Australia.

What are they using this extra money for? The higher-taxed tobacco will pay for anti-vaping campaigns over the next four years.

It’s expected that $63.4m will be allocated to advertising campaigns, while $29.5m will be set aside for support services supporting Australians to quit smoking and vaping.

So there could be less second-hand smoke floating around your local city/shopping centre soon.

Middle-Income Renters

Middle-income renters may be disappointed that there is no immediate relief for them in the budget. The Government's incentives for build-to-rent schemes won't be creating new dwellings in the rental market for a few years.

Scammers

Technically this one is a positive for Australians – but it’s certainly a bad time to be a scammer. The Government will be setting up a $58m National Anti-Scam Centre to tackle the rising number of online scams in Australia. They'll also be introducing a $10.9m SMS Sender ID Registry to combat phoney text messages and allocate $17.6m in funds to identify and take down investment scams.

Overall, this is a $86.5m investment over four years.

Key Takeaways

• The 2023 federal budget focuses on cost-of-living relief, housing, healthcare, and clean energy measures, benefiting specific sectors of society.
• Low-income renters and welfare recipients will receive increased financial support.
• Healthcare funding will expand, increasing bulk-billing incentives for doctors, aged care worker salaries, and improving services for veterans.
• The budget aims to crack down on tobacco and online scammers but offers limited immediate relief for middle-income renters.

Inflation concerns?

The most vocal concerns going into the budget came from economists predicting that the cost of living packages would be inflationary.

So, what’s the verdict?

According to Greg Jericho, The Guardian columnist and policy director at the Centre for Future Work, ‘This is in no way an expansionary budget.’

The bottom line

We’ll see an increase in rent assistance for low-income renters, energy bill relief, an increase in JobSeeker and more bulk-billed GP appointments.

There has already been some opposition to the budget, with Greens leader Adam Bandt stating the budget is ‘a betrayal of renters, jobseekers and people doing it tough’.

Opposition Leader Peter Dutton will give his budget reply speech tonight.

This marks Labor’s first budget surplus in 15 years.

Did you tune into the budget, members? Did the government meet your expectations? Do you feel like the budget is addressing YOUR needs? Or do you feel left behind? Please let us know all of your thoughts and opinions in the comments below!

 

[siameezer]

I disagree that low-income renters are the winners. Yes RA has been increased (and I am grateful for that) BUT I do NOT trust greedy property managers who will convince landlords to increase rents to swallow up that increase in rent assistance.

 

[Jen jen]

I understand your frustration with rising rent, but bear in mind that a lot of investment properties have loans against them…. When there is a rise in interest rates, the owners of these properties need to also increase the rent to cover costs of the loan, body Corp increases and insurances… and let’s not forget groceries, fuel, etc etc that the owners pay for their day to day living…rental properties are not a gift… without investors… there are no rental properties….

 

[Caron]

Very much doubt that my Doctors surgery will return to bulk billing when they have already organised for all to pay.

 

[willywop]

i am happy for renters but old age pensioners that worker and scrimped went without to buy their house AND STILL PAY MORGAGES SHIRE RATES WATER RATES AND MAINTANCED ON THEIR HOMES GET NOTHING is this fair

 

[TessM]

I understand your frustration with rising rent, but bear in mind that a lot of investment properties have loans against them…. When there is a rise in interest rates, the owners of these properties need to also increase the rent to cover costs of the loan, body Corp increases and insurances… and let’s not forget groceries, fuel, etc etc that the owners pay for their day to day living…rental properties are not a gift… without investors… there are no rental properties….

 

[TessM]

Without a reasonable rise in the Aged Care pension, those in private rental will still struggle. Also the government had delayed better outcomes for home care packages

 

[Glen44]

The 2023-4 Federal Budget has officially been handed down, and while it holds the line on fiscal discipline, there are some exciting announcements that impact Australian seniors.

‘There are many direct benefits that older Australians will receive in their wallets out of this year’s budget,’ confirmed Council on the Ageing Australia CEO Patricia Sparrow.

Without further ado, here’s a breakdown of the 2023 federal budget and how it will impact you.

View attachment 19453

Everything you need to know about the 2023-4 Federal Budget. Image Credit: Shutterstock

Cost of living

Energy bill relief

The highly anticipated $14.6bn cost-of-living package will relieve some pressure on Australians.

‘People are under the pump,’ said Treasurer Jim Chalmers.

Households receiving income support payments, including pensioners, veterans, concession card holders, and recipients of carer’s allowance, will receive hundreds of dollars in energy bill relief.

From July 2023, eligible residents in New South Wales, Queensland, South Australia and Tasmania will receive $500, including $250 each from the federal and state governments;

Meanwhile, Victorians will receive $250 from the federal government after already receiving state government assistance in March.

Those living in the Australian Capital Territory, Western Australia and the Northern Territory will receive a slightly different amount – ‘about $350 from the federal government and $175 from their own governments’. This variation has been put down to the decreased energy pricing volatility.

JobSeeker increase

There is a base increase of $40 a fortnight to all JobSeeker payments.

But the news doesn’t stop there. Australians aged 55-59 will now receive the higher JobSeeker rate previously reserved for those over 60. They will receive an additional $92.10 a fortnight (singles).

Estimates expect some 52,000 Australians will receive this boost. Are you interested in reading more? We wrote about this ‘modest JobSeeker increase’ here.

Rent assistance

The Commonwealth Rent Assistance (CRA) maximum rate is increasing by 15% (up to $31 extra a fortnight) to combat rising rental prices.

The $2.7bn measure is expected to benefit 1.1m households.

New rates will begin from 20 September 2023, pending legislation passing parliament.

Aged Care and Home Care Packages

$11.5bn is being spent on increasing pay for aged care workers by 15%. The focus on recruiting more workers to the field is expected to raise standards of care. This is the largest ever increase for this sector.

For those wishing to remain at home, the Government is committing $166.8m to provide an additional 9,500 home care packages.

The Government will also provide $487m to the Disability Support for Older Australians Program.

Medical

The budget also has some excellent healthcare news, including Medicare rebates for consults longer than 60 minutes, new urgent care clinics with no out-of-pocket fee, accelerated bulk-billing incentives for GPs and increased telehealth services. This $5b Medicare boost came as a welcome surprise on Tuesday night. The move is expected to create millions more bulk-billed GP appointments.

‘This $4.9 billion investment will see more GPs bulk-billing pensioners and healthcare card holders without charging a co-payment,’ said Council on the Ageing Australia CEO Ms Sparrow.

‘So many of my patients will be relieved at the change as for months they have been chasing a bulk billing clinic they can afford, where they can get consistent care from a doctor they have known for years.’ said Dr Tim Woodruff, President, Doctors Reform Society.

There will also be fewer trips to the pharmacy with double the medication dispensed each visit (two months’ supply instead of one) for the same price. You can read our article about this here. It will apply to some 300 medicines currently on the Pharmaceutical Benefits Scheme and is expected to save concession card holders up to $43.80 per year per eligible medicine.

We wrote about this back in April amid concerns from pharmacists that the double prescription change would result in shortages of essential medicine. You can read more here.

Now let’s break this up further and look at the ‘winners’ and ‘losers’ of the 2023-4 federal budget.

Winners:

Low-Income Renters

If you live in rental accommodation, you might be happy to hear that the maximum rate of the Commonwealth Rent Assistance (CRA) payment will be increasing by 15% from September 20. This could mean a payment boost of up to $23.60 per fortnight (an increase from $157.20 a fortnight to $180.80) for single people with no dependants who are receiving the maximum CRA and do not share their rental home with anyone else.

Veterans

The Federal Budget is also improving services and support for veterans. There will be extra resources to tackle the backlog of support claims, plus increased demand for complex casework, rehabilitation, health approvals and pharmacy services. There will also be an additional $2m spent over two years to continue the Mental Health Literacy and Suicide Intervention Training program to help ex-service personnel.

Welfare Recipients (Some, not all)

For those receiving Centrelink benefits, the base rates of some payments will be rising by $40 per fortnight from September 20. This includes Youth Allowance, JobSeeker, Partnership Parental Payment and Austudy.

Welfare recipients are also eligible for a $500 payment off their energy bills under the Electricity Relief Grant Scheme, including pensioners and seniors health card holders. The government claims more than 5 million households will have up to $500 deducted from their power bills next financial year.

Now, the budget does also contain ‘bad news’ for some Australians. Read on to find out who was left behind in the 2023-4 federal budget.

Losers:

Travellers

Travellers taking off overseas will be hit with a $10 increase in the passenger movement charge, rising from $60 to $70 per passenger from July 1, 2024.

Smokers

The Government is increasing the tobacco excise by 5% a year for the next three years to help curb smoking in Australia.

What are they using this extra money for? The higher-taxed tobacco will pay for anti-vaping campaigns over the next four years.

It’s expected that $63.4m will be allocated to advertising campaigns, while $29.5m will be set aside for support services supporting Australians to quit smoking and vaping.

So there could be less second-hand smoke floating around your local city/shopping centre soon.

Middle-Income Renters

Middle-income renters may be disappointed that there is no immediate relief for them in the budget. The Government's incentives for build-to-rent schemes won't be creating new dwellings in the rental market for a few years.

Scammers

Technically this one is a positive for Australians – but it’s certainly a bad time to be a scammer. The Government will be setting up a $58m National Anti-Scam Centre to tackle the rising number of online scams in Australia. They'll also be introducing a $10.9m SMS Sender ID Registry to combat phoney text messages and allocate $17.6m in funds to identify and take down investment scams.

Overall, this is a $86.5m investment over four years.

Key Takeaways

• The 2023 federal budget focuses on cost-of-living relief, housing, healthcare, and clean energy measures, benefiting specific sectors of society.
• Low-income renters and welfare recipients will receive increased financial support.
• Healthcare funding will expand, increasing bulk-billing incentives for doctors, aged care worker salaries, and improving services for veterans.
• The budget aims to crack down on tobacco and online scammers but offers limited immediate relief for middle-income renters.

Inflation concerns?

The most vocal concerns going into the budget came from economists predicting that the cost of living packages would be inflationary.

So, what’s the verdict?

According to Greg Jericho, The Guardian columnist and policy director at the Centre for Future Work, ‘This is in no way an expansionary budget.’

The bottom line

We’ll see an increase in rent assistance for low-income renters, energy bill relief, an increase in JobSeeker and more bulk-billed GP appointments.

There has already been some opposition to the budget, with Greens leader Adam Bandt stating the budget is ‘a betrayal of renters, jobseekers and people doing it tough’.

Opposition Leader Peter Dutton will give his budget reply speech tonight.

This marks Labor’s first budget surplus in 15 years.

Did you tune into the budget, members? Did the government meet your expectations? Do you feel like the budget is addressing YOUR needs? Or do you feel left behind? Please let us know all of your thoughts and opinions in the comments below!

Thanks Labour. Especially for Medicare help so badly needed
Better budget than I thought it would be

 

[codac]

The 2023-4 Federal Budget has officially been handed down, and while it holds the line on fiscal discipline, there are some exciting announcements that impact Australian seniors.

‘There are many direct benefits that older Australians will receive in their wallets out of this year’s budget,’ confirmed Council on the Ageing Australia CEO Patricia Sparrow.

Without further ado, here’s a breakdown of the 2023 federal budget and how it will impact you.

View attachment 19453

Everything you need to know about the 2023-4 Federal Budget. Image Credit: Shutterstock

Cost of living

Energy bill relief

The highly anticipated $14.6bn cost-of-living package will relieve some pressure on Australians.

‘People are under the pump,’ said Treasurer Jim Chalmers.

Households receiving income support payments, including pensioners, veterans, concession card holders, and recipients of carer’s allowance, will receive hundreds of dollars in energy bill relief.

From July 2023, eligible residents in New South Wales, Queensland, South Australia and Tasmania will receive $500, including $250 each from the federal and state governments;

Meanwhile, Victorians will receive $250 from the federal government after already receiving state government assistance in March.

Those living in the Australian Capital Territory, Western Australia and the Northern Territory will receive a slightly different amount – ‘about $350 from the federal government and $175 from their own governments’. This variation has been put down to the decreased energy pricing volatility.

JobSeeker increase

There is a base increase of $40 a fortnight to all JobSeeker payments.

But the news doesn’t stop there. Australians aged 55-59 will now receive the higher JobSeeker rate previously reserved for those over 60. They will receive an additional $92.10 a fortnight (singles).

Estimates expect some 52,000 Australians will receive this boost. Are you interested in reading more? We wrote about this ‘modest JobSeeker increase’ here.

Rent assistance

The Commonwealth Rent Assistance (CRA) maximum rate is increasing by 15% (up to $31 extra a fortnight) to combat rising rental prices.

The $2.7bn measure is expected to benefit 1.1m households.

New rates will begin from 20 September 2023, pending legislation passing parliament.

Aged Care and Home Care Packages

$11.5bn is being spent on increasing pay for aged care workers by 15%. The focus on recruiting more workers to the field is expected to raise standards of care. This is the largest ever increase for this sector.

For those wishing to remain at home, the Government is committing $166.8m to provide an additional 9,500 home care packages.

The Government will also provide $487m to the Disability Support for Older Australians Program.

Medical

The budget also has some excellent healthcare news, including Medicare rebates for consults longer than 60 minutes, new urgent care clinics with no out-of-pocket fee, accelerated bulk-billing incentives for GPs and increased telehealth services. This $5b Medicare boost came as a welcome surprise on Tuesday night. The move is expected to create millions more bulk-billed GP appointments.

‘This $4.9 billion investment will see more GPs bulk-billing pensioners and healthcare card holders without charging a co-payment,’ said Council on the Ageing Australia CEO Ms Sparrow.

‘So many of my patients will be relieved at the change as for months they have been chasing a bulk billing clinic they can afford, where they can get consistent care from a doctor they have known for years.’ said Dr Tim Woodruff, President, Doctors Reform Society.

There will also be fewer trips to the pharmacy with double the medication dispensed each visit (two months’ supply instead of one) for the same price. You can read our article about this here. It will apply to some 300 medicines currently on the Pharmaceutical Benefits Scheme and is expected to save concession card holders up to $43.80 per year per eligible medicine.

We wrote about this back in April amid concerns from pharmacists that the double prescription change would result in shortages of essential medicine. You can read more here.

Now let’s break this up further and look at the ‘winners’ and ‘losers’ of the 2023-4 federal budget.

Winners:

Low-Income Renters

If you live in rental accommodation, you might be happy to hear that the maximum rate of the Commonwealth Rent Assistance (CRA) payment will be increasing by 15% from September 20. This could mean a payment boost of up to $23.60 per fortnight (an increase from $157.20 a fortnight to $180.80) for single people with no dependants who are receiving the maximum CRA and do not share their rental home with anyone else.

Veterans

The Federal Budget is also improving services and support for veterans. There will be extra resources to tackle the backlog of support claims, plus increased demand for complex casework, rehabilitation, health approvals and pharmacy services. There will also be an additional $2m spent over two years to continue the Mental Health Literacy and Suicide Intervention Training program to help ex-service personnel.

Welfare Recipients (Some, not all)

For those receiving Centrelink benefits, the base rates of some payments will be rising by $40 per fortnight from September 20. This includes Youth Allowance, JobSeeker, Partnership Parental Payment and Austudy.

Welfare recipients are also eligible for a $500 payment off their energy bills under the Electricity Relief Grant Scheme, including pensioners and seniors health card holders. The government claims more than 5 million households will have up to $500 deducted from their power bills next financial year.

Now, the budget does also contain ‘bad news’ for some Australians. Read on to find out who was left behind in the 2023-4 federal budget.

Losers:

Travellers

Travellers taking off overseas will be hit with a $10 increase in the passenger movement charge, rising from $60 to $70 per passenger from July 1, 2024.

Smokers

The Government is increasing the tobacco excise by 5% a year for the next three years to help curb smoking in Australia.

What are they using this extra money for? The higher-taxed tobacco will pay for anti-vaping campaigns over the next four years.

It’s expected that $63.4m will be allocated to advertising campaigns, while $29.5m will be set aside for support services supporting Australians to quit smoking and vaping.

So there could be less second-hand smoke floating around your local city/shopping centre soon.

Middle-Income Renters

Middle-income renters may be disappointed that there is no immediate relief for them in the budget. The Government's incentives for build-to-rent schemes won't be creating new dwellings in the rental market for a few years.

Scammers

Technically this one is a positive for Australians – but it’s certainly a bad time to be a scammer. The Government will be setting up a $58m National Anti-Scam Centre to tackle the rising number of online scams in Australia. They'll also be introducing a $10.9m SMS Sender ID Registry to combat phoney text messages and allocate $17.6m in funds to identify and take down investment scams.

Overall, this is a $86.5m investment over four years.

Key Takeaways

• The 2023 federal budget focuses on cost-of-living relief, housing, healthcare, and clean energy measures, benefiting specific sectors of society.
• Low-income renters and welfare recipients will receive increased financial support.
• Healthcare funding will expand, increasing bulk-billing incentives for doctors, aged care worker salaries, and improving services for veterans.
• The budget aims to crack down on tobacco and online scammers but offers limited immediate relief for middle-income renters.

Inflation concerns?

The most vocal concerns going into the budget came from economists predicting that the cost of living packages would be inflationary.

So, what’s the verdict?

According to Greg Jericho, The Guardian columnist and policy director at the Centre for Future Work, ‘This is in no way an expansionary budget.’

The bottom line

We’ll see an increase in rent assistance for low-income renters, energy bill relief, an increase in JobSeeker and more bulk-billed GP appointments.

There has already been some opposition to the budget, with Greens leader Adam Bandt stating the budget is ‘a betrayal of renters, jobseekers and people doing it tough’.

Opposition Leader Peter Dutton will give his budget reply speech tonight.

This marks Labor’s first budget surplus in 15 years.

Did you tune into the budget, members? Did the government meet your expectations? Do you feel like the budget is addressing YOUR needs? Or do you feel left behind? Please let us know all of your thoughts and opinions in the comments below!

 

[codac]

No mention of the Low income tax relief that has been axed. This will certainly cost some pensioners more than they reciieve.

 

[Januvia1952]

No increase

The 2023-4 Federal Budget has officially been handed down, and while it holds the line on fiscal discipline, there are some exciting announcements that impact Australian seniors.

‘There are many direct benefits that older Australians will receive in their wallets out of this year’s budget,’ confirmed Council on the Ageing Australia CEO Patricia Sparrow.

Without further ado, here’s a breakdown of the 2023 federal budget and how it will impact you.

View attachment 19453

Everything you need to know about the 2023-4 Federal Budget. Image Credit: Shutterstock

Cost of living

Energy bill relief

The highly anticipated $14.6bn cost-of-living package will relieve some pressure on Australians.

‘People are under the pump,’ said Treasurer Jim Chalmers.

Households receiving income support payments, including pensioners, veterans, concession card holders, and recipients of carer’s allowance, will receive hundreds of dollars in energy bill relief.

From July 2023, eligible residents in New South Wales, Queensland, South Australia and Tasmania will receive $500, including $250 each from the federal and state governments;

Meanwhile, Victorians will receive $250 from the federal government after already receiving state government assistance in March.

Those living in the Australian Capital Territory, Western Australia and the Northern Territory will receive a slightly different amount – ‘about $350 from the federal government and $175 from their own governments’. This variation has been put down to the decreased energy pricing volatility.

JobSeeker increase

There is a base increase of $40 a fortnight to all JobSeeker payments.

But the news doesn’t stop there. Australians aged 55-59 will now receive the higher JobSeeker rate previously reserved for those over 60. They will receive an additional $92.10 a fortnight (singles).

Estimates expect some 52,000 Australians will receive this boost. Are you interested in reading more? We wrote about this ‘modest JobSeeker increase’ here.

Rent assistance

The Commonwealth Rent Assistance (CRA) maximum rate is increasing by 15% (up to $31 extra a fortnight) to combat rising rental prices.

The $2.7bn measure is expected to benefit 1.1m households.

New rates will begin from 20 September 2023, pending legislation passing parliament.

Aged Care and Home Care Packages

$11.5bn is being spent on increasing pay for aged care workers by 15%. The focus on recruiting more workers to the field is expected to raise standards of care. This is the largest ever increase for this sector.

For those wishing to remain at home, the Government is committing $166.8m to provide an additional 9,500 home care packages.

The Government will also provide $487m to the Disability Support for Older Australians Program.

Medical

The budget also has some excellent healthcare news, including Medicare rebates for consults longer than 60 minutes, new urgent care clinics with no out-of-pocket fee, accelerated bulk-billing incentives for GPs and increased telehealth services. This $5b Medicare boost came as a welcome surprise on Tuesday night. The move is expected to create millions more bulk-billed GP appointments.

‘This $4.9 billion investment will see more GPs bulk-billing pensioners and healthcare card holders without charging a co-payment,’ said Council on the Ageing Australia CEO Ms Sparrow.

‘So many of my patients will be relieved at the change as for months they have been chasing a bulk billing clinic they can afford, where they can get consistent care from a doctor they have known for years.’ said Dr Tim Woodruff, President, Doctors Reform Society.

There will also be fewer trips to the pharmacy with double the medication dispensed each visit (two months’ supply instead of one) for the same price. You can read our article about this here. It will apply to some 300 medicines currently on the Pharmaceutical Benefits Scheme and is expected to save concession card holders up to $43.80 per year per eligible medicine.

We wrote about this back in April amid concerns from pharmacists that the double prescription change would result in shortages of essential medicine. You can read more here.

Now let’s break this up further and look at the ‘winners’ and ‘losers’ of the 2023-4 federal budget.

Winners:

Low-Income Renters

If you live in rental accommodation, you might be happy to hear that the maximum rate of the Commonwealth Rent Assistance (CRA) payment will be increasing by 15% from September 20. This could mean a payment boost of up to $23.60 per fortnight (an increase from $157.20 a fortnight to $180.80) for single people with no dependants who are receiving the maximum CRA and do not share their rental home with anyone else.

Veterans

The Federal Budget is also improving services and support for veterans. There will be extra resources to tackle the backlog of support claims, plus increased demand for complex casework, rehabilitation, health approvals and pharmacy services. There will also be an additional $2m spent over two years to continue the Mental Health Literacy and Suicide Intervention Training program to help ex-service personnel.

Welfare Recipients (Some, not all)

For those receiving Centrelink benefits, the base rates of some payments will be rising by $40 per fortnight from September 20. This includes Youth Allowance, JobSeeker, Partnership Parental Payment and Austudy.

Welfare recipients are also eligible for a $500 payment off their energy bills under the Electricity Relief Grant Scheme, including pensioners and seniors health card holders. The government claims more than 5 million households will have up to $500 deducted from their power bills next financial year.

Now, the budget does also contain ‘bad news’ for some Australians. Read on to find out who was left behind in the 2023-4 federal budget.

Losers:

Travellers

Travellers taking off overseas will be hit with a $10 increase in the passenger movement charge, rising from $60 to $70 per passenger from July 1, 2024.

Smokers

The Government is increasing the tobacco excise by 5% a year for the next three years to help curb smoking in Australia.

What are they using this extra money for? The higher-taxed tobacco will pay for anti-vaping campaigns over the next four years.

It’s expected that $63.4m will be allocated to advertising campaigns, while $29.5m will be set aside for support services supporting Australians to quit smoking and vaping.

So there could be less second-hand smoke floating around your local city/shopping centre soon.

Middle-Income Renters

Middle-income renters may be disappointed that there is no immediate relief for them in the budget. The Government's incentives for build-to-rent schemes won't be creating new dwellings in the rental market for a few years.

Scammers

Technically this one is a positive for Australians – but it’s certainly a bad time to be a scammer. The Government will be setting up a $58m National Anti-Scam Centre to tackle the rising number of online scams in Australia. They'll also be introducing a $10.9m SMS Sender ID Registry to combat phoney text messages and allocate $17.6m in funds to identify and take down investment scams.

Overall, this is a $86.5m investment over four years.

Key Takeaways

• The 2023 federal budget focuses on cost-of-living relief, housing, healthcare, and clean energy measures, benefiting specific sectors of society.
• Low-income renters and welfare recipients will receive increased financial support.
• Healthcare funding will expand, increasing bulk-billing incentives for doctors, aged care worker salaries, and improving services for veterans.
• The budget aims to crack down on tobacco and online scammers but offers limited immediate relief for middle-income renters.

Inflation concerns?

The most vocal concerns going into the budget came from economists predicting that the cost of living packages would be inflationary.

So, what’s the verdict?

According to Greg Jericho, The Guardian columnist and policy director at the Centre for Future Work, ‘This is in no way an expansionary budget.’

The bottom line

We’ll see an increase in rent assistance for low-income renters, energy bill relief, an increase in JobSeeker and more bulk-billed GP appointments.

There has already been some opposition to the budget, with Greens leader Adam Bandt stating the budget is ‘a betrayal of renters, jobseekers and people doing it tough’.

Opposition Leader Peter Dutton will give his budget reply speech tonight.

This marks Labor’s first budget surplus in 15 years.

Did you tune into the budget, members? Did the government meet your expectations? Do you feel like the budget is addressing YOUR needs? Or do you feel left behind? Please let us know all of your thoughts and opinions in the comments below!

No increase in the pension.

 

[siameezer]

I understand your frustration with rising rent, but bear in mind that a lot of investment properties have loans against them…. When there is a rise in interest rates, the owners of these properties need to also increase the rent to cover costs of the loan, body Corp increases and insurances… and let’s not forget groceries, fuel, etc etc that the owners pay for their day to day living…rental properties are not a gift… without investors… there are no rental properties….

There is NO excuse ... none whatsoever ... for property managers to pressure landlords to increase rents because there has been a rise in rent assistance. A friend of mine has a rental property and her property manager tried to force her to increase her rent a little while ago. She didn't want to as she has great tenants but the property managers told her they would charge her the increased fees even if she left it the same.
I am sorry but investment properties are a risk like every other investment and if you cannot afford some losses along the way then you have the wrong sort of investment for you. Share prices fluctuate if you invest in the stock market and interest rates vary if you invest in property. In the case of the property I have rented for the past 23 years, there is no mortgage ... it is owned by a deceased estate trust based in China.

 

[siameezer]

i am happy for renters but old age pensioners that worker and scrimped went without to buy their house AND STILL PAY MORGAGES SHIRE RATES WATER RATES AND MAINTANCED ON THEIR HOMES GET NOTHING is this fair

Don't be tricked into thinking renters will be better off ... property managers will increase the rent to swallow up all the increase in rent assistance. We won't see a red cent in real terms.

 

[Trudi]

No increase

No increase in the pension.

The reason for this is that pensions are increased on 1 March and 1 September each year.

 

[oilsfromoz]

The reason for this is that pensions are increased on 1 March and 1 September each year.

These increases are supposed to raise the pension to meet the cost of living. The reality is that this never happens because the cost of living is higher at each increase and continues to rise all the time. So pensioners fall behind and the government doesn't give a flying......

 

[Jennylolo]

i am happy for renters but old age pensioners that worker and scrimped went without to buy their house AND STILL PAY MORGAGES SHIRE RATES WATER RATES AND MAINTANCED ON THEIR HOMES GET NOTHING is this fair

totally agree- there were no handouts- rent relief, homeowner start ups. I was 37 before I could get enough for a deposit for a home loan and it was 17%. We never had centre link if unemployed or between jobs. Women didn't generally have super and were often expected if they worked to resign to raise kids and then reenter work. Employers compulsory super has not always been there when we needed when first starting to work. We bought 2nd h/d cars (and as kids paid full fare on public transport at 13 years of age, had sheets at our windows instead of curtains, 2nd h/d furniture, didn't have tvs in every room, a/c and heating and so on. We did do it tough.

But we have always missed out on the support schemes.
I don't begrudge those being supported, but when do we all get supported.

 

[siameezer]

The reason for this is that pensions are increased on 1 March and 1 September each year.

No ... CPI adjustments are made 20 March and 20 September each year. There has been no increase in the actual base rate paid, just CPI adjustments to keep up with inflation rates.

 

[Gsr]

There is NO excuse ... none whatsoever ... for property managers to pressure landlords to increase rents because there has been a rise in rent assistance. A friend of mine has a rental property and her property manager tried to force her to increase her rent a little while ago. She didn't want to as she has great tenants but the property managers told her they would charge her the increased fees even if she left it the same.
I am sorry but investment properties are a risk like every other investment and if you cannot afford some losses along the way then you have the wrong sort of investment for you. Share prices fluctuate if you invest in the stock market and interest rates vary if you invest in property. In the case of the property I have rented for the past 23 years, there is no mortgage ... it is owned by a deceased estate trust based in China.

Well hopefully you don’t get kicked out to make way for the increased number of Chinese immigrants coming to Australia and needing accommodation. Also lots of Chinese students returning to study in Australia, which is ok, but they will all need somewhere to live.

 

[Gsr]

Just a shame that most of these increases in support payments won’t start until September, there will be a lot of people who can’t survive until then. Energy rebates after July, plenty of time for energy companies to increase their prices to gobble up these benefits from their customers. It is a shame the government doesn’t increase the GST on luxury items so the rich can contribute a fairer share to the economy, especially since they are getting tax cuts since the poor diddams can’t afford to live.

 

[siameezer]

Well hopefully you don’t get kicked out to make way for the increased number of Chinese immigrants coming to Australia and needing accommodation. Also lots of Chinese students returning to study in Australia, which is ok, but they will all need somewhere to live.

Now why on earth would that happen? Besides the property manager and owner are too cheap to do any necessary repairs and renovations that would be needed.