Aussie government announces changes to the federal budget! How can seniors benefit from it?

The cost of living continues to be a contentious topic across the nation.

However, good news is on the horizon as the Australian government unveiled massive updates on the latest federal budget.


This multi-billion dollar relief package could ease the financial burden on Australians and stimulate the economy.

Here are some of the key points of the budget to help seniors understand how they can benefit from the new measures.

Healthcare: A boost for bulk-billing and cheaper medicines

Healthcare is a critical concern for many, especially for seniors who rely on regular GP visits.

The government announced an $8.5 billion boost for Medicare and aimed to deliver 18 million extra bulk-billed GP visits each year.


compressed-Australian Dollars.jpeg
These relief plans from the federal government may help Australians navigate the cost of living crisis. Image Credit: Freepik/K Studio


This expansion of bulk billing should save Australians a combined $859 million a year by 2030.

Starting 1 January 2026, the cost of the majority of medicines on the Pharmaceutical Benefits Scheme (PBS) could be reduced from $31.60 to $25.

This measure could save Australians $200 million a year.

Both policies have bipartisan support, ensuring its implementation regardless of the election outcome.


Energy bill relief: Keeping the lights on for less

With electricity bills set to rise by up to nine per cent starting July, the government has pledged further relief.

The government promised to reduce household bills thanks to a $150 relief from their power bill.

This initiative was on top of last year's $3.5 billion energy bill relief package.

The government aimed to alleviate the strain on family budgets by putting downward pressure on inflation.

The extension of energy bill rebates could cost taxpayers $1.8 billion over the forward estimates.

Support for Australian-made goods amidst global tariff tensions

In response to the global economic uncertainty and the impact of United States-imposed tariffs on Australian exports, the government signalled its support for local industries.

Prime Minister Albanese indicated that the budget would include additional support for the 'Buy Australian' campaign, as well as a 'spiced-up Made in Australia' plan that could bolster local manufacturers and counteract the potential influx of cheap international products.


Budget deficit and economic outlook

After two consecutive years of surpluses, the budget is set to return to a deficit in 2025.

The deficit is forecasted to be around $26.9 billion—a figure close to the one projected in December's Mid-year Economic and Fiscal Outlook (MYEFO).

The government has been taking a cautious approach to revenue and expenditure, with the Treasury not expecting significant changes from the MYEFO projections.

Education: A significant discount on student debt

The federal budget could bring welcome relief to the roughly three million Australians grappling with student debt.

Outstanding balances will be reduced by 20 per cent on 1 June, representing a $16 billion reduction in student debt.

This one-off discount could provide financial reprieve for former students.

This change in student debt was part of the government's election promises.


Childcare: Subsidies for families

Another election promise set to be fulfilled was the provision of three days a week of subsidised childcare for families.

This promise could apply to households with a combined income of less than $530,000 a year.

The activity test will be scrapped, making it easier for low-income parents to access affordable childcare.

This policy, recommended by the Productivity Commission, could cost $427 million over five years and is slated to begin on 1 January 2026.

Here are other changes that the federal budget may bring:
Other inclusions in the 2025 Federal budget.jpg
Source: 9news.com.au​

As Aussies go through the changes in the federal budget, it's crucial to stay informed about how these changes could impact seniors' lives.

Some of these measures could mean more money in seniors' pockets, while others mean greater access to essential services.
Key Takeaways

  • The Federal Budget is set to deliver cost-of-living relief with measures like a bulk-billing boost and cheaper PBS medicines.
  • Substantial energy bill relief is also part of the plan, with an extension of rebates and promises to counteract rising electricity costs.
  • Support for Australian-made products will be strengthened in response to international tariff challenges.
  • The budget will return to deficit but includes significant investments such as a student debt discount and subsidised childcare, among others.
What are your thoughts on the latest budget announcements? Can these measures provide the necessary relief for your household? Share your opinions and experiences in the comments below. Let's continue the conversation about government services and welfare in these challenging times.
 

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All makes me think on the quote of a UK author - “Socialists are just Communists in a hurry”😂🤣
That’s why I don’t vote for Labour!!
Why do we have to pay for ‘early childhood learning’ - seriously, if you have children & can’t look after them @ 3 yrs onwards, then don’t have them! You really want the State to teach your children from that age?
They’re already ‘brainwashing our children with some of the rubbish you hear coming out of schools!!!
Here in my state, my granddaughter told me they provide cat litter trays in toilets at school for the peeps who identify as cats 🐈‍⬛!! One at the school identifies as a dinosaur - God only knows what concession that required!!!!!!! I rest my case, I cannot believe what is being allowed in the institutions our kids are in! And if you don’t look into WHAT your kids are being exposed to in school, then to me that equates to child abuse!
A big deal has been made out of the meals etc served up in childcare centres this week! Does it really surprise us??? Oh shock, horror - you put ur most precious possession in a place & seriously expect that some stranger is going to give a toss about them like you do? How naive have we all become! And what ever the COL is, don’t leave the bringing up of ur children to others & expect the rest of us taxpayers to pay for it??? Sorry not interested! If you HAVE to put kids in childcare because you can’t afford the lifestyle YOU have chosen then something has to give & it shouldn’t be the upbringing & safety of your children! I know some won’t agree & that’s fine but when I see us giving over our kids into these institutions these days & what the state is sanctioning them being exposed to it makes me shudder!!😱
 
The way Albanese splashes around MILLIONS here & BILLIONS there, yet pensioners only get $3.50 a fortnight?

What an insult to the elderly who have worked hard all their life & paid their taxes, to make Australia what it is today.

Labor need to be flushed down the toilet!!

They definitely won’t be getting my vote😡🤬🤬🤬
The opposition will not make your life any easier!
 
How do you know who was sitting in the pubs doing nothing, did you know them or did you draw your own conclusions ?
Sure did draw my own conclusions, just like you do by saying labor is the best government for Australia.
But sure.....I know bludgers when I see them. And being in the building industry and as foreman on many sites I had my share of "work for the dole boys, girls" and union lackeys.
 
Yes you have been affected haven`t you!
Yep. I've seen family men who were valued by us as great productive workers told not to come back tomorrow because they were not financial in a union.
Great stuff when bastards like Mundey and Gallagher tell good men what they should or shouldn't do, eh Sherril54? No wonder we gave the Communist Party and the BLF the arse.
 
Sure did draw my own conclusions, just like you do by saying labor is the best government for Australia.
But sure.....I know bludgers when I see them. And being in the building industry and as foreman on many sites I had my share of "work for the dole boys, girls" and union lackeys.
I did not say Labour was the best Government, but yes I do support Labour in many ways, what I did say is that I would rather EAT A BOWL OF POISON than vote for Peter Dutton and his usless LNP party pack of liars they will send the most vulnerble down the drain and look after the big side of town. Once again I say you must be clairvoyant!
 
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Then you are lefty enough for me to be clairvoyant enough.
As for Dutton, name me someone you would rather see in the top seat?
And why do you say Dutton lies?
 
Yep. I've seen family men who were valued by us as great productive workers told not to come back tomorrow because they were not financial in a union.
Great stuff when bastards like Mundey and Gallagher tell good men what they should or shouldn't do, eh Sherril54? No wonder we gave the Communist Party and the BLF the arse.
OK. WOMBAT 2U2004 This experience seems to have left you bitter and twisted. I have a son-in-law and a step-son who are both in the building industry neither belong to a union which worries me a lot, but that is their business, Just like my own opinion is!
 
Then you are lefty enough for me to be clairvoyant enough.
As for Dutton, name me someone you would rather see in the top seat?
And why do you say Dutton lies?
I think I`am a lefty because I think everyone should have fair go, so you must be clairvoyant.. Not Dutton in the top seat. Dutton`s quote: White lies are often the cost of beating the bad guys. “In a different age, we’d be clashing swords,” Dutton told journalist Madonna King in 2014. “I see myself as a contestant in that battle.”
 
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I think I`am a lefty because I think everyone should have fair go, so you must be clairvoyant.. Not Dutton in the top seat. Dutton`s quote: White lies are often the cost of beating the bad guys. “In a different age, we’d be clashing swords,” Dutton told journalist Madonna King in 2014. “I see myself as a contestant in that battle.”
Yes, I agree that everyone should have a fair go. And I believe Dutton should be given a fair go after being shafted by Turnbull. Just think of Turnbull and Morrison.....and what they both did to this country. I believe Dutton could have done better, but he was pushed out by petty differences. Turnbull didn't want Dutton to have the seat because he believed that Dutton was behind his removal. Maybe we should have just stuck with Tony Abbott.
 
Yes, I agree that everyone should have a fair go. And I believe Dutton should be given a fair go after being shafted by Turnbull. Just think of Turnbull and Morrison.....and what they both did to this country. I believe Dutton could have done better, but he was pushed out by petty differences. Turnbull didn't want Dutton to have the seat because he believed that Dutton was behind his removal. Maybe we should have just stuck with Tony Abbott.
I wish I had your faith in Mr Dutton, and if he does get in he does the right thing.
 
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OK. WOMBAT 2U2004 This experience seems to have left you bitter and twisted. I have a son-in-law and a step-son who are both in the building industry neither belong to a union which worries me a lot, but that is their business, Just like my own opinion is!
No need to worry. They are both better off now than ever being in a union.
I know, I've lived thru the days when the corrupt communist-inspired unions had a grip on the working man. I had some in-depth talks with my first cousin John Harrison....a notorious union man who was in the Marrickville Council. He told me nothing was off the table concerning union power, even had people targeted. Read the Baldwin Affair circa 1980's. I was very good friends with John and his wife Bev.......but I didn't think much of his union involvement, but I had a good education from him about what unions are all about, and the gangster tactics and corruption they were most famous for.
Read on....................
 

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