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.


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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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What relief for pensioners who are still living below the poverty line? $ 3.10 increase is a insult to all those who worked most of their lives paying trillions in income taxes, for what? for tis thieving Labor government to dip into Australia’s future fund and spend the whole lot on baseless projects like the metro tunnel project and the airport rail project. These younger politicians seem to treat the older generation like poor people and treat us with contempt. For us to survive, we have to cancel our health insurance policy ,and my life insurance policy as well as a few other things.
 
Capital letters do not make that pitiful statement any more true. I have solar and not a bill in over a decade, I don't need an energy rebate, but a few returned tax dollars are welcome anyway.
How many kilowatts is your solar array? Sounds like a pretty big one.
 
They dont set the prices BUT they create the circumstances FOR the rise
So, the price of Singapore Tapas crude oil and the increased cost of coffee and cocoa is the fault of the Australian Government.

How about interest rates? Ever heard that the global economic market controls the cost of goods and services in this country?
 
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The Government isn't giving us all this, the taxpayer is. The Government is the one who has driven our living standards down through mismanagement and lack of housing by bringing in 1.5 million immigrants in the past 3 years. Meanwhile, the poor pensioner doesn't even get enough for a carton on eggs a week
 
Ah, good ol' Labor. Spend like buggery today to stay in favour and power, keep the dumb multitude happy and ignorant and entranced by trivial pursuits, let future governments pick up the pieces.
The old Romans had the right idea. It was called "panem et circenses" (look it up in your Funk and Wagnalls)
All the people, well most, want is the beer and the footy played. To cheer their hero and boo the villains. Give them the big stadiums (Coliseums) and they are happy.
 
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But when is Elbosleazy going to let us know that he intends to tax superannuation a further15%, I have heard he is currently pushing legislation through to facilitate this.
That's labor for ya. Give you with one hand and take with the other. I've actually wondered about that Super deal with govt for many years now. I just can't see any of our governments allowing people to become rich on retirement.
 
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What happened to the $375 energy reief promised last elections and went up in smoke?
Plus others
Too little too late
Time for change. I am all for renewables including current government
Wow, at last, someone who remembers a failed promise from the last election. We need more, much more, people like Tonia to never forget. I also remember Bob Hawke blabbing about no Australian child will live in poverty blah blabb blah as an election promise.
 
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Reactions: Sherril54
There is nothing in this Budget for a pensioner. Again. I still can't understand why the rich get the electricity allowance and it's half of what we got this year even though the cost of power is increasing. Childcare subsidy for people earning less than $530k a year? Why would a family earning $529k a year need help???? It's like the Govetnment have forgotten that we pensioners paid taxes all of our lives so that we could have a decent, respectful retirement. No, they look at it like we're on the dole and don't deserve any form of increase to make our lives a little easier. I'm interested to see what the Coalition come up with, but not holding my breath. Prnsioners are now the forgotten generation.
I was going to say the same thing. If a family is earning $500 grand a year they are living the high life. Just shows how out of touch our politicians are with reality. Help for the rich but nothing for the poor.
 
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As of the 2021 Census, 122,494 people were homeless in Australia. How can the number increase by over 2000% in just four years?

Just 2922 visas granted to Gazans in 2023-24. Syrian data is difficult to obtain but only 161 Syrians were granted citizenship during 2023-24. Far cry from your "millions".

I don't know where you get your figures from but try something verifiable. By delving further into the following links, you can find REAL data, not the result of someone's imagination.


Exactly!
 
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Reactions: Veggiepatch
Tell me what was good about Johnny, he took the country into a war that was based on lies!
They were the best years I had as a builder. We need more leaders like him rather than Gough Witless, Clockwork Keating, Piss Head Hawke and all of the other clowns labor has used as a PM, including Analbanese.
 

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