The rising cost of living coupled with growing energy bills may have everyone worried, but there is some good news on the horizon.

According to the latest announcement from the federal government, five million households and one million businesses could potentially receive up to $500 relief on their power bills through a $1.5 billion package included in the federal budget.

This means pensioners, small businesses, and people on government payments will be eligible for the subsidy. However, the amount they receive will depend on where they live.

The Albanese government has had to negotiate eight energy agreements with state and territory governments, so the size of the assistance could vary depending on the government in power and the current cost of living pressures in your part of the country.

Separately, the treasurer also announced that the budget would contain changes to the gas industry’s profit tax.

Some struggling to pay for energy costs will receive a subsidy by the government. Credit: Myicahel Tamburini/Pexels

Mr Chalmers shared: ‘People will be getting several hundred dollars if they're on pensions and payments, or a small business, but depending on where you live, depending on what the price pressures are, depending on how much the states and territories are prepared to kick in because this is a co-investment with them.’

Shadow Treasurer Angus Taylor also mentioned that the test for the budget would be whether it could help alleviate pressures from inflation.

He said: ‘Everyone is being hurt by inflation — the whole lot of us...and so if you want to help all Australians, all vulnerable Australians, not just the ones you can identify and the ones you are picking out if you want to help all vulnerable Australians you've got to get the inflation under control.’

Mr Chalmers agreed and told reporters that the budget had been recalibrated and designed to ‘take pressure off the cost of living, rather than add to it’.

The treasurer also said that the budget would offer relief to vulnerable Australians ‘doing it tough’.

The treasurer said that this assistance will be offered to vulnerable people across the country. Credit: Rodolfo Clix/Pexels

‘And central to that, probably the centrepiece of the budget will be a cost-of-living package which is broader than what has been speculated on, which prioritises the most vulnerable people and which applies to more than one age cohort,’ he told reporters.

He continued: ‘We’ve already announced cheaper medicines, cheaper early childhood education, help with energy bills, and there’ll be other elements to it as well.’

‘If there’s an opportunity to do better there, we will,’ he explained.

Treasurer Chalmers mentioned in his interview that a $2.4 billion increase in the Petroleum Resource Rent Tax (PRRT) could be seen over the next four years. These changes will follow months of negotiation with oil and gas companies starting July 1.

According to the treasurer, rather than allowing companies to fully deduct their project costs against income (which is what’s happening now), the deductions will be capped at 90 per cent.

‘Australians will get a fairer return on their resources sooner, and what this change means is about $2.4 billion in the forward estimates, which the gas companies wouldn't be paying, the offshore LNG projects wouldn't be paying, were it not for this change,’ Mr Chalmers told reporters.

What this entails is that more tax would come from these projects, and that means it could fund the government’s cost-of-living package and other priorities in the federal budget.

The PRRT was first introduced in the 1980s and has since been generating an average of $2 billion each year. However, it has long been criticised for providing ‘insufficient return’ to the country.

The leading lobby group for the industry, the Australian Petroleum Production & Exploration Association (APPEA), is believed to have supported the PRRT changes. They said they aimed to ‘get the balance right between the undeniable need for a strong gas sector’ that could support reliable electricity and domestic manufacturing for ‘decades to come’.

The group also said there was a need for sustainability in the national budget.

APPEA Chief Executive Samantha McCulloch told reporters: ‘PRRT revenues are already at their highest level ever, forecast to deliver revenue of more than $11 billion over the forward estimates.’

She also said that a ‘bipartisan approach’ was needed to provide investment certainty and called on the government to work ‘constructively and cooperatively’ with the opposition.

Mr Chalmers stated that the whole parliament should support the changes.

‘My message to the Greens in the Senate is if they vote against this, they're voting for lower taxes from these projects,’ he said.

The budget will also make room for increased funding for government and community services, including mental health, disability, domestic violence and homelessness services, the Medicare Benefits Schedule and community nursing.

This report comes after it was announced that the price relief would be applied directly to power bills as credits instead of cash handouts. This would be available to people who are on income support or pensions, recipients of the family tax benefit, and small businesses. You can read more details about this here.

Key Takeaways

• Five million households and one million businesses will receive up to $500 relief on their power bills under a $1.5 billion package in the federal budget.
• Treasurer Jim Chalmers confirmed a $2.4 billion increase in Petroleum Resource Rent Tax over the next four years.
• The budget will also increase indexation for funding for government and community services, including mental health, disability, domestic violence and homelessness services, the Medicare Benefits Schedule and community nursing.

How do you make sure you save on your power bills? Are you looking forward to this bill relief? We’d love to hear from you in the comments below!

 

[joan shirley]

The rising cost of living coupled with growing energy bills may have everyone worried, but there is some good news on the horizon.

According to the latest announcement from the federal government, five million households and one million businesses could potentially receive up to $500 relief on their power bills through a $1.5 billion package included in the federal budget.

This means pensioners, small businesses, and people on government payments will be eligible for the subsidy. However, the amount they receive will depend on where they live.

The Albanese government has had to negotiate eight energy agreements with state and territory governments, so the size of the assistance could vary depending on the government in power and the current cost of living pressures in your part of the country.

Separately, the treasurer also announced that the budget would contain changes to the gas industry’s profit tax.

View attachment 19248

Some struggling to pay for energy costs will receive a subsidy by the government. Credit: Myicahel Tamburini/Pexels

Mr Chalmers shared: ‘People will be getting several hundred dollars if they're on pensions and payments, or a small business, but depending on where you live, depending on what the price pressures are, depending on how much the states and territories are prepared to kick in because this is a co-investment with them.’

Shadow Treasurer Angus Taylor also mentioned that the test for the budget would be whether it could help alleviate pressures from inflation.

He said: ‘Everyone is being hurt by inflation — the whole lot of us...and so if you want to help all Australians, all vulnerable Australians, not just the ones you can identify and the ones you are picking out if you want to help all vulnerable Australians you've got to get the inflation under control.’

Mr Chalmers agreed and told reporters that the budget had been recalibrated and designed to ‘take pressure off the cost of living, rather than add to it’.

The treasurer also said that the budget would offer relief to vulnerable Australians ‘doing it tough’.

View attachment 19249

The treasurer said that this assistance will be offered to vulnerable people across the country. Credit: Rodolfo Clix/Pexels

‘And central to that, probably the centrepiece of the budget will be a cost-of-living package which is broader than what has been speculated on, which prioritises the most vulnerable people and which applies to more than one age cohort,’ he told reporters.

He continued: ‘We’ve already announced cheaper medicines, cheaper early childhood education, help with energy bills, and there’ll be other elements to it as well.’

‘If there’s an opportunity to do better there, we will,’ he explained.

Treasurer Chalmers mentioned in his interview that a $2.4 billion increase in the Petroleum Resource Rent Tax (PRRT) could be seen over the next four years. These changes will follow months of negotiation with oil and gas companies starting July 1.

According to the treasurer, rather than allowing companies to fully deduct their project costs against income (which is what’s happening now), the deductions will be capped at 90 per cent.

‘Australians will get a fairer return on their resources sooner, and what this change means is about $2.4 billion in the forward estimates, which the gas companies wouldn't be paying, the offshore LNG projects wouldn't be paying, were it not for this change,’ Mr Chalmers told reporters.

What this entails is that more tax would come from these projects, and that means it could fund the government’s cost-of-living package and other priorities in the federal budget.

The PRRT was first introduced in the 1980s and has since been generating an average of $2 billion each year. However, it has long been criticised for providing ‘insufficient return’ to the country.

The leading lobby group for the industry, the Australian Petroleum Production & Exploration Association (APPEA), is believed to have supported the PRRT changes. They said they aimed to ‘get the balance right between the undeniable need for a strong gas sector’ that could support reliable electricity and domestic manufacturing for ‘decades to come’.

The group also said there was a need for sustainability in the national budget.

APPEA Chief Executive Samantha McCulloch told reporters: ‘PRRT revenues are already at their highest level ever, forecast to deliver revenue of more than $11 billion over the forward estimates.’

She also said that a ‘bipartisan approach’ was needed to provide investment certainty and called on the government to work ‘constructively and cooperatively’ with the opposition.

Mr Chalmers stated that the whole parliament should support the changes.

‘My message to the Greens in the Senate is if they vote against this, they're voting for lower taxes from these projects,’ he said.

The budget will also make room for increased funding for government and community services, including mental health, disability, domestic violence and homelessness services, the Medicare Benefits Schedule and community nursing.

This report comes after it was announced that the price relief would be applied directly to power bills as credits instead of cash handouts. This would be available to people who are on income support or pensions, recipients of the family tax benefit, and small businesses. You can read more details about this here.

Key Takeaways

• Five million households and one million businesses will receive up to $500 relief on their power bills under a $1.5 billion package in the federal budget.
• Treasurer Jim Chalmers confirmed a $2.4 billion increase in Petroleum Resource Rent Tax over the next four years.
• The budget will also increase indexation for funding for government and community services, including mental health, disability, domestic violence and homelessness services, the Medicare Benefits Schedule and community nursing.

How do you make sure you save on your power bills? Are you looking forward to this bill relief? We’d love to hear from you in the comments below!

IT would be a great help for many people in Queensland, I myself would apprecviate any help as my partner has dementia and is in Tri Care and I have no help to pay the large amounts for Ergon Energy and other household things like food water and petrol Joan Lockwood

 

[StarTrekker]

I always pay my utilities fortnightly. Less of a shock when the bills come in and pleasure to see them in credit.

 

[Bianca]

The rising cost of living coupled with growing energy bills may have everyone worried, but there is some good news on the horizon.

According to the latest announcement from the federal government, five million households and one million businesses could potentially receive up to $500 relief on their power bills through a $1.5 billion package included in the federal budget.

This means pensioners, small businesses, and people on government payments will be eligible for the subsidy. However, the amount they receive will depend on where they live.

The Albanese government has had to negotiate eight energy agreements with state and territory governments, so the size of the assistance could vary depending on the government in power and the current cost of living pressures in your part of the country.

Separately, the treasurer also announced that the budget would contain changes to the gas industry’s profit tax.

View attachment 19248

Some struggling to pay for energy costs will receive a subsidy by the government. Credit: Myicahel Tamburini/Pexels

Mr Chalmers shared: ‘People will be getting several hundred dollars if they're on pensions and payments, or a small business, but depending on where you live, depending on what the price pressures are, depending on how much the states and territories are prepared to kick in because this is a co-investment with them.’

Shadow Treasurer Angus Taylor also mentioned that the test for the budget would be whether it could help alleviate pressures from inflation.

He said: ‘Everyone is being hurt by inflation — the whole lot of us...and so if you want to help all Australians, all vulnerable Australians, not just the ones you can identify and the ones you are picking out if you want to help all vulnerable Australians you've got to get the inflation under control.’

Mr Chalmers agreed and told reporters that the budget had been recalibrated and designed to ‘take pressure off the cost of living, rather than add to it’.

The treasurer also said that the budget would offer relief to vulnerable Australians ‘doing it tough’.

View attachment 19249

The treasurer said that this assistance will be offered to vulnerable people across the country. Credit: Rodolfo Clix/Pexels

‘And central to that, probably the centrepiece of the budget will be a cost-of-living package which is broader than what has been speculated on, which prioritises the most vulnerable people and which applies to more than one age cohort,’ he told reporters.

He continued: ‘We’ve already announced cheaper medicines, cheaper early childhood education, help with energy bills, and there’ll be other elements to it as well.’

‘If there’s an opportunity to do better there, we will,’ he explained.

Treasurer Chalmers mentioned in his interview that a $2.4 billion increase in the Petroleum Resource Rent Tax (PRRT) could be seen over the next four years. These changes will follow months of negotiation with oil and gas companies starting July 1.

According to the treasurer, rather than allowing companies to fully deduct their project costs against income (which is what’s happening now), the deductions will be capped at 90 per cent.

‘Australians will get a fairer return on their resources sooner, and what this change means is about $2.4 billion in the forward estimates, which the gas companies wouldn't be paying, the offshore LNG projects wouldn't be paying, were it not for this change,’ Mr Chalmers told reporters.

What this entails is that more tax would come from these projects, and that means it could fund the government’s cost-of-living package and other priorities in the federal budget.

The PRRT was first introduced in the 1980s and has since been generating an average of $2 billion each year. However, it has long been criticised for providing ‘insufficient return’ to the country.

The leading lobby group for the industry, the Australian Petroleum Production & Exploration Association (APPEA), is believed to have supported the PRRT changes. They said they aimed to ‘get the balance right between the undeniable need for a strong gas sector’ that could support reliable electricity and domestic manufacturing for ‘decades to come’.

The group also said there was a need for sustainability in the national budget.

APPEA Chief Executive Samantha McCulloch told reporters: ‘PRRT revenues are already at their highest level ever, forecast to deliver revenue of more than $11 billion over the forward estimates.’

She also said that a ‘bipartisan approach’ was needed to provide investment certainty and called on the government to work ‘constructively and cooperatively’ with the opposition.

Mr Chalmers stated that the whole parliament should support the changes.

‘My message to the Greens in the Senate is if they vote against this, they're voting for lower taxes from these projects,’ he said.

The budget will also make room for increased funding for government and community services, including mental health, disability, domestic violence and homelessness services, the Medicare Benefits Schedule and community nursing.

This report comes after it was announced that the price relief would be applied directly to power bills as credits instead of cash handouts. This would be available to people who are on income support or pensions, recipients of the family tax benefit, and small businesses. You can read more details about this here.

Key Takeaways

• Five million households and one million businesses will receive up to $500 relief on their power bills under a $1.5 billion package in the federal budget.
• Treasurer Jim Chalmers confirmed a $2.4 billion increase in Petroleum Resource Rent Tax over the next four years.
• The budget will also increase indexation for funding for government and community services, including mental health, disability, domestic violence and homelessness services, the Medicare Benefits Schedule and community nursing.

How do you make sure you save on your power bills? Are you looking forward to this bill relief? We’d love to hear from you in the comments below!

Not exciting, every year in WA we get this -McGowan the Premier is trying to keep everyone quiet over the massive $$made here from the resource companies.

 

[Budbees]

The rising cost of living coupled with growing energy bills may have everyone worried, but there is some good news on the horizon.

According to the latest announcement from the federal government, five million households and one million businesses could potentially receive up to $500 relief on their power bills through a $1.5 billion package included in the federal budget.

This means pensioners, small businesses, and people on government payments will be eligible for the subsidy. However, the amount they receive will depend on where they live.

The Albanese government has had to negotiate eight energy agreements with state and territory governments, so the size of the assistance could vary depending on the government in power and the current cost of living pressures in your part of the country.

Separately, the treasurer also announced that the budget would contain changes to the gas industry’s profit tax.

View attachment 19248

Some struggling to pay for energy costs will receive a subsidy by the government. Credit: Myicahel Tamburini/Pexels

Mr Chalmers shared: ‘People will be getting several hundred dollars if they're on pensions and payments, or a small business, but depending on where you live, depending on what the price pressures are, depending on how much the states and territories are prepared to kick in because this is a co-investment with them.’

Shadow Treasurer Angus Taylor also mentioned that the test for the budget would be whether it could help alleviate pressures from inflation.

He said: ‘Everyone is being hurt by inflation — the whole lot of us...and so if you want to help all Australians, all vulnerable Australians, not just the ones you can identify and the ones you are picking out if you want to help all vulnerable Australians you've got to get the inflation under control.’

Mr Chalmers agreed and told reporters that the budget had been recalibrated and designed to ‘take pressure off the cost of living, rather than add to it’.

The treasurer also said that the budget would offer relief to vulnerable Australians ‘doing it tough’.

View attachment 19249

The treasurer said that this assistance will be offered to vulnerable people across the country. Credit: Rodolfo Clix/Pexels

‘And central to that, probably the centrepiece of the budget will be a cost-of-living package which is broader than what has been speculated on, which prioritises the most vulnerable people and which applies to more than one age cohort,’ he told reporters.

He continued: ‘We’ve already announced cheaper medicines, cheaper early childhood education, help with energy bills, and there’ll be other elements to it as well.’

‘If there’s an opportunity to do better there, we will,’ he explained.

Treasurer Chalmers mentioned in his interview that a $2.4 billion increase in the Petroleum Resource Rent Tax (PRRT) could be seen over the next four years. These changes will follow months of negotiation with oil and gas companies starting July 1.

According to the treasurer, rather than allowing companies to fully deduct their project costs against income (which is what’s happening now), the deductions will be capped at 90 per cent.

‘Australians will get a fairer return on their resources sooner, and what this change means is about $2.4 billion in the forward estimates, which the gas companies wouldn't be paying, the offshore LNG projects wouldn't be paying, were it not for this change,’ Mr Chalmers told reporters.

What this entails is that more tax would come from these projects, and that means it could fund the government’s cost-of-living package and other priorities in the federal budget.

The PRRT was first introduced in the 1980s and has since been generating an average of $2 billion each year. However, it has long been criticised for providing ‘insufficient return’ to the country.

The leading lobby group for the industry, the Australian Petroleum Production & Exploration Association (APPEA), is believed to have supported the PRRT changes. They said they aimed to ‘get the balance right between the undeniable need for a strong gas sector’ that could support reliable electricity and domestic manufacturing for ‘decades to come’.

The group also said there was a need for sustainability in the national budget.

APPEA Chief Executive Samantha McCulloch told reporters: ‘PRRT revenues are already at their highest level ever, forecast to deliver revenue of more than $11 billion over the forward estimates.’

She also said that a ‘bipartisan approach’ was needed to provide investment certainty and called on the government to work ‘constructively and cooperatively’ with the opposition.

Mr Chalmers stated that the whole parliament should support the changes.

‘My message to the Greens in the Senate is if they vote against this, they're voting for lower taxes from these projects,’ he said.

The budget will also make room for increased funding for government and community services, including mental health, disability, domestic violence and homelessness services, the Medicare Benefits Schedule and community nursing.

This report comes after it was announced that the price relief would be applied directly to power bills as credits instead of cash handouts. This would be available to people who are on income support or pensions, recipients of the family tax benefit, and small businesses. You can read more details about this here.

Key Takeaways

• Five million households and one million businesses will receive up to $500 relief on their power bills under a $1.5 billion package in the federal budget.
• Treasurer Jim Chalmers confirmed a $2.4 billion increase in Petroleum Resource Rent Tax over the next four years.
• The budget will also increase indexation for funding for government and community services, including mental health, disability, domestic violence and homelessness services, the Medicare Benefits Schedule and community nursing.

How do you make sure you save on your power bills? Are you looking forward to this bill relief? We’d love to hear from you in the comments below!

It would be good if the relief payment was a regular one not just a one of.

 

[Bianca]

It would be good if the relief payment was a regular one not just a one of.

For sure, may have more faith in the man if he showed his hand occasionally.

 

[Alan1947]

The rising cost of living coupled with growing energy bills may have everyone worried, but there is some good news on the horizon.

According to the latest announcement from the federal government, five million households and one million businesses could potentially receive up to $500 relief on their power bills through a $1.5 billion package included in the federal budget.

This means pensioners, small businesses, and people on government payments will be eligible for the subsidy. However, the amount they receive will depend on where they live.

The Albanese government has had to negotiate eight energy agreements with state and territory governments, so the size of the assistance could vary depending on the government in power and the current cost of living pressures in your part of the country.

Separately, the treasurer also announced that the budget would contain changes to the gas industry’s profit tax.

View attachment 19248

Some struggling to pay for energy costs will receive a subsidy by the government. Credit: Myicahel Tamburini/Pexels

Mr Chalmers shared: ‘People will be getting several hundred dollars if they're on pensions and payments, or a small business, but depending on where you live, depending on what the price pressures are, depending on how much the states and territories are prepared to kick in because this is a co-investment with them.’

Shadow Treasurer Angus Taylor also mentioned that the test for the budget would be whether it could help alleviate pressures from inflation.

He said: ‘Everyone is being hurt by inflation — the whole lot of us...and so if you want to help all Australians, all vulnerable Australians, not just the ones you can identify and the ones you are picking out if you want to help all vulnerable Australians you've got to get the inflation under control.’

Mr Chalmers agreed and told reporters that the budget had been recalibrated and designed to ‘take pressure off the cost of living, rather than add to it’.

The treasurer also said that the budget would offer relief to vulnerable Australians ‘doing it tough’.

View attachment 19249

The treasurer said that this assistance will be offered to vulnerable people across the country. Credit: Rodolfo Clix/Pexels

‘And central to that, probably the centrepiece of the budget will be a cost-of-living package which is broader than what has been speculated on, which prioritises the most vulnerable people and which applies to more than one age cohort,’ he told reporters.

He continued: ‘We’ve already announced cheaper medicines, cheaper early childhood education, help with energy bills, and there’ll be other elements to it as well.’

‘If there’s an opportunity to do better there, we will,’ he explained.

Treasurer Chalmers mentioned in his interview that a $2.4 billion increase in the Petroleum Resource Rent Tax (PRRT) could be seen over the next four years. These changes will follow months of negotiation with oil and gas companies starting July 1.

According to the treasurer, rather than allowing companies to fully deduct their project costs against income (which is what’s happening now), the deductions will be capped at 90 per cent.

‘Australians will get a fairer return on their resources sooner, and what this change means is about $2.4 billion in the forward estimates, which the gas companies wouldn't be paying, the offshore LNG projects wouldn't be paying, were it not for this change,’ Mr Chalmers told reporters.

What this entails is that more tax would come from these projects, and that means it could fund the government’s cost-of-living package and other priorities in the federal budget.

The PRRT was first introduced in the 1980s and has since been generating an average of $2 billion each year. However, it has long been criticised for providing ‘insufficient return’ to the country.

The leading lobby group for the industry, the Australian Petroleum Production & Exploration Association (APPEA), is believed to have supported the PRRT changes. They said they aimed to ‘get the balance right between the undeniable need for a strong gas sector’ that could support reliable electricity and domestic manufacturing for ‘decades to come’.

The group also said there was a need for sustainability in the national budget.

APPEA Chief Executive Samantha McCulloch told reporters: ‘PRRT revenues are already at their highest level ever, forecast to deliver revenue of more than $11 billion over the forward estimates.’

She also said that a ‘bipartisan approach’ was needed to provide investment certainty and called on the government to work ‘constructively and cooperatively’ with the opposition.

Mr Chalmers stated that the whole parliament should support the changes.

‘My message to the Greens in the Senate is if they vote against this, they're voting for lower taxes from these projects,’ he said.

The budget will also make room for increased funding for government and community services, including mental health, disability, domestic violence and homelessness services, the Medicare Benefits Schedule and community nursing.

This report comes after it was announced that the price relief would be applied directly to power bills as credits instead of cash handouts. This would be available to people who are on income support or pensions, recipients of the family tax benefit, and small businesses. You can read more details about this here.

Key Takeaways

• Five million households and one million businesses will receive up to $500 relief on their power bills under a $1.5 billion package in the federal budget.
• Treasurer Jim Chalmers confirmed a $2.4 billion increase in Petroleum Resource Rent Tax over the next four years.
• The budget will also increase indexation for funding for government and community services, including mental health, disability, domestic violence and homelessness services, the Medicare Benefits Schedule and community nursing.

How do you make sure you save on your power bills? Are you looking forward to this bill relief? We’d love to hear from you in the comments below!

We already get a rebate in queensland so I guess we won’t get the full $500. But any additional rebate is most welcome

 

[Alan1947]

In queensland we already get a slight rebate, which is good, but I don’t think we will get the full federal rebate of $500. But any additional rebate will be great

 

[felixcb]

We already get a rebate in queensland so I guess we won’t get the full $500. But any additional rebate is most welcome

Thesefederal Gov one off rebates are separate from the current pension discount. So should receive full rebate

 

[Leodalion63]

I pay my bills every fortnight, I am always in front. When I get too much in front I can go on-line to speak to them and get some refund. I do keep in contact with my providers to make sure I'm in front. Less anxiety that way for me. Always helpful. Great customer service.

 

[Sandy36]

The last payment relief package we received for Electricity, Synergy politely took lot the in one hit and told us it was because our metered readings were only estimates for times before, I imagine the same will happen again, we have solar panels and there is only the two us , so I just don’t see how we’re never in credits

 

[Jest]

The rising cost of living coupled with growing energy bills may have everyone worried, but there is some good news on the horizon.

According to the latest announcement from the federal government, five million households and one million businesses could potentially receive up to $500 relief on their power bills through a $1.5 billion package included in the federal budget.

This means pensioners, small businesses, and people on government payments will be eligible for the subsidy. However, the amount they receive will depend on where they live.

The Albanese government has had to negotiate eight energy agreements with state and territory governments, so the size of the assistance could vary depending on the government in power and the current cost of living pressures in your part of the country.

Separately, the treasurer also announced that the budget would contain changes to the gas industry’s profit tax.

View attachment 19248

Some struggling to pay for energy costs will receive a subsidy by the government. Credit: Myicahel Tamburini/Pexels

Mr Chalmers shared: ‘People will be getting several hundred dollars if they're on pensions and payments, or a small business, but depending on where you live, depending on what the price pressures are, depending on how much the states and territories are prepared to kick in because this is a co-investment with them.’

Shadow Treasurer Angus Taylor also mentioned that the test for the budget would be whether it could help alleviate pressures from inflation.

He said: ‘Everyone is being hurt by inflation — the whole lot of us...and so if you want to help all Australians, all vulnerable Australians, not just the ones you can identify and the ones you are picking out if you want to help all vulnerable Australians you've got to get the inflation under control.’

Mr Chalmers agreed and told reporters that the budget had been recalibrated and designed to ‘take pressure off the cost of living, rather than add to it’.

The treasurer also said that the budget would offer relief to vulnerable Australians ‘doing it tough’.

View attachment 19249

The treasurer said that this assistance will be offered to vulnerable people across the country. Credit: Rodolfo Clix/Pexels

‘And central to that, probably the centrepiece of the budget will be a cost-of-living package which is broader than what has been speculated on, which prioritises the most vulnerable people and which applies to more than one age cohort,’ he told reporters.

He continued: ‘We’ve already announced cheaper medicines, cheaper early childhood education, help with energy bills, and there’ll be other elements to it as well.’

‘If there’s an opportunity to do better there, we will,’ he explained.

Treasurer Chalmers mentioned in his interview that a $2.4 billion increase in the Petroleum Resource Rent Tax (PRRT) could be seen over the next four years. These changes will follow months of negotiation with oil and gas companies starting July 1.

According to the treasurer, rather than allowing companies to fully deduct their project costs against income (which is what’s happening now), the deductions will be capped at 90 per cent.

‘Australians will get a fairer return on their resources sooner, and what this change means is about $2.4 billion in the forward estimates, which the gas companies wouldn't be paying, the offshore LNG projects wouldn't be paying, were it not for this change,’ Mr Chalmers told reporters.

What this entails is that more tax would come from these projects, and that means it could fund the government’s cost-of-living package and other priorities in the federal budget.

The PRRT was first introduced in the 1980s and has since been generating an average of $2 billion each year. However, it has long been criticised for providing ‘insufficient return’ to the country.

The leading lobby group for the industry, the Australian Petroleum Production & Exploration Association (APPEA), is believed to have supported the PRRT changes. They said they aimed to ‘get the balance right between the undeniable need for a strong gas sector’ that could support reliable electricity and domestic manufacturing for ‘decades to come’.

The group also said there was a need for sustainability in the national budget.

APPEA Chief Executive Samantha McCulloch told reporters: ‘PRRT revenues are already at their highest level ever, forecast to deliver revenue of more than $11 billion over the forward estimates.’

She also said that a ‘bipartisan approach’ was needed to provide investment certainty and called on the government to work ‘constructively and cooperatively’ with the opposition.

Mr Chalmers stated that the whole parliament should support the changes.

‘My message to the Greens in the Senate is if they vote against this, they're voting for lower taxes from these projects,’ he said.

The budget will also make room for increased funding for government and community services, including mental health, disability, domestic violence and homelessness services, the Medicare Benefits Schedule and community nursing.

This report comes after it was announced that the price relief would be applied directly to power bills as credits instead of cash handouts. This would be available to people who are on income support or pensions, recipients of the family tax benefit, and small businesses. You can read more details about this here.

Key Takeaways

• Five million households and one million businesses will receive up to $500 relief on their power bills under a $1.5 billion package in the federal budget.
• Treasurer Jim Chalmers confirmed a $2.4 billion increase in Petroleum Resource Rent Tax over the next four years.
• The budget will also increase indexation for funding for government and community services, including mental health, disability, domestic violence and homelessness services, the Medicare Benefits Schedule and community nursing.

How do you make sure you save on your power bills? Are you looking forward to this bill relief? We’d love to hear from you in the comments below!

taketh with one and give with other. 1500.00 tax and 500.00 electricity help. work the maths out on that one. and that is for one year, what about the next. mongrels i say.

 

[Jest]

We already get a rebate in queensland so I guess we won’t get the full $500. But any additional rebate is most welcome

and why not? he can't discriminate now. the big gesture has been made.

 

[Jest]

The last payment relief package we received for Electricity, Synergy politely took lot the in one hit and told us it was because our metered readings were only estimates for times before, I imagine the same will happen again, we have solar panels and there is only the two us , so I just don’t see how we’re never in credits

read your own meters every month then compare with your estimates. do not be gullible.

 

[Capsam]

Pay fortnightly by Centrepay in order to stay ahead. If I get the full $500 rebate it will not cover the increases in my bills over the last 12 months! No air con or underfloor heating in this house. A desk fan and a small heater only so SOMEONE is getting rich on all those “renewables subsidies”! It certainly isn’t pensioners!

 

[SGH]

I will welcome every cent we can get.

 

[Gsr]

Since my sister is on job seeker and lives in a shed with no electricity and pays a fortune each week for petrol to run a generator for power I’m guessing she won’t get the benefit of any of this. There are probably a lot of other homeless people doing the same, I know of at least six just in my immediate area. What about all the people on support payments who live in caravans, units in a caravan park and pay huge weekly rental to be there, which includes the cost of their electricity/gas. I’m betting they won’t get any relief payment either.

 

[elaine41]

Until I know just how much relief we will be getting in the cold western part of NSW, I will just have to stay wrapped in a blanket to keep warm. With the cost of electricity at the moment I can't afford to run my a.c. as much as I did last year to keep warm & the price of wood for slow combustion fire has also gone through the roof - up from c.$140/load to up to $300/load. I would normally use 2.5 loads to keep my house moderately warm through winter, but at these prices I can't afford to have my wood fire on. The only other option is to go to bed early & read a book to keep warm.

 

[BenV]

The rising cost of living coupled with growing energy bills may have everyone worried, but there is some good news on the horizon.

According to the latest announcement from the federal government, five million households and one million businesses could potentially receive up to $500 relief on their power bills through a $1.5 billion package included in the federal budget.

This means pensioners, small businesses, and people on government payments will be eligible for the subsidy. However, the amount they receive will depend on where they live.

The Albanese government has had to negotiate eight energy agreements with state and territory governments, so the size of the assistance could vary depending on the government in power and the current cost of living pressures in your part of the country.

Separately, the treasurer also announced that the budget would contain changes to the gas industry’s profit tax.

View attachment 19248

Some struggling to pay for energy costs will receive a subsidy by the government. Credit: Myicahel Tamburini/Pexels

Mr Chalmers shared: ‘People will be getting several hundred dollars if they're on pensions and payments, or a small business, but depending on where you live, depending on what the price pressures are, depending on how much the states and territories are prepared to kick in because this is a co-investment with them.’

Shadow Treasurer Angus Taylor also mentioned that the test for the budget would be whether it could help alleviate pressures from inflation.

He said: ‘Everyone is being hurt by inflation — the whole lot of us...and so if you want to help all Australians, all vulnerable Australians, not just the ones you can identify and the ones you are picking out if you want to help all vulnerable Australians you've got to get the inflation under control.’

Mr Chalmers agreed and told reporters that the budget had been recalibrated and designed to ‘take pressure off the cost of living, rather than add to it’.

The treasurer also said that the budget would offer relief to vulnerable Australians ‘doing it tough’.

View attachment 19249

The treasurer said that this assistance will be offered to vulnerable people across the country. Credit: Rodolfo Clix/Pexels

‘And central to that, probably the centrepiece of the budget will be a cost-of-living package which is broader than what has been speculated on, which prioritises the most vulnerable people and which applies to more than one age cohort,’ he told reporters.

He continued: ‘We’ve already announced cheaper medicines, cheaper early childhood education, help with energy bills, and there’ll be other elements to it as well.’

‘If there’s an opportunity to do better there, we will,’ he explained.

Treasurer Chalmers mentioned in his interview that a $2.4 billion increase in the Petroleum Resource Rent Tax (PRRT) could be seen over the next four years. These changes will follow months of negotiation with oil and gas companies starting July 1.

According to the treasurer, rather than allowing companies to fully deduct their project costs against income (which is what’s happening now), the deductions will be capped at 90 per cent.

‘Australians will get a fairer return on their resources sooner, and what this change means is about $2.4 billion in the forward estimates, which the gas companies wouldn't be paying, the offshore LNG projects wouldn't be paying, were it not for this change,’ Mr Chalmers told reporters.

What this entails is that more tax would come from these projects, and that means it could fund the government’s cost-of-living package and other priorities in the federal budget.

The PRRT was first introduced in the 1980s and has since been generating an average of $2 billion each year. However, it has long been criticised for providing ‘insufficient return’ to the country.

The leading lobby group for the industry, the Australian Petroleum Production & Exploration Association (APPEA), is believed to have supported the PRRT changes. They said they aimed to ‘get the balance right between the undeniable need for a strong gas sector’ that could support reliable electricity and domestic manufacturing for ‘decades to come’.

The group also said there was a need for sustainability in the national budget.

APPEA Chief Executive Samantha McCulloch told reporters: ‘PRRT revenues are already at their highest level ever, forecast to deliver revenue of more than $11 billion over the forward estimates.’

She also said that a ‘bipartisan approach’ was needed to provide investment certainty and called on the government to work ‘constructively and cooperatively’ with the opposition.

Mr Chalmers stated that the whole parliament should support the changes.

‘My message to the Greens in the Senate is if they vote against this, they're voting for lower taxes from these projects,’ he said.

The budget will also make room for increased funding for government and community services, including mental health, disability, domestic violence and homelessness services, the Medicare Benefits Schedule and community nursing.

This report comes after it was announced that the price relief would be applied directly to power bills as credits instead of cash handouts. This would be available to people who are on income support or pensions, recipients of the family tax benefit, and small businesses. You can read more details about this here.

Key Takeaways

• Five million households and one million businesses will receive up to $500 relief on their power bills under a $1.5 billion package in the federal budget.
• Treasurer Jim Chalmers confirmed a $2.4 billion increase in Petroleum Resource Rent Tax over the next four years.
• The budget will also increase indexation for funding for government and community services, including mental health, disability, domestic violence and homelessness services, the Medicare Benefits Schedule and community nursing.

How do you make sure you save on your power bills? Are you looking forward to this bill relief? We’d love to hear from you in the comments below!

It would be good if the Government could introduce legislation to ensure electricity retailers paid like for like - for energy produced by solar and fed back into the grid.
We have solar and get a miserable 5 cents a kilowatt produced. Usually, around $12 to $16 per month!!! We spent $10,000 to get our solar system installed (on an interest-free loan) and at the time we installed the system, we were told that it would pay itself off in savings. At the current rate, it will take 168 years to break-even!!!
So much for trying to do the right thing…

The rising cost of living coupled with growing energy bills may have everyone worried, but there is some good news on the horizon.

According to the latest announcement from the federal government, five million households and one million businesses could potentially receive up to $500 relief on their power bills through a $1.5 billion package included in the federal budget.

This means pensioners, small businesses, and people on government payments will be eligible for the subsidy. However, the amount they receive will depend on where they live.

The Albanese government has had to negotiate eight energy agreements with state and territory governments, so the size of the assistance could vary depending on the government in power and the current cost of living pressures in your part of the country.

Separately, the treasurer also announced that the budget would contain changes to the gas industry’s profit tax.

View attachment 19248

Some struggling to pay for energy costs will receive a subsidy by the government. Credit: Myicahel Tamburini/Pexels

Mr Chalmers shared: ‘People will be getting several hundred dollars if they're on pensions and payments, or a small business, but depending on where you live, depending on what the price pressures are, depending on how much the states and territories are prepared to kick in because this is a co-investment with them.’

Shadow Treasurer Angus Taylor also mentioned that the test for the budget would be whether it could help alleviate pressures from inflation.

He said: ‘Everyone is being hurt by inflation — the whole lot of us...and so if you want to help all Australians, all vulnerable Australians, not just the ones you can identify and the ones you are picking out if you want to help all vulnerable Australians you've got to get the inflation under control.’

Mr Chalmers agreed and told reporters that the budget had been recalibrated and designed to ‘take pressure off the cost of living, rather than add to it’.

The treasurer also said that the budget would offer relief to vulnerable Australians ‘doing it tough’.

View attachment 19249

The treasurer said that this assistance will be offered to vulnerable people across the country. Credit: Rodolfo Clix/Pexels

‘And central to that, probably the centrepiece of the budget will be a cost-of-living package which is broader than what has been speculated on, which prioritises the most vulnerable people and which applies to more than one age cohort,’ he told reporters.

He continued: ‘We’ve already announced cheaper medicines, cheaper early childhood education, help with energy bills, and there’ll be other elements to it as well.’

‘If there’s an opportunity to do better there, we will,’ he explained.

Treasurer Chalmers mentioned in his interview that a $2.4 billion increase in the Petroleum Resource Rent Tax (PRRT) could be seen over the next four years. These changes will follow months of negotiation with oil and gas companies starting July 1.

According to the treasurer, rather than allowing companies to fully deduct their project costs against income (which is what’s happening now), the deductions will be capped at 90 per cent.

‘Australians will get a fairer return on their resources sooner, and what this change means is about $2.4 billion in the forward estimates, which the gas companies wouldn't be paying, the offshore LNG projects wouldn't be paying, were it not for this change,’ Mr Chalmers told reporters.

What this entails is that more tax would come from these projects, and that means it could fund the government’s cost-of-living package and other priorities in the federal budget.

The PRRT was first introduced in the 1980s and has since been generating an average of $2 billion each year. However, it has long been criticised for providing ‘insufficient return’ to the country.

The leading lobby group for the industry, the Australian Petroleum Production & Exploration Association (APPEA), is believed to have supported the PRRT changes. They said they aimed to ‘get the balance right between the undeniable need for a strong gas sector’ that could support reliable electricity and domestic manufacturing for ‘decades to come’.

The group also said there was a need for sustainability in the national budget.

APPEA Chief Executive Samantha McCulloch told reporters: ‘PRRT revenues are already at their highest level ever, forecast to deliver revenue of more than $11 billion over the forward estimates.’

She also said that a ‘bipartisan approach’ was needed to provide investment certainty and called on the government to work ‘constructively and cooperatively’ with the opposition.

Mr Chalmers stated that the whole parliament should support the changes.

‘My message to the Greens in the Senate is if they vote against this, they're voting for lower taxes from these projects,’ he said.

The budget will also make room for increased funding for government and community services, including mental health, disability, domestic violence and homelessness services, the Medicare Benefits Schedule and community nursing.

This report comes after it was announced that the price relief would be applied directly to power bills as credits instead of cash handouts. This would be available to people who are on income support or pensions, recipients of the family tax benefit, and small businesses. You can read more details about this here.

Key Takeaways

• Five million households and one million businesses will receive up to $500 relief on their power bills under a $1.5 billion package in the federal budget.
• Treasurer Jim Chalmers confirmed a $2.4 billion increase in Petroleum Resource Rent Tax over the next four years.
• The budget will also increase indexation for funding for government and community services, including mental health, disability, domestic violence and homelessness services, the Medicare Benefits Schedule and community nursing.

How do you make sure you save on your power bills? Are you looking forward to this bill relief? We’d love to hear from you in the comments below!

It would be good if government could legislate to make electricity retailers pay like for like (for solar electricity fed back into the grid).
We paid $10K for a solar system & now get 5cents a kw produced - but are charged 23cents a kw used.
We get about $12 to $15 a month for electricity fed back into the grid. This is pathetic!
It will take 168+ years to just break even - just for trying to do the right thing.
It would be good if we could get a kw discount off energy “used” (not a payment per kw).
In other words, if we produced (let’s say 200kw) and used 500kw we should only have to pay for 300kw.
There could be a break-even clause so we’d only get credits for what we use.

 

[elaine41]

It would be good if the Government could introduce legislation to ensure electricity retailers paid like for like - for energy produced by solar and fed back into the grid.
We have solar and get a miserable 5 cents a kilowatt produced. Usually, around $12 to $16 per month!!! We spent $10,000 to get our solar system installed (on an interest-free loan) and at the time we installed the system, we were told that it would pay itself off in savings. At the current rate, it will take 168 years to break-even!!!
So much for trying to do the right thing…

It would be good if government could legislate to make electricity retailers pay like for like (for solar electricity fed back into the grid).
We paid $10K for a solar system & now get 5cents a kw produced - but are charged 23cents a kw used.
We get about $12 to $15 a month for electricity fed back into the grid. This is pathetic!
It will take 168+ years to just break even - just for trying to do the right thing.
It would be good if we could get a kw discount off energy “used” (not a payment per kw).
In other words, if we produced (let’s say 200kw) and used 500kw we should only have to pay for 300kw.
There could be a break-even clause so we’d only get credits for what we use.

I totally agree. The worst thing I ever did was to put solar panels on my roof. I will never recoup the cost of them in savings from my energy bill but the energy companies score big with the energy I feed into the grid. My advice to everyone is to save your money & don't install solar panels. You are not getting lower energy bills until you have recouped the total cost of your installation. You are paying each month hundreds of dollars to the installers for the cost of the panels & this is really what your energy bill is costing you.