Millions could receive up to $500 off their energy bills - find out if you're eligible!

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.


energy1.jpg
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’.


energy2.jpg
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!
 
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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!
Makes one wonder if Chalmers has any idea as to how to finance the Australian economy.
If any one thinks the oil/gas industries will not recoup these tax payments by increasing the price of their goods then keep dreaming.
If these overseas owned oil and gas industries are going to continue their investments in Australia when Chalmers is going to make them being unable to deduct their investment costs he must dreaming.
Today the oil and gas industries, tomorrow the coal, iron ore, minerals, banks, all other industries being hit with the same restrictions on their investments will lead to massive unemployment and income from these industries wich will lead to even greater inflation rates.
 
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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.
I am not surprised by your comments. The monies you have paid to have solar energy installed has enabled the Government to stop building new HELE Coal fired power stations. Just calculate the number of solar panels installed, the MW of energy supplied to the grid plus the alleged free energy to power your homes and the pathetic costs paid by the Energy Companies and you get an idea as to the profits being made by all energy providers. If the Energy companies are only paying 5 cents per Kwh then the price of electricity being charged by these energy companies should only be the same price.
And this is only the tip of the iceberg. The costs to process and dump these solar panels, batteries and wind turbines will be costing billions of dollars within the next 15 to 20 years and just guess who will be paying and it will not be the alleged green energy providers.
 
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Reactions: Jarred Santos
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!
My power went from around $460 for the quarter to $1153, certainly the $500 will help this time but there are 4 quarters to the year do I get $500 each quarter..... these power increases are nothing greedy corporations..... the war in Ukraine has got ABSOFUCKINGLUTELY NOTHING TO DO WITH US.... just plain and simple greed and with very week gutless political puppets at the helm..... Its time we the people fought back against this corruption
 
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Reactions: Jarred Santos
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.
stop feeding back into the grid and see about feeding it into your neighbours home.... tell the energy companies where to get off, unfortunately they will still charge you for the power going past your home
 
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Reactions: Jarred Santos
I always pay my utilities fortnightly. Less of a shock when the bills come in and pleasure to see them in credit.
Agree. My mother in law does exactly the same thing; her money goes into several different envelopes on a fortnightly basis so she is WAY ahead of her utility bills! ...... 😁
 
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!
How do I apply for this
 
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.
I have had no use for solar so far, but decided to put solar in. An extra $30 for 7 years per month. It will be installed next week. I just received an reverse cycle air conditioner that will take some power and I also make my place ready for e vehicle. That can than be charged on the daytime from solar and will save $200 a month on fuel. It will pay off very quickly.
 
In Victoria i doubt that there is any more than what is already. We are currently receiving $250 energie relieve from 24.3 this year and this is already the round 4 of it. I think the State Government will cash in on that and may be... there is a round 5.
 
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!
I use heated rugs for my heating in my lounge room ,they are inexpensive ,warm on different heats , washing them to is easy at the end. of winter to ,my grandchildren that stay at night have 1 each to ,electric blankets on beds at night
 
IF THE GOVERNMENT HAD NOT SOLD OUT OUR UTILITIES WE PROBABLY WOULD NOT BE IN THIS POSITION. As soon as something is privatised the costs to consumers go up. Also if the Councils did not force fluoride onto us our water rates would or should go down. There is evidence that ingesting fluoride doesn't do anything for our teeth, and there a lot more cells to worry about in our bodies that fluoride affects. We don't want it or need fluoride in our water. My water rates have gone up triple since they introduced fluoride.
 
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.
I also pay my gas ,power and water bills monthly . It depends on the season as to the bigger gas bills ,I still pay the same as it builds up for when it gets cold. I control my payments vis my own bank account so no need to ring utility providers .I find regular payments allieviate the pain of the bills.
 
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!
$500 is enough to cover 1.5 bills. Laughable....
This appeasement is at play.
 
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.
mongerals is an understatement
 
As the electricity is not in my name but in Jaz's from when he was working & had a lot more money than me. Then I hope he gets it as he is on 'job seeker this would take some of the pressure off me as I usually get the advance from Centrelink which I pay back over time from my pension this I have been doing since he was told the taxi depot would close. It works well for us. I just hope we get some help as it is scheduled to go up for winter here in Queensland we don't even have an electric heater. Jaz came from NZ but although I came from cold, grey, England I feel the cold so I just add another layer.
 
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!
what is the formula used to determine the amount of rebate you will receive?
 
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.
Queensland has a heap of mines, yet we get nothing from the Premier, you have a good Premier
 
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.
Certainly an unenviable position to be in. Having your fuel go up by more than 100% does seem unreasonable. My experience is that millends bought in winter contain water because the company keeps this in the open weather prior to delivery, which also means the customer gets less than what was paid for weight wise.
 
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
We have just moved into a rental with solar panels, first time for me. Our bill over Summer for two was $385, is this good or bad?
 

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