Cost of Living Relief

 

The Albanese Government has a range of policies and assistance in place to help with the cost of living.

Please click on a topic below for more information.

Tax cuts for EVERY taxpayer

Labor is giving every Australian taxpayer a tax cut.

To find out more, click here

Energy bill relief

Energy Bill Relief

 

From 1 July, every Australian household will receive an energy rebate of $300, and 1 million small businesses will receive a rebate of $325 from the Albanese Labor Government.

These rebates will help families pay their bills, while putting downward pressure on inflation.

Cheaper medicines

We're delivering cheaper medicines.

 

We've lowered maximum cost of a prescription on the Pharmaceutical Benefits Scheme (PBS) was lowered to $30 in January, from $42.50, in the largest cut to the co-payment in the 75-year history of the PBS.

From September 1 2023, Australians with a chronic condition have also benefitted from cheaper medicines on around 100 common medicines listed on the Pharmaceutical Benefits Scheme (PBS) under the first stage of the Albanese Government’s new 60-day dispensing policy.

The change means patients living with a chronic, stable condition will be able to buy two months’ worth of these medicines for the price of a single prescription, rather than the current 30-day supply.
 
People with a Medicare card buying just one of these medicines will save up to $180 every year. Concession card holders will save $43.80 a year for each eligible medicine.


Cheaper childcare

Cheaper childcare for families

 

The Albanese Labor Government has reformed the Child Care Subsidy.

 

Thanks to the increased Child Care Subsidy a family, earning $120,000, with one child in care, can expect to save about $2,000 in child care costs this financial year.

 

All Australian families earning under $530,000 per year are entitled to a subsidy, with percentage of subsidy adjusted based on income.

 

Centre-based care includes day care, preschool, out-of-school hours care, occasional care and family day care at a venue other than a residence.

 

You can check the Child Care Subsidy you are eligible for online here: https://www.education.gov.au/child-care-subsidy-campaign

Increasing bulk billing

The Albanese Government tripled the bulk billing incentive for GPs in November 2023, as part of the Government’s $6.1 billion Strengthening Medicare reforms. This is the largest investment in bulk billing in Medicare’s 40-year history. 


 
The increase in the bulk billing rate means Australians had an estimated 360,000 additional trips to the GP bulk billed since the tripled incentive began on 1 November 2023. 


 
Bulk billing had been falling after a decade of cuts and neglect to Medicare by the former Government that began when Peter Dutton froze Medicare rebates as Health Minister.

 


Thanks to the Albanese Government, bulk billing has now stabilised and begun to rise again, enabling GPs to bulk bill more patients who need care the most.  


 
Families with children under 16, pensioners and other concession cardholders are finding it easier to see a bulk billing doctor than they have for decades. 


 
The increase in bulk billing is across all states and territories, with GP clinics around the country making the shift back to bulk billing.



Rural and regional Australians have benefited the most with an estimated additional 202,000 free visits to the GP in just two months. 


 
The extra free visits are benefitting both people’s health and their hip pockets.  


 
Nationally, Australians saved an estimated $15 million in GP gap fees in November and December 2023, helping to ease the cost-of-living pressures on household budgets. 


 
The bulk billing incentive is paid on top of the standard Medicare benefit when doctors bulk bill children under 16, pensioners and other Commonwealth concession card holders.



 

Increasing income support

In the 2023 Budget, we announced a range of measures regarding income support. These include:

 

  • Increasing Jobseeker, Youth Allowance, Austudy and other income support payments by $40 a fortnight.
  • Expanding the single parent payment so it covers families until the youngest turns 14, up from 8.

 

As a Labor Government, we will always strive to help those who need it the most. 

Increasing Rent Assistance

The Government has implemented the biggest boost to Rent Assistance in 30 years.

 

On 20 September 2023 we increased the maximum rates of this payment by 15 per cent.

 

In the 2024 Budget, we again increased Rent Assistance - meaning the amount for Rent Assistance is now 40% higher than it was when we came to Government in 2022.

 

For information on Rent Assistance, please click here: https://www.servicesaustralia.gov.au/rent-assistance