On July 1, Australia’s Channel 9 News said that a series of new policies have come into effect with the arrival of the new fiscal year.
2.6 Million Australians Enjoy Wage Increases
Around 2.6 million Australians are enjoying a pay rise, with the minimum wage increasing by 3.75%, from A$23.23 to A$24.10 per hour, and the weekly wage for full-time workers increasing by A$33. Australia’s minimum wage is among the highest in the world, surpassing that of the US, UK, Canada and New Zealand in 2023, and adjusting with the economy. Simultaneous implementation of three phases of tax cuts, not a massive one-off payment, but rather a reduction in the tax portion of each paycheck.
Pension enhancement
The pension guarantee will increase from 11% to 11.5% from July 1, benefiting all workers, and is expected to continue to rise next year.
Parental Leave
The Federal Government has updated its paid parental leave policy to include two new weeks of publicly-funded leave, increasing the total to 22 weeks, with two more weeks planned for 2025 and 2026.
New Discounts on Electricity Bills in Australia
Starting July 1, most residential electricity rates in Australia will drop. With the implementation of the new electricity tariff policy in NSW and VIC, the average annual saving for a family is $170, which can be up to $289 considering inflation, not including government discounts.
Welfare
A 10% increase in federal rental subsidies will benefit millions of families, following last year’s 15% rise and the first consecutive increase in 30 years.
The government announces federal budget highlights for the new financial year: each household will receive $300 off their energy bill, with an automatic credit of $75 for each of the four quarters.
More than 2 million Australians will enjoy increases in welfare payments, including family allowances and superannuation, stemming from next quarter’s index adjustments.
Package rates may rise as NBN goes up
As a result of the NBN wholesale price increase, current package costs for families may increase, depending on the service provider and type of package.
Passports
The fee for an adult 10-year passport has increased from $346 to $398, plus $100 for expedited processing to within five working days.
Artificial stone processing ban
Beginning July 1, the sale and processing of artificial stone will be banned due to health risks. The dust released during processing contains harmful substances that can cause serious lung disease.
For all of these actions, the Government should pay close attention to the impact of inflation to ensure that benefit increases can truly enhance the quality of life of beneficiaries. For benefits such as parental leave and pension increases, the application process should be simplified to make it easier for beneficiaries to understand and receive benefits quickly. Finally, for the implementation of policies, the effects of these policies should be regularly monitored and evaluated to ensure that they meet their stated objectives and adjustments should be made based on feedback. By doing so, welfare policies can be made more efficient and fair, and the quality of life can be enhanced.
