As the new year unfolds, several legislative changes, rules, tax adjustments, and new charges are set to take effect from January 1, 2024. Here’s an overview of some notable changes:
- Centrelink Payment Increases:
- Over 930,000 Australians will witness a $20 per week increase (a 6% rise) in their Centrelink payments.
- Youth allowance payments will see a fortnightly increase ranging from $19.10 to $41.40, while Austudy payments will rise between $32.40 and $41.40 per fortnight.
- Disability support pension for individuals aged 21 and under, without children, will increase by $27.40 to $40.70 per fortnight.
- Other payments, including Abstudy, isolated children assistance, mobility allowance, double orphan pension, carer allowance, and pharmaceutical allowance, will also see an increase.
- Medicare Safety Net Thresholds:
- Medicare safety net thresholds will rise, impacting the amount individuals must spend on out-of-hospital medical expenses before qualifying for a higher rebate.
- The thresholds will increase to $560.40 for the original Medicare safety net and $811.80 (concessional) and $2,544.30 (non-concessional) for the extended Medicare safety net.
- Disposable Vapes Ban:
- A ban on the importation of all disposable vapes containing nicotine, representing stringent regulations.
- Only pharmaceutical vapes prescribed by a doctor and dispensed through a pharmacy to aid quitting will be allowed.
- Pass Rate Changes:
- The “50% pass rule” at universities is replaced by a “support for students” policy.
- Struggling students can seek help without the previous requirement to pass 50% of their course units to receive federal assistance.
- Working Seniors:
- Working seniors and veterans can earn more income before pension payments are affected, with a $4,000 increase in the Work Bonus limit.
- Cheaper Medicine:
- Pharmaceutical Benefit Scheme (PBS) prescriptions become cheaper, with the maximum cost for general patients decreasing by 29% from $42.50 to $30.
- Toll Relief in NSW:
- Those spending over $60 a week on tolls in New South Wales will receive the remaining amount back, with rebates capped at $340 per week.
- Active and Creative Kids Voucher in NSW:
- Families receiving family tax benefit A or B in NSW are eligible for two $50 vouchers for activities.
- End of EV Rebates in NSW and SA:
- Electric vehicles will no longer receive a $3,000 rebate in NSW, and the stamp duty exemption for zero and low-emission vehicles ends. In South Australia, the $3,000 rebate will also conclude.
- Gas Ban in Victoria:
- Increased Land Tax in Victoria:
- A temporary land tax surcharge is introduced in Victoria for the next 10 years, with varying surcharges based on land valuation.
- Phones Banned in SA High Schools:
- Mobile phones will be prohibited in public high schools across South Australia, following similar measures in other states.
- Free Preschool in Queensland and ACT:
- Queensland’s kindy (year before school) and preschool for three-year-olds in the Australian Capital Territory (ACT) will be free.
- Vouchers in Queensland and NT:
- The FairPlay vouchers in Queensland and the NT’s Learn to Swim vouchers will be available for eligible recipients.
These changes encompass a broad spectrum, ranging from social welfare adjustments to environmental and educational policy shifts.
