A central focus of the Government’s Budget was on easing cost-of-living pressures for middle Australia. The Budget provides relief to those Australians through a range of measures including rebates for rent and electricity. In addition, the Government’s social policy was largely directed towards progressing equality and supporting women, children and parents. Notably, the Budget allocated $1.1 billion to pay superannuation on Government-funded Paid Parental Leave and $925.2 million to make permanent the Leaving Violence Program.
Easing cost-of-living pressures
- The Government will deliver tax cuts for all 13.6 million Australian taxpayers from 1 July 2024 to ease cost-of-living pressures.
- As part of that, the Government will provide $3.5 billion in energy bill relief for all Australian households and around one million small businesses.
- from 1 July 2024, more than 10 million households will receive a total rebate of $300 and eligible small businesses will receive $325 on their electricity bills throughout the year; and
- the Government estimates the tax cut will reduce headline inflation by around 1/2 of a percentage point in 2024–25 and will not add to broader inflationary pressures.
- The Government will also give $1.9 billion over five years from September 2024 to increase maximum rates of Commonwealth Rent Assistance:
- this will increase the maximum rates by a further 10 per cent, building on the 15 percent increase in September 2023, and apply to nearly 1 million households;
- for single parents or couples with one or two children the maximum rate of Rent Assistance has increased by over $70 per fortnight since May 2022; and
- the Government expects the boost to put downward pressure on rents like it did in last year’s budget.
Supporting parents
- The Government will provide $1.1 billion over five years from 2023–24 to strengthen Australia’s government-funded Paid Parental Leave (PPL) scheme and improve women’s retirement outcomes. The includes:
- $1.1 billion to pay for superannuation on Commonwealth government-funded PPL for births and adoptions on or after 1 July 2025. Eligible parents will receive an additional payment based on the Superannuation Guarantee, as a contribution to their superannuation fund;
- $10.0 million over two years from 2024–25 to provide additional support for small business employers in administering PPL; and
- the Government estimates this measure will increase tax receipts by $155.0 million over two years from 2026–27.
Supporting families
- The Government will pay $14.3 million over five years from 2024–25 to extend and expand existing community support for parents and caregivers to improve child outcomes in line with the Early Years Strategy. This includes:
- $4.8 million over two years for The Fathering Project;
- $4.6 million over two years for the Raising Children Network;
- $4.3 million over two years for the Supporting Expecting and Parenting Teens Program administered by the Brave Foundation; and
- $0.4 million over five years to establish a Parents and Carers Reference Group.
- The Government announced it will target the $1.0 billion for social housing under the National Housing Infrastructure Facility towards crisis and transitional accommodation for women and children fleeing domestic violence, and youth, including redistributing the mix of concessional loans and grants to increase the proportion of grants to $700.0 million.
- The Government will also provide $98.4 million in 2024–25 to help child care services increase their capacity to support inclusion of children with additional needs.
Supporting women
- The Government will give $925.2 million over five years from 2023 to make permanent the Leaving Violence Program (LVP) that will provide financial support, safety assessments and referrals to support services for victim-survivors leaving a violent intimate partner relationship. This includes:
- $756.4 million over five years to establish the LVP from 1 July 2025 to provide financial support of up to $5,000 and support services including risk assessments, safety planning and short-term referral services for up to 12 weeks;
- $152.3 million over three years to extend and expand the Escaping Violence Payment and the Temporary Visa Holders Experiencing Violence Pilot trials to 30 June 2025, and to continue to provide support services for a further 12 weeks beyond the pilot end date for active cases; and
- $16.5 million over five years to continue to provide legal assistance for temporary visa holders leaving a violent relationship.
- In addition, the Government will provide $6.1 million over four years from 2024–25 for continued specialised support for visa holders experiencing domestic and family violence through the Domestic and Family Violence visa support service.
- The Government will provide $56.1 million over four years from 2024–25 (and $0.4 million per year ongoing) to improve access to sexual and reproductive healthcare for women in Australia across the life-course, including support for women’s health services on miscarriages, pre-term or early-term births, stillbirths, early pregnancy and menopause.
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