Budget 2023 LIVE updates: Medicare boost, energy bill relief at forefront of cost of living relief measures; Australia’s economic growth set to slow to 1.5 per cent

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Treasurer Jim Chalmers is handing down the 2023 federal budget

Dr Nicole Higgins from the College said that hiking Medicare rebates in July and November was a “good first step.”

“Labor promised to do more to respond to the escalating conflicts and ongoing crises of persecution and displacement in our region, and to increase refugee and humanitarian places that have fallen to near record lows of 13,750,” Amnesty Refugee Rights Campaigner Zaki Haidari said. He claimed that the average Australian family was $25,000 a year worse-off since Labor was elected and that the $185 billion in spending would add to inflation.Australians who travel overseas will pay $10 more for a passenger movement charge and the cost of securing a visa to enter Australia will rise.

Charges will rise by 15 percentage points for visa categories including those for visitors, working holidaymakers, and temporary work.How will the new Medicare bulk-billing incentives work?Millions of Australians will receive better access to free GP visits under a $3.5 billion budget measure that will triple the financial reward for doctors who don’t charge their most vulnerable patients any out-of-pocket costs.

In a regional area such as Cessnock in NSW, where bulk-billing clinics have all but disappeared, the benefit for a standard consult with the bulk-billing incentive will be $74.75 – almost 50 per cent more than the status quo . Among the policy changes to raise more revenue, an extension in a GST compliance program is the biggest initiative, raising $3.8 billion over the next four years. The government said the program would involve giving the Australian Tax Office an extra $588 million to continue with “a range of activities that promote GST compliance.”

As for support measures, the budget announced a tax break allowing small firms to deduct the full cost of eligible assets costing up to $20,000.Home renovators wanting solar panels, double glazing or even more energy-efficient appliances will be able to take advantage of low-interest loans under a $1 billion budget measure - but those wanting a better home energy efficiency rating shouldn’t rush to the bank just yet.The federal government is creating a $1.

 

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