FEDERAL BUDGET MAY 2024: KEY POINTS FOR RETIREES
- No new changes to Superannuation or Pension Income streams.
- Focus on cost-of-living crisis. Energy Rebate of $300 per family from 1st July 2024. This will be deducted automatically from your electricity bill quarterly. You will see a $75.00 rebate by the government.
- Cheaper Medicine. A one year freeze on the maximum Pharmaceutical Benefits scheme co-payment for everyone with a Medicare card. ($31.60).
- Centrelink Aged Pension. Deeming rates to remain on hold.
- Further allocated funding for the Aged Care sector of $2.2 billion over the next 5 years.
- Rental assistance to increase by 10% from September 2024