Treasurer Chalmers third budget focuses on cost-of-living relief

Federal Treasurer Jim Chalmers's third budget prioritised tax cuts for 13.6 million taxpayers. An average tax benefit of $1,888 every year or $36 weekly will be received starting 1 July.

Jim Chalmers acknowledges the cost-of-living pressures faced by Australians at home and the weakening global economy. Just over six billion dollars goes to investment in new housing, with an extra one billion dollars going to states and territories for new housing. There’s also extra help for renters. Source: AAP / MICK TSIKAS/AAPIMAGE

Key Points

• From July 1st, more than ten million households will get a total rebate of 300 dollars over the year. Eligible small businesses will receive 325 dollars over the same period.
• The Budget provides nearly two billion dollars over the next five years to raise the maximum rates of Commonwealth Rent Assistance by an extra 10 per cent.
• From the next financial year, only 185,000 places will be allotted to permanent migration.

The government wants to introduce new legislation to cap the maximum number of new international student places at universities and the vocational education and training (VET) sector.

The legislation will allow more international student placements over and above the cap if they build additional purpose-built student accommodation for both international and domestic students.