Electricity
- With likely repeal of carbon tax bill under a new Senate, the Federal Government estimates electricity prices will fall by 9 per cent but rising network costs - typically comprising over half a power bill – could gobble up any savings.
Superannuation
- Super guarantee (compulsory employer contributions) rises from 9.25 per cent to 9.5 per cent.
- Contributions caps rise.
Work
- 12-month pay freeze for MPs, departmental secretaries and public office holders begins.
- National minimum wage rises 3 per cent - or approximately 50 cents an hour - to $16.87 per hour to $640.90 per week.
- Expanded work for the dole program begins.
- Up to $10,000 payments will be made available for businesses hiring workers aged 50+.
- Business activity statements cease for electronic lodgers.
Health insurance
- Private health insurance income thresholds rise.
- Medicare levy rises from 1.5 per cent to 2 per cent to fund National Disability Insurance Scheme (DisabilityCare).
Aged and disability care
- New nursing home residents to have assets included in calcatuions for fees payable for care and living expenses.
- Aged care subsidies for home and residential care providers and community programs increase.
- High and low care services can charge residents a means-tested fee of up to $25,000 per year.
- National Disability Insurance Scheme trials begins in the ACT, WA and NT.
- Higher indexation of the Defence Forces Retirement and Benefits schemes.
Other charges
- Temporary debt levy is introduced, with 2 per cent charge on taxable income above $180,000.
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