As expected the 2023-24 budget was filled with measures aimed at easing cost of living pressures, addressing the challenges of a slowing economy, and bolstering the healthcare system.

The key measures announced were:

• Increased payments to eligible income support recipients
• Energy relief providing savings of up to $500 for eligible households and $650 for eligible businesses
• Employers will be required to make super contributions at the same time as they pay wages
• Confirmation that the halving of pension minimum drawdowns will cease this financial year
• Increased tax on earnings on super balances over $3 million
• Steps to reform aged care including increasing the pay for age care workers
• Additional funding for medicare to encourage more bulk billing
• A $20,000 instant asset write off for eligible small businesses
• Confirmation that at this time that there will be no change to the incoming tax rates

Please click the link below to view a more detailed summary of the measures announced in the budget.