From energy rebates to childcare relief, here’s a roundup of cost-of-living support on offer.
Labor has delivered its first New South Wales state budget in over a decade and it comes in the middle of a nation-wide cost-of-living crisis.
Housing affordability and availability was one of the big focuses of the budget, with a $2.2 billion investment in housing and infrastructure programs.
But what cost-of-living relief and cash boosts can NSW residents seize on sooner? Here’s a roundup of the support on offer from energy to childcare relief.
Residents across Australia are struggling with the rising cost of energy and there’s provisions to help some with the bill. Low-income households, families and seniors could benefit from higher energy bill rebates from July 1, 2024 if they are eligible concession holders.
The Low Income Household Rebate and Medical Energy Rebate will increase from $285 to $350 per year. The Family Energy Rebate will increase from $180 to $250 per year for those on the full rate. The Seniors Energy Rebate will increase from $200 to $250.
Read all about it here.
A $60 weekly toll cap will be introduced from January 1, 2024 and roughly more than 700,000 motorists are expected to be able to claim cash back, the highest netting about $540.
Drivers will get a quarterly refund from Service NSW. You can read about all the details here.
Bad news for electric vehicle drivers, a $3,000 rebate for new cars is being scrapped.
Childcare: Families with three-year-olds in long day care will benefit from $500 in fee relief per child, per year. The program is committed for the next two years.
The Start Strong program will also continue, providing families with up to $4,220 per year in fee relief for three-to-five-year-olds in community and mobile preschools.
There’s also $2,110 in fee relief for children aged four years and older attending preschool in long day care centres.
Kids recreation: A new $50 voucher helping parents cover the cost of sport and other creative pursuits like music or art will be rolled out on February 1, 2024.
It will be issued twice a year and replace two separate vouchers that were worth $100.
However, the bonus will only be for those on the Family Tax Benefit Part A, not all families as it had been.
Prospective home buyers
The government expanded stamp duty exemptions and concessions for first home buyers from July this year.
Stamp duty exemptions were introduced for purchases up to $800,000, and a concession for those spending between $800,000 and $1 million.
The package targets 84 per cent of first home buyers who pay less than $1 million, with five out of every six buyers paying no stamp duty.
New healthcare students will receive scholarships of $4,000 per year and existing students will get one-off payments of $8,000 from January 1, 2024.
The catch? Students must be willing to make a five-year commitment to the NSW public health system.
Public transport users
Opal prices will rise across the transport network (trains, buses, ferries, light rail) and a long-standing discount has been scrapped. But travellers are being offered capped prices on a Friday.
Find out more here.