Yahoo Finance Budget 2023: Millions to get up to $500 in energy bill relief
Millions of Aussies will get power relief as part of the government’s cost-of-living package.
More than 5.5 million Aussie households and 1 million businesses will get up to $500 in energy relief in tomorrow’s federal budget.
The $1.5 billion bill-relief package will apply to pensioners, small businesses and people on government payments. The exact amount of money you receive will depend on where you live.
Here’s what we know so far.
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How much will Aussies save?
Aussie households are expected to be eligible for up to $500 in energy bill relief. However, Treasurer Jim Chalmers has not confirmed the exact numbers ahead of the budget.
Chalmers said people would be getting “several hundred dollars”, but it would differ depending on where you lived.
The government has had to negotiate eight different deals with the state and territory governments, and the amount will also depend on price pressures and how much the state is willing to contribute.
Who will get the energy relief?
The energy bill relief will benefit pensioners, people receiving government payments and small businesses. More information on eligibility criteria will be released in Tuesday’s budget.
How can I get energy relief?
The government previously said energy bill relief would be applied as a credit to eligible household’s eligible bills, rather than given as a cash handout.
What other cost-of-living relief is coming?
The federal budget will commit $14.6 billion over four years to help Aussies struggling with cost-of-living pressures.
In addition to the $1.5 billion in energy relief, it is widely anticipated that payments for single parents will be extended by up to four years. They currently end when the recipient’s youngest child turns eight years old.
JobSeeker payments are also expected to be boosted “modestly” for all ages, not just for those over 55 - as was reported last week.
The government has also announced changes to prescriptions, which could save Aussies up to $180 a year per medication.
Changes to Commonwealth Rent Assistance are also anticipated.
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