Overview
- From July 1, the national minimum wage and award rates will rise by 3.5%, lifting the hourly rate to $24.95 and benefiting nearly 3 million workers.
- Employers will increase superannuation guarantee contributions from 11.5% to 12%, extending coverage to government-paid parental leave to bolster retirement savings.
- Paid parental leave will expand to 24 weeks with elevated income thresholds, giving new parents more time and support.
- Centrelink payments and age pension asset and income limits will be indexed by 2.4%, increasing welfare and pension entitlements to keep pace with inflation.
- Households and about one million small businesses will receive a $150 energy bill rebate and the government will cover roughly 30% of solar battery installation costs under the Cheaper Home Batteries program.