2024 Budget to Ease Cost of Living and Boost Small Business on 1 July
1 July is fast approaching and a number of the Albanese Labor Government’s key measures from the 2024 Budget are set to start.
These measures are an investment by our Government in our community.
I know that many in North West Sydney are concerned about the cost of living – and that’s why our Government is committed to easing pressures faced by many Australians right now.
These measures are designed to provide relief while at the same time ensuring that we do not add to inflationary pressures that drive the cost of living higher. This includes Labor’s tax cuts – a key part of our plan to ensure everyone is able to earn more and keep more of what you earn.
Every single taxpayer – including 93,000 in Greenway alone – will receive a tax cut from 1 July.
We will also deliver $300 to reduce every Australian household’s power bill and freeze the cost of medicines on the Pharmaceutical Benefits Scheme. These measures also are an investment in our small businesses. The Albanese Government knows that small business is the engine room of the Australian economy.
In North West Sydney, over 18,500 small business will be eligible to receive $325 of power bill relief and continue using the $20,000 instant asset write off to invest in your business.
We are also ensuring that small businesses will play a central role in our plans for a future made in Australia. On top of these measures, we are making historic investments and reforms in the tertiary education sector.
We have wiped $3 billion in student debt for three million Australians and are investing in our future teachers, nurses, and social workers by supporting them with pay during their practical placements. We are also continuing our partnership with State and Territory Governments to address future skill needs.
An additional 20,000 fee-free TAFE places will be made available, adding to the more than 355,000 fee-free places already offered.
This initiative ensures that Australians have the skills required for the jobs of the future.
The Albanese Government remains dedicated to fostering a thriving economy while easing the cost of living for Australians.
As your Federal Member for Greenway, I am proud to support these initiatives that will bring real benefits to our community.
Michelle Rowland MP is the Federal Member for Greenway and Minister for Communications. If you need assistance with any Federal issue, you can contact Michelle by phone on 02 9671 4780 or by email at [email protected].
