New financial year, new changes. From 1 July, Australians can look forward to tax breaks, a rise to the minimum wage for millions of workers, and residents will start to see the energy bill relief announced in the federal budget show up in their quarterly bills. Here's what you need to know. More than 10 million households will get a $75 credit on each quarterly bill while small businesses will get an annual credit of $325 under sweeteners announced in the May budget .
Experts say, for example, someone on $60,000 a year will notice a weekly lift in their take-home pay of about $23. Somebody on $120,000 a year will receive something like $52 more per week. A household with a combined income of around $130,000 where one partner earns $80,000 and the other $50,000, will receive around $50 a week. To calculate the effective rise in your pay packet, use our interactive tool below.
Source: Energy Industry News (energyindustrynews.net)
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