Starting July 1, the new fiscal year will be expanded, and major social changes will occur, including expanded measures to support people's livelihoods and an increase in the legal minimum wage.
(1) With the increase in the statutory minimum wage, workers subject to industry-specific collective agreements and general individual agreements will receive wage benefits of 5.75% and 8.6%, respectively, starting July 1. Accordingly, the minimum wage for workers under industrial agreements will be raised from the current $21.38 to $22.61, and for low-wage workers not subject to industrial agreements, the minimum hourly wage will be raised from the current $21.38 to $23.23. Meanwhile, those working at elderly care homes A record-breaking 15% wage increase plan will be implemented for caregivers, chefs, recreational instructors, and others.
(2) The minimum age for pension eligibility will be raised from 66 years and 6 months to 67 years, and the additional income allowance for pension recipients will be increased. Single pensioners earn $204 for two weeks, couples for two weeks, Even if they earn up to $336 in additional income, the pension benefit will not be reduced. However, for income above that, a 50-cent deduction will be applied to every dollar of pension, and if a single pensioner earns more than $2,332 in two weeks, and for couples , if they earn more than $3,568 in two weeks, the pension will be suspended.
(3) Households receiving government welfare benefits and those eligible for other government subsidies will receive up to $500 in energy bill refunds. Additionally, small businesses can receive up to $650 in energy bill benefits.
(4) Eligibility for the Home Guarantee Schemes will also be expanded starting July 1. It will support purchasing a home without the burden of mortgage insurance (LMI) with just 2-5% of the down payment. Eligibility for the First Home Guarantee and Regional Home Guarantee, previously limited to married, single, and common-law couples, will now be allowed to apply jointly by their parents, friends, or siblings. Non-first home buyers who have not owned a home in the past 10 years will also be eligible. The eligibility for the Family Home Guarantee system will also be expanded to include single legal guardians who are dependents. The Home Guarantee system allows not only citizens but also permanent residents to apply.
(5) For a household with a combined income of $120,000, sending one child to Child Care three days a week can save about $1,700 in annual costs. Government child care subsidies will increase by up to 85% to 90%, and high-income couples who previously did not receive government subsidies will also benefit at least partially.
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