Budget 2024: Tax Cuts, $300 Household Energy Rebates Unveiled as Centrepieces

The opposition, however, argues the budget ‘does nothing to help Australians get ahead and to restore their standard of living.’

Australian Treasurer Jim Chalmers speaks to the media during a doorstop at Parliament House in Canberra, Australia, on May 9, 2023. AAP Image/Lukas Coch

Energy bill relief, tax cuts for every taxpayer, a cap on medicine prices, and support for renters have led the Labor government’s plans to ease cost-of-living pressures.

The federal budget, announced on May 14, delivers $3.5 billion (US$2.25 billion) in new energy bill relief, with every Australian household receiving an energy rebate of $300 (US$198) and one million small businesses getting a $325 rebate.