1 April 2023 Changes
1 April isn't just the start of a financial year......changes are coming.
Minimum wage increase
The adult minimum wage will increase from $21.20 per hour to $22.70 – an increase of 7%. For someone who works a 40-hour week on the minimum wage, this increase will give them an extra $60 a week before tax. The starting-out and training minimum wage will rise from $16.96 to $18.16 per hour.
Superannuation
Superannuation will increase by about $100 for a couple per fortnight, and about $70 for individuals (after tax).
How much a person receives depends on living situations and tax rates.
For a single person living alone, the fortnightly rate will increase from $925.88 to $992.74 after tax (at rate M), while a couple who both receive superannuation will have their combined fortnightly payment increase from $1424.44 to $1527.28.
Childcare assistance
The income thresholds for the childcare subsidy and out of school care and recreation (OSCAR) subsidy are increasing.
Working for Families tax credit
The family tax credit will increase by $9 a week for the eldest child to $136 a week, and by $7 a week for subsequent children to $111 a week.
Best Start too will lift by $4 a week to $69 a week.
Other benefit increases
All other benefits increase on April 1.
Student support rates will increase in line with inflation, with single students under 24 without children to get an extra $20.21 per week. Others include jobseeker support, the young parent payment and disability allowance.
Lower petrol costs and half price public transport will remain until the end of June – and permanently for community services cardholders and tertiary students.
