Federal Budget

Vaccines

An extra $1.9 billion will be spent on our vaccine strategy over the next five years, with the government also confirming it's set aside a pool of money to invest in mRNA vaccine production in Australia. The government is also chipping in another $1.5 billion for COVID-related health services like testing and contact tracing.

Women

In addition to changes to the childcare subsidy, the government's tipping in $354 million for women's health. That includes $100 million for improving cervical and breast cancer screening programs, including extending the free mammogram service to now cover women aged 40 to 74 (previously it was for women aged 50 to 74). More than $47 million is being put toward depression services for pregnant women and new mothers, $95.9 million on screening of embryos during IVF and $13.7 million to reduce pre-term birth rates, especially among Indigenous communities. There'll also be a new trial program which gives women fleeing violent relationships up to $5,000 in assistance, split into a $1,500 payment and $3,500 in expenses like rent, legal fees and furniture.

Aged Care

The government is putting an extra $17.7 billion toward aged care over five years, or roughly $3.5 billion a year. While it's a significant injection, it's worth noting the royal commission into aged care declared the sector was underfunded by about $10 billion a year. The money will be spent on 80,000 new home care packages over the next two years, bringing the total to more than 275,000 by June 2023. Respite care and support services will also be boosted by $798 million over the next five years.

Mental Health

An extra $2.3 billion is being invested into the National Mental Health and Suicide Prevention Plan, and will be shared across five key areas. Around $250 million has been set aside for early intervention, including a new digital platform that'll provide online counselling, peer and clinical support, and referrals. A further $298 million will go directly to suicide prevention. The federal government is going to work with the states and territories to fund aftercare for every person discharged from hospital after a suicide attempt.

Businesses

Businesses with a turnover of up to $5 billion will be able to write off the full value of any eligible asset like a work vehicle or equipment they bought between last budget and June 30, 2023, an extension of an additional 12 months. The extension also mean any losses incurred up to June 2023 can be offset against prior profits made going back to the 2018-19 financial year.

Farmers

Waive almost $15 million of debt owed by more than 5,000 farmers receiving the Farm Household Allowance from Centrelink.