Tracey Roberts (Pearce, Australian Labor Party) | Hansard source

I rise today in full support of a motion put forward by the member for McEwen highlighting the crucial steps taken by the Albanese Labor government to address the pressing issue of cost-of-living challenges facing Australians. Today marks a significant milestone for every Australian taxpayer as they receive a long-awaited tax cut. In Pearce alone, 86,000 residents are set to benefit with an average tax cut of $1,618 per person. It's important to know that Labor's tax cuts are designed to support a vast majority, including 85 per cent of taxpayers in Pearce totalling 73,000 individuals. Whether you're a nurse, teacher, police officer or tradie or you're working in retail or another industry in Pearce, we will be delivering a tax cut for every Australian taxpayer and bigger tax cuts for more workers to help with the cost of living.

From 1 July, the Albanese Labor government will deliver a $325 energy bill relief directly to small businesses around the country. This shows the Albanese Labor government's commitment to small businesses in Pearce and to ensuring that jobs in those small businesses are not only protected but also provided with a strong economic environment for jobs growth. The Albanese Labor government is committed to supporting small-to-medium businesses across the country and is providing a $290 million cash-flow support by extending the $20,000 instant asset write-off. The Albanese Labor government is also encouraging business owners to invest in their businesses, and, as small-to-medium enterprises grow and succeed, they will provide more local employment opportunities and contribute to the wider economy.

The Albanese Labor government is providing billions of dollars of cost-of-living relief to help ease some of the pressure that people have been experiencing during these times. We have provided cheaper medicines and energy bill relief, both of which are very much welcome in my electorate of Pearce. We have tripled the bulk-billing incentives for millions of Australians, and the Housing Australia Future Fund commences, along with further instalments of our energy rebates. We are doing our best to ease pressures on Australian households, and recently the ABS data has confirmed our $23 billion cost-of-living relief plan is working, taking half a percentage point off inflation.

The residents in Pearce will welcome new legislation that allows new pension entrants over the age-pension age and eligible veterans to start with a work bonus income bank balance of $4,000 instead of $0. Both new and existing recipients can keep the maximum work bonus balance limit at $11,800, up from $7,800. This change aims to support employment, which is a crucial factor for many. This will help people who wish to work if they want to, and I do know residents who are over the age-pension age that wish to do exactly that. We are doubling the employment income zero-rate period to reduce barriers for income support recipients to take up work, by allowing them to retain concession cards under the benefits for longer when they return to work. These are all key factors for income support recipients considering a return to work.

The government's 10-point cost-of-living relief plan, costing $22.5 billion over five years, has been clearly outlined. So let us recap what it entails: delivering the Energy Bill Relief Fund, providing cheaper child care, increasing Medicare bulk-billing, delivering cheaper medicines, boosting income support payments, increasing rent assistance, providing fee-free TAFE training, building more affordable homes, expanding paid parental leave and getting wages moving again. We know that we do not live in a vacuum and that world events are inflicting price pressures on Australians. That is why we're rolling out tax cuts to every Australian, along with billions of dollars of cost-of-living relief that has been carefully thought out to help Australians earn more and keep more of what they earn.

Starting today, 1 July, the Albanese Labor government is delivering tax relief for Australians where they need it the most. Our plan puts money back into the pockets of all taxpayers to help with the cost of living. This additional income will provide better support for all taxpayers and assist families in Pearce with covering their living expenses. The government's economic plan is all about helping Austrians, including in my community of Pearce, to earn more and keep more of what they earn, which is why our budget is focused on cost-of-living tax cuts for every taxpayer, energy rebates for households and small businesses, and real wages growth.

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