The changes to tax, pays and power bills from July 1

Tax cuts

• Australians with annual earnings of $72,753 will get a $1498 tax cut
  
• People earning $45,000 will get just over $1300 tax back
  
• Australians earning over $120,001 will get the same tax back as they did in the 2022/23 financial year
  

Minimum wage increases

• The national minimum wage rises by less than $1 from $23.23 to $24.10 an hour, translating to $47,621.60 a year based on a 38-hour working week
  

Paid parental leave

• Eligible parents will be able to access up to 110 days or 22 weeks on a five-day work week
  
• The rate of paid parental leave will increase in line with the minimum wage to $915.91 per week
  

Energy bill relief

• All households are eligible for a $300 rebate, applied as $75 quarterly credits
  
• Prices will go down by $17 to $190 across the year, depending on location
  

Superannuation

• The minimum rate of superannuation rises 0.5 percentage points to 11.5 per cent of pay
  
• The before-tax contribution cap increases to $30,000 from $27,500
  
• The after-tax contribution cap increases to $120,000 from $110,000
  

Welfare

• The disability support pension increases by $50 a fortnight
  
• A maximum of $9.40 extra a week for a single person on rent assistance
  

Passports

• A 10-year passport will cost almost $400, up about $50
  

Engineered stone ban

• No more manufacture, supply, processing or installation of engineered stone bench tops, panels and slabs
  
• Engineered stone causes silicosis, a life-threatening lung disease.
  

Vaping

• Sales of vapes to be restricted to pharmacies
  
• Buyers to be allowed vapes with limited nicotine content over the counter, once they have a discussion with the pharmacist about health harms and confirm they're over 18.