federal budget 2022-23

The first Federal Budget for the new Albanese Government contained limited changes for super but provided welcome measures aimed at boosting women’s workforce participation and to address Australia’s housing crisis.

Our budget fact sheet gives you a snapshot of the changes, including:
 

• lowering the eligibility age for downsizer contributions
   
• support for older Australians including incentives for pensioners to return to paid work, the temporary freezing of social security deeming rates and increased income threshold for the Commonwealth Seniors Health Card
   
• reforms to the existing Government Paid Parental Leave Scheme including extending payments from 18 to 26 weeks by 1 July 2026
   
• measures to make childcare more accessible and affordable
   
• the Housing Accord, which will provide the first step to overcoming barriers to increasing the supply of affordable and social housing.