From 1 July this year, over 10 million individuals will receive a one-off $420 cost of living tax offset. Combined with the low and middle income tax offset (LMITO), eligible low- and middle-income earners will receive up to $1,500 for a single income household, or up to $3,000 for a dual income household.

To help Australians meet cost of living pressures, the Government is providing a one-off, income tax-exempt payment of $250.
This payment will help 6 million people, at a cost of $1.5 billion.
More than half of those who will benefit are pensioners.
It will be paid automatically to all eligible pensioners, welfare recipients, veterans and eligible concession card holders in April 2022.

As part of Australia’s plan for a stronger future, the Government will reduce fuel excise by 50 per cent for 6 months. This will see excise on petrol and diesel cut from 44.2 cents per litre to 22.1 cents per litre from 30 March.
Fuel subject to a lower excise rate is expected to flow through to the majority of service stations and Australian consumers within a few weeks as stations replenish their stocks.

Fuel excise fact sheet [PDF 239KB]