The 2025–26 Federal Budget handed down before the poll underscores the government’s commitment to enhancing aged care services.

The Federal Government allocated $2.6 billion to fund pay rises for aged care nurses, effective from March 2025. The Treasurer, Jim Chalmers, said this was aimed at improving workforce retention and service quality.

To support the rollout of the new Aged Care Act commencing 1 July 2025, $291.6 million over five years has been earmarked for regulatory readiness, digital transformation, and culturally appropriate care initiatives.

The government reaffirmed funding for the Support at Home Program, which is set to begin in July 2025. It will expand access to flexible in-home aged care services.

The Government promised during the election to expand bulk billing for GP visits and the establishment of additional Medicare Urgent Care Clinics, enhancing accessibility for older Australians.

Another policy affecting wealthier retirees is an increase in the tax rate on superannuation earnings for balances exceeding $3 million. Starting from 1 July 2025, earnings on the portion of super balances above this threshold will incur an additional 15 per cent tax, effectively increasing the tax rate to 30 per cent for high-balance accounts.

Despite scaremongering from conservative media outlets, the reform is modest, targeting only the top 0.5 per cent of Australians. The Treasurer hopes the reforms will generate approximately $40 billion over a decade to fund essential services such as Medicare and aged care.

“The PSA CPSU NSW Retirees Associates meet regularly to discuss legislative changes that affect older Australians,” said Industrial Support Manager Dylan Smith. “We encourage retired members to join and continue their membership with their union.

“The Retirees Associates meet regularly at PSA House, with the option to join online.”