Seniors Changes for 2018
Here are the top ten changes which will may affect Seniors this year Carers are set to receive an additional $2.40 a fortnight in line with inflations
HOUSING AFFORDABILITY - New homeowners will not be able to claim the cost of inspecting and maintaining rental properties as tax deductible. The change was designed to reduce the pressure of housing affordability in the 2017-18 budget.
PASSPORT COSTS - The cost of a 10-year Australian passport increases by $5, to $282. A five-year passport has gone up $3, to $142.
HEALTH - Three medications, including a groundbreaking cancer fighter, will be added to the Pharmaceutical Benefit Scheme (PBS), slashing their price by thousands of dollars. Carfilzomib is used to treat multiple myeloma sufferers, while Alectinib is prescribed for lung cancer patients and Mannitol for those with cystic fibrosis. Around 1130 people are expected to benefit from the extra coverage, which comes at a total cost of more than $300 million. Instead of $138,000, multiple myeloma patients for example will be charged $39.50 a script, while concession holders will pay just $6.40. Defence veterans will be given greater access to antibiotics as well as heart disease and stroke medications through the Pharmaceutical Benefits Scheme The government will provide $5.7 million over four years to communities affected by contaminated water supplies following the use of potentially toxic firefighting foams at the Tindal RAAF Base in the NT
OVER-THE-COUNTER CODEINE GONE - From February 2018, codeine medicines Nurofen Plus, Panadeine, Mersyndol and Codral become available only by prescription. Pain Australia has urged people who rely on these medicines to speak with their doctor to find alternatives.
SUPERANNUATION - From July 1 2018, the government has introduced an incentive for over-65s to downsize their homes, and make super contributions up to $300,000, outside the usual non-concessional (after-tax) contributions cap PENSIONERS - From July 1 2018, to receive Age Pension or Disability Support Pension (DSP), a person will need: 10 continuous years of Australian residence including at least five years during their Australian working life, or 10 continuous years of Australian residence and proof they have not received activity tested income support for cumulative periods of five years or more, or 15 years of continuous Australian residence.
10. CHILD CARE - Parents get access to a New Child Care Package from July 2, 2018, where a new Child Care Subsidy (CCS), will replace the current Child Care Benefit and Child Care Rebate. The CCS will be supported by the Child Care Safety Net and is designed to be simpler than the current multi-payment system, and is expected to offer more help to low and middle income families. To be eligible to receive CCS for a child, the child must be aged 13 years or under and not attending secondary school. The child also must meet immunisation requirements and the parent or carer must meet residency requirements.