Tuesday’s NSW Budget 2022 has announced some big funding boosts in lots of areas.
Here’s what’s of particular interest to pensioners and retirees.
In terms of housing, it’s good news if you’re looking to buy a home.
The new $780 million-dollar shared equity scheme trial for select groups, includes single people over 50.
Similar to Federal Labor’s Help to Buy scheme, the NSW Government will contribute 40 per cent of the cost of a new home and 30 per cent for an existing home with buyers only needing a minimum 2 per cent deposit.
Combined with the option to pay property tax rather than larger upfront stamp duty payments, buying a house is much more accessible.
However, there weren’t any big announcements for those unable to afford their own house.
Despite increasing wait-lists, little was announced to ease social housing pressures with only $37 million committed to provide 120 new social housing dwellings for rough sleepers as part of the Together Home program.
There was also a $300 million contribution to maintaining existing social housing properties, but community housing advocates were hoping for much more.
As part of the record $33 billion spend on healthcare, regional areas will see a big improvement with a $210 million investment in regional health.
On top of this a $34.3 million boost to the Isolated Patients Travel and Accommodation Scheme (IPTAAS) will help those needing to travel at least 100kms each way or 200kms a week to receive medical treatments.
Travel, for both medical and recreational purposes, will also be covered by Commonwealth Home Support Program with an extra $42.4 million allocated.
Further investments in health include $234.1 million to NSW ambulance for more workers and 30 new ambulance stations to address growing problems with overworked staff and lengthy wait times.
There was also a much needed $32.7 million boost to palliative care.
For general cost of living relief, funding for existing water and energy rebates as well as pensioner council rate concessions through Service NSW will continue.
The Energy Bill Buster program, costing $128 million over 8 years, is also on offer to help with more long-term savings.
Under this program you can get up to 10 years of energy rebates as a lump sum to install solar panels or energy efficient appliances in your home to combat some of the rising energy costs that will continue over the coming months.
Finally, while OPAL fares will rise from 4 July, the Pensioner Excursion Fare will remain steady at $2.50.
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