Australia has said goodbye to 2020 and welcomed 2021 with a shock given to the students. There were several benefits that the Australian citizens availed during the tough days of the pandemic. Putting a full stop to all those leisure time and the grants, the Australian Government has formed new policies and rules to get back the lost economy of 2020 in the coming year of 2021. Is this year going to bring forth the citizen with the Covid-19 vaccine or this is going to be a tougher year - know what’s new this year has to offer.
One of the long-standing practices is that the Australian Government has set 1 January as the starting date for a variety of changes to fees, legislation, and benefits. Here are the six improvements to watch for:
Co-payments for medications specified in the Pharmaceutical Benefits Scheme (PBS) usually rise on 1 January of each year on the basis of the consumer price index (CPI) movements. The government says that the overall co-payment for general patients will be $41.30 per PBS script in 2021, a rise of 30c (or 0.7%) from the 2020 standard level.
However, the health minister, Greg Hunt, says that the PBS co-payment for concession cardholders will remain limited to $6.60 per script in 2021. “The prote net limit for the cardholder allowance may also be per year $316.80. “When the concession card holders have a net limit of safety, they will be entitled to a safety net card and the rest will receive peripheral blood smear medication for 2021." New peripheral blood smears. The list of the drug can also be seen in the New Year, such as Darzalex Multiple myeloma - as a treatment for patients with plasma cell cancer." The govt. Australians living with severe chronic psoriasis will benefit from the Otezla peripheral blood smear list.
The new and controversial “job-ready graduates” package as, the Australian government has announced, will take an upshot in January, where various courses will face an increase in fees in universities. For instance, students in arts and law disciplines will pay 113% more money than the ex-year students.
Fees for other fields like science– will decrease in the bid to allow Australians to study in the areas related to skills needs as the economy of the country recovers from the Covid-19 pandemic shock. The changes in the fee are for the new students, rather than for those in the middle of their courses.
Critics argue that the package reflects, on average, a decrease in the allocation of the commonwealth to university degrees, shifting some of the burdens on students. The Government says it will make additional money for 12,000 commonwealth-supported places in the national focus areas in 2021.
The Morrison Government notes that from 1 January, it will raise fees for the evaluation of foreign investment proposals to "ensure that foreign investors, not Australian taxpayers, bear the costs of managing the foreign investment system." Budget papers state the fee revision would deliver $55 million to the budget for overhaul a decade. The fee reforms come as the government has also rigidified the rules – including the addition of a new national interest test – against the context of concerns about future Chinese investment in sensitive national security firms.
China has previously accused the Australian Government of rejecting foreign investment plans on opaque national security grounds – a demur that we are most probably hear more as friction spread over 2021 between the two countries.
The Government's amendments to the rules on insolvency will also carry out on 1 January. The reforms could enable small businesses that are in financial difficulty as a result of the Covid recession but are still deemed viable to stay in the hands of their owners rather than to be put in the administration in the form of a new debt restructuring process.
The Treasurer, Josh Frydenberg, says the amendments build on the core features of the U.S. Insolvency Model in Chapter 11, allowing companies the flexibility to restructure."Appeals to bankrupt companies below $ 1 million - hiding about 76% of bankruptcies nowadays, of which 20% is below 98%," he said.
Although companies will gain increased stability as a result of the insolvency reforms, more than two million welfare recipients are likely to face a major impact on their incomes as of 1 January, with the government slashing the coronavirus supplement by $100 half a month.
Recipients of the payment of jobseekers and many other welfare benefits had their salaries raised as part of the emergency measures implemented at the beginning of the pandemic which was later extended. But the government has maintained that the measure will continue to be taped.
As of 1 January, about 1.3 million people on the job-seeker payment will get a ground rate of $715.70 half a month, down from about $1,115 at the peak of the pandemic. Three days later, the rate of the worker's wage subsidies would also be decreased.
As of 1 January, the federal government is prohibiting the export of some forms of unprocessed waste abroad – including tires, plastics, glass, and paper. Official figures indicate that about 7% of all the waste produced in Australia was exported in 2019, as illustrated by The Conversation. Concerns have been raised about the effects of shipments of unprocessed waste offshore, and import bans have been enforced by countries like China and Malaysia.
The Government notes that the Department of Water, Environment, and Agriculture will administer declaration scheme and licensing, enabling the export of waste materials "where it can be demonstrated that sufficient processing has taken place prior to export before harm to the environment or human health abroad."
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