Brace yourself: Energy, internet and insurance price rises are coming
Australians have been warned to brace for heftier household bills due to begin next month – or, in some instances, have already begun.
Although inflation has been steadily slowing since its peak in December 2022, pushed up by COVID-induced global supply chain knots and Russia's war on Ukraine, consumers will have to fork out more for essential expenses such as electricity, phone and internet bills, with energy and telco giants signalling price rises to begin on July 1.
'The financial year definitely aligns with significant price changes, but for different reasons,' said Finder personal finance spokesperson Sarah Megginson.
'For many businesses, the end of the financial year is a time to finalise their budgets, review their operational costs from the previous year, and forecast for the next 12 months. If their costs have increased, there's a good chance they're going to pass those increased costs on to customers.'
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But retail industry consultant Trent Rigby said price rises were becoming less tied to these points of the year.
'I think previously, with customers, it was ingrained in their minds that it was a new year, or a new financial year, so it was probably easier to get that price rise through,' said Rigby.
'One thing we've noticed working with retailers is there's no methodology behind it. We're just seeing price rises throughout the year.'
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7NEWS
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Webjet cops $9 million fine for misleading Australian travellers after ACCC takes action in Federal Court
Webjet has been fined $9 million for misleading Australians about the price of flights and booking confirmations. The order was handed down by the Federal Court following an investigation by the Australian Competition and Consumer Commission (ACCC). Webjet, a popular online travel agency, admitted it had excluded compulsory fees in airfare ads posted on its website, in emails and social media posts between 2018 and 2023. It also conceded that between 2019 and 2024 it misled 118 customers by confirming flight bookings which had not actually been locked away. 'Webjet later asked for additional payments of up to $2120 from travellers to complete the booking,' the ACCC said on Monday, adding consumers had since been refunded. 'Serious breach' The consumer watchdog started asking questions after a customer complained about a flight advertised 'from $18' ultimately costing three times that once Webjet tacked on compulsory fees. Webjet's extra charges included a 'servicing fee' and 'booking price guarantee', and cost travellers as much as $54.90 extra per booking, depending on the destination. The agency's fees accounted for 36 per cent of its total revenue between November 2018 and November 2023, the ACCC said. 'We took this case because we considered that Webjet used misleading pricing by excluding or not adequately disclosing compulsory fees in its ads,' ACCC chair Gina Cass-Gottlieb said. 'Seeking to lure in customers with prices that don't tell the whole story is a serious breach of the Australian Consumer Law.' The consumer watchdog alleged that while some of Webjet's advertisements and platforms had details about the fees, others either made users scroll down to the fine print or did not have any indication at all. 'Retailers must ensure their advertised prices are accurate,' Cass-Gottlieb said. 'They should clearly disclose additional fees and charges.' The ACCC said Webjet had cooperated during proceedings, including admitting liability, after it took action in the Federal Court. 'The parties reached agreement over the proceedings in February 2025,' Webjet said in a statement on Monday. 'The Federal Court's approval formally disposes of the proceeding.'
The Advertiser
an hour ago
- The Advertiser
'Good day for patients': cheaper medicines on the way
Anthony Albanese says he still has his eye on cost-of-living pressures as a promised reduction in medicine costs nears fruition. As parliament resumed on Monday, the prime minister touted his government's promise to bring down the maximum amount Australians will pay on medicines on the Pharmaceutical Benefits Scheme from $31.60 to $25. The change to the PBS co-payment cap, which sets the maximum out-of-pocket costs pharmacists can charge customers for approved scripts, is set to be introduced to the House of Representatives on Wednesday. With the opposition signalling their support for the bill, it's likely to be waved through parliament in the coming weeks, with the changes due to take effect on pharmacy shelves from January 1, 2026. "Now, there's an old saying. Nothing comes down in price," Mr Albanese said in question time. "Well, this is coming down in price. Not just that, but we've frozen the cost of scripts for pensioners and concession card holders to just $7.70; not just for this term, but for the end of the decade. "Real cost-of-living relief, taking pressure off Australians and backing in Medicare for the future." Although the government has declared fixing stalled productivity growth as the priority of its second term, Mr Albanese and Treasurer Jim Chalmers reiterated their commitment to ease cost-of-living pressures, with many Australians still feeling the after-effects of high inflation. "Cost-of-living relief is at the core of everything we do," Dr Chalmers said. "It's the same when it comes to legislation to protect penalty rates, slash student debt, the medicines policy we're introducing this week as well, the minimum wage, paid parental leave, the super guarantee, cheaper batteries, prac payments. "All of this is about recognising that even though we've made that progress in the economy, there's more to do to help ease the cost of living." First promised by the Albanese government ahead of the May election, the cheaper medicines bill has been forecast to cost the budget $690 million over four years. It marks the second cut to the cap introduced by the Albanese government in three years, after it slashed the maximum price of PBS prescriptions from $42.50 to $30 in 2023. Without the government's interventions, some 20 million Australians would have been paying up to $50 for essential medicines like insulin, blood thinners and osteoporosis injections, said Trent Twomey, national president of the Pharmacy Guild of Australia. "Indeed, it is a good day for patients," he told reporters. The government's move to strengthen the PBS comes amid concerns the scheme will be targeted as a bargaining chip in US trade negotiations to ward off threatened pharmaceutical tariffs. The US pharmaceutical lobby has been pushing President Donald Trump to place tariffs on Australian pharmaceutical imports in retaliation to the "egregious and discriminatory" PBS. Health Minister Mark Butler said the government's position on the PBS was "unshakeable". "We won't be negotiating the elements of our PBS with any other country. It's one of the great cornerstones of Australia's healthcare system," he said. Australia eased its biosecurity restrictions on US beef imports last week, but the prime minister has denied the move was linked to trade talks, noting it followed a 10-year review of Australian biosecurity rules. Parliamentarians also formally paid their respects to Pope Francis, with Mr Albanese and Opposition Leader Sussan Ley delivering condolence motions to the late pontiff, who died in April. "I am not a Catholic, but I found inspiration in the way Pope Francis lived out his faith with humility, strength and compassion," Ms Ley said. "His example was a powerful reminder that service to others is at the heart of everything we do, especially in public life." Anthony Albanese says he still has his eye on cost-of-living pressures as a promised reduction in medicine costs nears fruition. As parliament resumed on Monday, the prime minister touted his government's promise to bring down the maximum amount Australians will pay on medicines on the Pharmaceutical Benefits Scheme from $31.60 to $25. The change to the PBS co-payment cap, which sets the maximum out-of-pocket costs pharmacists can charge customers for approved scripts, is set to be introduced to the House of Representatives on Wednesday. With the opposition signalling their support for the bill, it's likely to be waved through parliament in the coming weeks, with the changes due to take effect on pharmacy shelves from January 1, 2026. "Now, there's an old saying. Nothing comes down in price," Mr Albanese said in question time. "Well, this is coming down in price. Not just that, but we've frozen the cost of scripts for pensioners and concession card holders to just $7.70; not just for this term, but for the end of the decade. "Real cost-of-living relief, taking pressure off Australians and backing in Medicare for the future." Although the government has declared fixing stalled productivity growth as the priority of its second term, Mr Albanese and Treasurer Jim Chalmers reiterated their commitment to ease cost-of-living pressures, with many Australians still feeling the after-effects of high inflation. "Cost-of-living relief is at the core of everything we do," Dr Chalmers said. "It's the same when it comes to legislation to protect penalty rates, slash student debt, the medicines policy we're introducing this week as well, the minimum wage, paid parental leave, the super guarantee, cheaper batteries, prac payments. "All of this is about recognising that even though we've made that progress in the economy, there's more to do to help ease the cost of living." First promised by the Albanese government ahead of the May election, the cheaper medicines bill has been forecast to cost the budget $690 million over four years. It marks the second cut to the cap introduced by the Albanese government in three years, after it slashed the maximum price of PBS prescriptions from $42.50 to $30 in 2023. Without the government's interventions, some 20 million Australians would have been paying up to $50 for essential medicines like insulin, blood thinners and osteoporosis injections, said Trent Twomey, national president of the Pharmacy Guild of Australia. "Indeed, it is a good day for patients," he told reporters. The government's move to strengthen the PBS comes amid concerns the scheme will be targeted as a bargaining chip in US trade negotiations to ward off threatened pharmaceutical tariffs. The US pharmaceutical lobby has been pushing President Donald Trump to place tariffs on Australian pharmaceutical imports in retaliation to the "egregious and discriminatory" PBS. Health Minister Mark Butler said the government's position on the PBS was "unshakeable". "We won't be negotiating the elements of our PBS with any other country. It's one of the great cornerstones of Australia's healthcare system," he said. Australia eased its biosecurity restrictions on US beef imports last week, but the prime minister has denied the move was linked to trade talks, noting it followed a 10-year review of Australian biosecurity rules. Parliamentarians also formally paid their respects to Pope Francis, with Mr Albanese and Opposition Leader Sussan Ley delivering condolence motions to the late pontiff, who died in April. "I am not a Catholic, but I found inspiration in the way Pope Francis lived out his faith with humility, strength and compassion," Ms Ley said. "His example was a powerful reminder that service to others is at the heart of everything we do, especially in public life." Anthony Albanese says he still has his eye on cost-of-living pressures as a promised reduction in medicine costs nears fruition. As parliament resumed on Monday, the prime minister touted his government's promise to bring down the maximum amount Australians will pay on medicines on the Pharmaceutical Benefits Scheme from $31.60 to $25. The change to the PBS co-payment cap, which sets the maximum out-of-pocket costs pharmacists can charge customers for approved scripts, is set to be introduced to the House of Representatives on Wednesday. With the opposition signalling their support for the bill, it's likely to be waved through parliament in the coming weeks, with the changes due to take effect on pharmacy shelves from January 1, 2026. "Now, there's an old saying. Nothing comes down in price," Mr Albanese said in question time. "Well, this is coming down in price. Not just that, but we've frozen the cost of scripts for pensioners and concession card holders to just $7.70; not just for this term, but for the end of the decade. "Real cost-of-living relief, taking pressure off Australians and backing in Medicare for the future." Although the government has declared fixing stalled productivity growth as the priority of its second term, Mr Albanese and Treasurer Jim Chalmers reiterated their commitment to ease cost-of-living pressures, with many Australians still feeling the after-effects of high inflation. "Cost-of-living relief is at the core of everything we do," Dr Chalmers said. "It's the same when it comes to legislation to protect penalty rates, slash student debt, the medicines policy we're introducing this week as well, the minimum wage, paid parental leave, the super guarantee, cheaper batteries, prac payments. "All of this is about recognising that even though we've made that progress in the economy, there's more to do to help ease the cost of living." First promised by the Albanese government ahead of the May election, the cheaper medicines bill has been forecast to cost the budget $690 million over four years. It marks the second cut to the cap introduced by the Albanese government in three years, after it slashed the maximum price of PBS prescriptions from $42.50 to $30 in 2023. Without the government's interventions, some 20 million Australians would have been paying up to $50 for essential medicines like insulin, blood thinners and osteoporosis injections, said Trent Twomey, national president of the Pharmacy Guild of Australia. "Indeed, it is a good day for patients," he told reporters. The government's move to strengthen the PBS comes amid concerns the scheme will be targeted as a bargaining chip in US trade negotiations to ward off threatened pharmaceutical tariffs. The US pharmaceutical lobby has been pushing President Donald Trump to place tariffs on Australian pharmaceutical imports in retaliation to the "egregious and discriminatory" PBS. Health Minister Mark Butler said the government's position on the PBS was "unshakeable". "We won't be negotiating the elements of our PBS with any other country. It's one of the great cornerstones of Australia's healthcare system," he said. Australia eased its biosecurity restrictions on US beef imports last week, but the prime minister has denied the move was linked to trade talks, noting it followed a 10-year review of Australian biosecurity rules. Parliamentarians also formally paid their respects to Pope Francis, with Mr Albanese and Opposition Leader Sussan Ley delivering condolence motions to the late pontiff, who died in April. "I am not a Catholic, but I found inspiration in the way Pope Francis lived out his faith with humility, strength and compassion," Ms Ley said. "His example was a powerful reminder that service to others is at the heart of everything we do, especially in public life." Anthony Albanese says he still has his eye on cost-of-living pressures as a promised reduction in medicine costs nears fruition. As parliament resumed on Monday, the prime minister touted his government's promise to bring down the maximum amount Australians will pay on medicines on the Pharmaceutical Benefits Scheme from $31.60 to $25. The change to the PBS co-payment cap, which sets the maximum out-of-pocket costs pharmacists can charge customers for approved scripts, is set to be introduced to the House of Representatives on Wednesday. With the opposition signalling their support for the bill, it's likely to be waved through parliament in the coming weeks, with the changes due to take effect on pharmacy shelves from January 1, 2026. "Now, there's an old saying. Nothing comes down in price," Mr Albanese said in question time. "Well, this is coming down in price. Not just that, but we've frozen the cost of scripts for pensioners and concession card holders to just $7.70; not just for this term, but for the end of the decade. "Real cost-of-living relief, taking pressure off Australians and backing in Medicare for the future." Although the government has declared fixing stalled productivity growth as the priority of its second term, Mr Albanese and Treasurer Jim Chalmers reiterated their commitment to ease cost-of-living pressures, with many Australians still feeling the after-effects of high inflation. "Cost-of-living relief is at the core of everything we do," Dr Chalmers said. "It's the same when it comes to legislation to protect penalty rates, slash student debt, the medicines policy we're introducing this week as well, the minimum wage, paid parental leave, the super guarantee, cheaper batteries, prac payments. "All of this is about recognising that even though we've made that progress in the economy, there's more to do to help ease the cost of living." First promised by the Albanese government ahead of the May election, the cheaper medicines bill has been forecast to cost the budget $690 million over four years. It marks the second cut to the cap introduced by the Albanese government in three years, after it slashed the maximum price of PBS prescriptions from $42.50 to $30 in 2023. Without the government's interventions, some 20 million Australians would have been paying up to $50 for essential medicines like insulin, blood thinners and osteoporosis injections, said Trent Twomey, national president of the Pharmacy Guild of Australia. "Indeed, it is a good day for patients," he told reporters. The government's move to strengthen the PBS comes amid concerns the scheme will be targeted as a bargaining chip in US trade negotiations to ward off threatened pharmaceutical tariffs. The US pharmaceutical lobby has been pushing President Donald Trump to place tariffs on Australian pharmaceutical imports in retaliation to the "egregious and discriminatory" PBS. Health Minister Mark Butler said the government's position on the PBS was "unshakeable". "We won't be negotiating the elements of our PBS with any other country. It's one of the great cornerstones of Australia's healthcare system," he said. Australia eased its biosecurity restrictions on US beef imports last week, but the prime minister has denied the move was linked to trade talks, noting it followed a 10-year review of Australian biosecurity rules. Parliamentarians also formally paid their respects to Pope Francis, with Mr Albanese and Opposition Leader Sussan Ley delivering condolence motions to the late pontiff, who died in April. "I am not a Catholic, but I found inspiration in the way Pope Francis lived out his faith with humility, strength and compassion," Ms Ley said. "His example was a powerful reminder that service to others is at the heart of everything we do, especially in public life."
AU Financial Review
2 hours ago
- AU Financial Review
ATO cuts tax penalty waiver approval rate from 90pc to 70pc
The Tax Office has revealed that it now approves about 70 per cent of taxpayer requests to have tax penalties waived, down from a COVID-era approval rate of more than 90 per cent. A spokesperson for the ATO said the agency had this year launched a review into its process for granting full or partial penalty waivers 'to ensure consistency in decision-making'. Taxation Ombudsman Ruth Owen is also reviewing the process and will report back by January 2026.
