Tax cuts and water bill hike: how the financial year changes affect Bendigo

The federal government has announced a suite of "cost of living relief measures", which Member for Bendigo Lisa Chesters labelled as "responsible".

From July 1, every Australian taxpayer, including the 66,000 in the Bendigo electorate will receive a tax cut.

People with annual earnings of $72,753 will get a $1498 tax cut, while people earning $45,000 will get $804 tax back.

Australians earning over $120,000 will get a tax cut of $2679.

The federal government announced $300 in energy bill relief for every Australian household.

However, the rebate will come as $75 quarterly credits.

The 11,187 small businesses in the Bendigo electorate will get a $325 rebate.

Coliban Water customers are set to receive the largest bill increase in Victoria from July 1.

Water bills will increase by $91 from $1472 to $1562 in the 2024/25 financial year.

The next highest bill increase in Victoria is South Gippsland Water, with an increase of $54.

Managing director Damian Wells said Coliban Water needed to "strike the right balance" to be fair to customers and pay to upgrade ageing infrastructure.

"Many of the water and sewage assets we manage on behalf of our customers date back to the goldrush," he said.

"This infrastructure is ageing and is being increasingly tested by our region's growing population and the impacts of climate change.

"Just like the other things we own, our homes or cars, our water infrastructure requires regular investment and renewal.

Customers were contributing to the projects through the increased water bills, Mr Wells said.

The national minimum wage will rise by less than $1 from $23.23 to $24.10 an hour, translating to $47,621.60 a year based on a 38-hour working week.

A 10-year passport will cost almost $400, up about $50.

An application usually takes six weeks to be processed, but can be cut to within five business days with a fast-track $100 fee.

Vape sales will be restricted to pharmacies as part of as nationwide prohibition.

Pharmacists will be able to sell vapes with limited nicotine content over the counter, once they have a discussion with a person about health harms and confirm they're over 18.

Vapes will only be sold in plain packaging and without flavouring under the reforms, to protect children.

Paid parental leave will be extended from 20 weeks to 22 weeks and is expected to reach 26 weeks by July 2026.

That means eligible parents will be able to access up to 110 days or 22 weeks on a five-day work week.

The rate of paid parental leave will increase in line with the minimum wage to $915.91 per week.

- WITH AAP