NSW residents getting $350 cash boost

A group of Australians will get a $350 hip pocket bonus as one state government tries to ease cost of living pain.

Thousands off New South Wales residents will get a $350 cash boost, as the state government tries to ease cost of living pain.

The Chris Minns government handed down its first budget on Tuesday after its sweeping election win in March.

The budget included targeted cost of living support in the form of energy rebates of up to $350 for eligible households, with the initiative extended for another financial year from July 1, 2024.

The family energy rebate will increase from $180 to $250, the seniors energy rebate from $200 to $250 and the low-income household rebate and medical energy rebates will both be bumped from $285 to $350.

NSW has boosted energy rebates for eligible households. Picture: NCA NewsWire / Nicholas Eagar

NSW energy minister Penny Sharpe said the targeted support will help those most in need.

“The NSW Government is delivering on its promise to provide relief to families and other households who are finding it difficult to pay their energy bills,” she said.

“We understand many people are doing it tough. This additional funding will make a material difference to some of the most vulnerable members of our community.”

Energy Minister Penny Sharpe said the rebates will help NSW’s most vulnerable households. Picture: NCA NewsWire / Gaye Gerard

The budget predicted NSW’s bottom line will return to a modest surplus of $844 million in 2024-25, after a deficit of $7.8 billion this financial year.

A large portion of spending went towards pay increases for public service employees.

The NSW government committed $3.6 billion for pay rises of up to 4.5 per cent in the public sector.

Teachers, too, will get a raise, with the starting salary for first-year teachers jumping from $75,791 to $85,000, and from $113,042 to $122,100 for experienced teachers.

First homebuyers were also budget winners, with stamp duty waived for purchases of up to $800,000 and discounted for purchases between $800,000 and $1 million.

The parents of three-year-old children got their own cash boost, with $500 a year off their childcare bills, costing the budget $64 million over the next two years. The rebate will not be means tested and will be available to the families of every three-year-old child in a preschool program at a long daycare centre.

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Originally published as NSW residents getting $350 cash boost