Budget 2026: what it means for you

15 May 2026

The Federal Budget landed this month. While not everything will impact your day-to-day straight away, if you’re working in pharmacy, there are a few changes worth paying attention to; especially around cost of living, PBS funding, and healthcare demand. 

Some changes are new. Others continue reforms already in place. Here’s a clear, no-fuss look at what matters most for you, your work, and your financial future. 

Cost-of-living relief 

If things have been feeling tight lately, you’re not alone. This year’s budget includes measures like tax cuts and energy bill relief aimed to give low- to middle-income earners a little more breathing room in the weekly budget. It may not be life-changing, but it’s something.  

An increase to minimum wage rates will also take effect in the next tax year, and from 2027 every worker will get $250 annual tax relief.   

PBS and pharmacy funding 

There were no major new changes to the PBS (Pharmaceutical Benefits Scheme), though funding remains strong, with more medicines added through a $5.9 billion investment, including treatments for cystic fibrosis, chronic kidney disease and various cancers. 

Changes from previous years (including 60-day dispensing and pricing adjustments) are designed to reduce costs for patients and ease pressure on the broader health system. These remain in place and continue to impact life inside the pharmacy.  

NDIS tightened 

One of the main talking points in this budget is cuts to NDIS benefits, aimed at reducing escalating NDIS costs and limiting the misuse of funds.  

A new ‘needs assessment’ process led by a trained assessor will replace the current reliance on allied health reports. Changes to funding and eligibility could lead to fewer NDIS-funded prescriptions in some areas, and reduced demand for certain support-related products. Community pharmacies with high NDIS engagement may see less foot traffic.  

However, families with kids under 8 who have autism or developmental delays will benefit from a new $2billion 'Thriving Kids' program rolling out from October, while remaining eligible for NDIS.  

Housing affordability 

Housing affordability continues to be a challenge, especially for people early in their career. 

This year’s budget really focused on housing and enabling more people to get onto the property ladder. Basically, it targeted many of the tax perks that landlords use to reduce their tax bills, making it less profitable for them to own several houses in the future.  

These measures aim to reduce the number of landlords snapping up existing properties, making them more available for buyers and slowing the crazy price growth seen in recent years.  

Key takeouts  

You might see a little extra support in your day-to-day expenses, but big changes take time.   

It’s still important to stay engaged with your long-term financial wellbeing, including super, which offers more stability amid these other changes 

While you’re supporting communities and families every day, it’s worth knowing what support is there for you, too.  

If you’d like help understanding how these changes could impact your super or financial future, GuildSuper is here to support you - every step of the way.