There's the return of the pensioner concession cards to those who lost their age pension after the tightening of the assets test at the start of this year.

Then there's the axing, from June 30 this year, of the 2 per cent Temporary Debt Repair Levy on those who earn more than $180,000 a year.

But, from July 1, 2019, everyone will be paying a Medicare Levy of 2.5 per cent instead of the 2 per cent now.

And the shading out of the freeze on Medicare rebates to doctors and putting more drugs on the pharmaceutical benefits scheme are good for our health.

From 1 July, 2017, first-home buyers will get help in the form of tax breaks on savings that are put towards a deposit.

Housing affordability

The First Home Super Saver Scheme allows first timers to make voluntary contributions into super than can be withdrawn to pay a deposit on a property.

Contributions under the scheme can be made through salary sacrifice or personal deductible contributions.

Contributions can start from July 1, but are limited to $30,000, with no more than $15,000 in any one year.

These amounts are included in the $25,000 concessional cap that applies to everyone from July 1 and which also includes the 9.5 per cent compulsory super.

When a first timer buys a property (from July 1, 2018) they can withdraw the contributions as well as the earnings.

"Deemed" earnings will be calculated by the Tax Office based on the 90-day bank bill rate plus 3 percentage points.

The savings inside super that are used by a first-time buyer as a deposit benefit from lower taxes than if the money was saved outside of super.

Tim Lawless, the head of research at CoreLogic, says it is questionable how much it will help potential first timers in Sydney and Melbourne, where prices are particularly high, but it "should assist first-home buyers elsewhere".

Downsizing

From 1 July, 2018, a homeowner who is 65 or older will be able to make non-concessional superannuation contributions up to $300,000 using the proceeds from the sale of a home.

This measure will apply to a principal place of residence that is held for a minimum of 10 years.

That will be in excess of the limits for non-concessional contributions that apply from July 1 this year of $100,000 a year or $300,000 over three years.

Those with $1.6 million in superannuation, the new limit, from July 1 on tax-free super in the retirement phase, will be able to make further non-concessional contributions from the proceeds of downsizing.

Jonathan Philpot, a partner at HLB Mann Judd Wealth Management NSW, says this measure may have limited appeal as some people could no longer be eligible for the age pension or could see their part pension reduced.

Financial complaints

The government will establish a one-stop financial complaints service called Australian Financial Complaints Authority, which will be running from July 1, 2018.

It will replace the Financial Ombudsman Service (FOS), the Credits and Investments Ombudsman and the Superannuation Complaints Tribunal.

The one-stop complaints shop will have increased claims and compensation limits.

It will be able to process claims of losses of up to $1 million and can make compensation of up to $500,000 on most non-superannuation financial disputes.

FOS, which covers complaints against banks, insurers and financial advisers, among others, accepts claims of losses of up to $500,000 and has a compensation cap of $309,000.

There are higher limits for small businesses in dispute with financial service providers.

Superannuation claims and compensation will continue to be unlimited.