All the major payment bumps and new regulations planned for January 1

Students, carers and single parents will be among one million social security recipients to see their payments increase with indexation.

The payments are set to rise by 6.1 per cent, ensuring social security recipients maintain purchasing power as cost of living rises bite.

Australia's age pension, indexed in September, saw recipients receive a 4 per cent increase, falling short of the 6.8 per cent inflation rate tracked by the Australian Bureau of Statistics during that time.

Single parents on youth allowance can expect to receive $720.40 per fortnight, up from $679, from January 1.

A comprehensive breakdown of payment changes is found here.

Asset testing for some social security recipients, including low income healthcare cardholders, will also change on January 1.

Homeowners will only be required to declare any remaining profits after buying a new primary home, meaning any renovation costs to the new home are deducted before profits are calculated.

IN OTHER NEWS:

The Pharmaceutical Benefit Scheme (PBS) will reduce the maximum cost of medicine from $42.50 to $30, a drop of 29 per cent.

This is the first co-payment decrease the Australian Medicare consumer has seen in 75 years, with patients using two scripts per month expected to save up to $300 per year.

However, patients will need a referral to access free PCR COVID-19 tests from January 1.

Some state-run PCR centres will continue to offer free tests, but limitations apply and high risk patients with co-morbidities will be prioritised.

January 1 will also see more transparency in home care pricing, designed to make pricing comparisons easier for patients and their families.

Limits will apply to some charges included in home care packages, including exit fees and additional charges for third party good and services.

Victoria and NSW state governments have announced $9 billion in funding over the next decade to support early childhood education.

Subsidies up to $2500 for three and four year old children in kindergarten will begin for registered parents from the beginning of the first semester in 2023.

Four year old kinder will now include 30 hours per week of education, up from 15, as part of the free program.

A statement by premiers Andrews and Perrottet in July 2022 said the scheme will not be a "short-term fix."

"Instead, it will take years of collaborative, hard work to get it right," they said.

The federal government is also expected to launch a $5.4 billion childcare plan in July 2023.

Child safety standards, set out in Victoria by the Commission for Children and Young People, will be imposed with greater force in organisations and businesses.

More inspections and stronger penalties are set to begin from January 1.

The child safety standards in Victoria includes a list of 11 guidelines focused on safety and respect for children.

For example, the first guideline dictates that organisations should establish a culturally safe environment where the "diverse and unique identities Aboriginal children and young people are respected and valued".

Non-compliance may be met with increased penalties, including publishing the details of organisations' wrong-doing, and businesses may not receive notification before they are inspected.

Businesses and organisations expected to be targeted include religious centres, transport services, youth health and entertainment services as well as education.

Schools in South Australia will ban mobile phone use for children, with schools offering exemptions for children with medical or translation needs.

South Australia follows the Northern Territory, Victoria and Western Australia in this move, encouraging kids to leave their phones at home.