The concrete thing you can actually rely on right now is the $30 weekly cap - that's the policy that's been formally committed to, and it's what would start if Labor wins. the free travel stuff floating around is more aspirational politics at this stage, something activists and certain Labor figures keep pushing for but hasn't made it into official party platform as a locked-in promise. So when deciding whether this affects your budget, work with the $30 figure, not the free option.
From what i've seen locally, the difference between what people pay now and what $30 would mean varies wildly depending on where you live and how often you travel. Someone doing a daily commute from the outer suburbs into the city might already be closer to that cap or even over it, making the change modest. But for people doing regular trips across zones or combining multiple transport types, hitting $30 per week right now isn't the norm - so yes, it would be noticeably cheaper for many folks.
The timing question is harder to pin down because election outcomes matter, and even if Labor commits, implementation takes time. Budget processes, system updates to ticketing infrastructure - these things don't happen overnight. as others mentioned, the $30 is the real policy anchor here, and the free travel conversation feels more like it's playing out separately in advocacy spaces rather than being part of any near-term rollout plan. If you need to plan your transport budget, assume the $30 cap is what's actually on the table.