Engineered stone is commonly used in kitchen benchtops and workers who use the product have been left at risk of developing the incurable and deadly lung disease silicosis.
A nationwide ban came into effect on Monday after federal, state and territory workplace ministers reached an agreement in December.
"Our union has stopped the asbestos of the 2020s in its tracks," CFMEU national secretary Zach Smith said.
"This ban will save lives and protect workers' families and friends from enduring more senseless deaths."
The CFMEU claimed credit for bringing about the ban, saying it was the direct result of a national pressure campaign that targeted suppliers like Bunnings.
Almost 600,000 workers were potentially being exposed to the silica dust contained in engineered stone, according to a Lung Foundation Australia estimate in 2023.
Mr Smith highlighted the advocacy work of Kyle Godwin, a former stonemason who was diagnosed with silicosis at age 33 after years of cutting engineered stone benchtops and was the face of CFMEU's advertising blitz.
"No individual deserves more credit," Mr Smith said.
"While this is undoubtedly a day to celebrate, I want to send a clear warning that the CFMEU will be watching like hawks for any company, employer or individual trying to get around this ban."
A company behind the installation of benchtops in homes throughout NSW in May became the first in the state to be found guilty of a health and safety breach involving silica dust.
Edstein Creative, a stone supplier operating out of northern NSW, was fined $375,000.
Vapes will only be available over the counter at pharmacies. (Dean Lewins/AAP PHOTOS)
The federal government is also cracking down on vapes, restricting their sale to adults at pharmacies from Monday.
Stage three tax cuts have also come into effect, providing the average taxpayer with a benefit of $1888 a year, or $36 a week.
Amid concerns about stickier-than-expected inflation and persistent cost pressures, Treasurer Jim Chalmers on Sunday conceded there was "always an element of uncertainty" about economic forecasting.
"Our strategy here is to provide substantial, meaningful and responsible cost‑of‑living relief at the same time as we fight inflation and get the budget in better nick without smashing the economy," he said.
Other changes that have been enacted in the new financial year include a rise in the superannuation guarantee rate to 11.5 per cent, cheaper medicines and energy rebates.
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