I am bemused by the fact that only twelve months ago, we had a "budget black hole" and the entire nation was going to have to pitch in with "heavy lifting" to get us out. A year later and all is sweetness and light. This strikes me as a budget very much skewed to facilitate re-election.
Dead right Kfc
The black hole is still there and ever increasing with our interest but the budget deficit has been spread out over a number of years which is what should have happened in the first place .... and they should get our Royal Politicians and ex Politicians to do come of the lifting.
What is the $20,000 tax break?
Businesses with an annual turnover under $2 million can claim immediate tax deductions for as many sub-$20,000 purchases as they make between 7:30pm on budget night and June 30, 2017, rather than having to claim those purchases as deductions spread over several years.
This is a huge increase from the current instant asset write-off threshold of $1,000.
The Federal Government has allocated $1.75 billion to fund the scheme, which will run for the next two years.
http://www.abc.net.au/news/2015-05-13/budget-2015-small-business-tax-break-explained/6466066
That sounds like double dipping to me ie for as many sub-$20,000 purchases as they make. Ripe for rorting I would suggest because is the computer purchased for business or the home ? Name any product that can be used for domestic as well as business and put it under business. Still it requires a purchase to be made so it would be a stimulus and thats what it amounts to a stimulus package. At 1.7 billion I would think it will soon require more funds or be closed.
The child care package is a funny one as it does not start for two years. Why would that be and do the cuts they claim are needed to fund it come in in two years or before ? Family benefit A or B , not sure which one is targeted, forgot.
I can't help but feel cynical about Hockey's declaration that they will get multinationals to stop cheating on tax. How do they mean to do this? It was not spelled out. If it simply comes down to changing the tax regulations why wasn't it done earlier? I think he was just delivering empty words that the public wants to hear and I won't believe it till I see it in action.
I am Cynical about the lot of them Robi
Cynical about a lot of it Robi, no GP co-payment but "frozen" rebates will mean GPs will have to start charging more to remain viable, paying Nannys OK but where are the jobs to get people back into the workplace anyway? Multinationals will miraculously start paying tax without the necessary legislation to make them do so do they honestly think we believe that? As someone said this is a budget to soften up the Voters so the present "Leaders" get to keep their jobs.
I agree Viv....politicians are extremely concerned about jobs.....just not ours.
Nothing on the header...."8 Steps to Budget Reform" ....was enacted.
6 of those 8 suggestions would probably impact personally on many of our politicians and most definitely on Hockey and his wife. I heard yesterday that Joe Hockey's wife bought a house in Canberra that he rents courtesy of the tax payers when there. I wonder how much rent he pays her?
Viv quote: "Or just put the nasty bits thro' Parliament hoping no one will notice."
So true. They have already done lots of sneaky things that not many know about. For example, they have frozen the Medicare rebate to doctors and other health professionals which has forced providers to increase their fees. We will all start paying more to go to the doctor, optometrist, physiotherapist etc because of the freeze.
They have stopped funding Landcare to the tune of $12 million countrywide. Only the wonderful volunteers who work for Landcare know about that.
They have stopped funding the Redfern Aboriginal Legal Centre and many women's refuges. They have removed funds from hundreds of services but we don't hear about it. And yet they give funds to a Jewish church as Abby mentioned above, and to provide chaplains in schools which no-one wants, and to a Danish fossil fuel spruiker (which fortunately the WA university refused). Sneaky is the name of the game for this lot of Abbott ratbags.