Federal Budget 2019 overview

We’ve dug deep to find how Federal Budget 2019 will affect you.

Federal Budget 2019 overview

With its focus firmly on a May federal election, the Government has delivered a broad range of initiatives as a result of a $7.1 billion surplus. But if Australia’s ever-growing demographic of older Australians was hoping for some love, putting it bluntly – you missed out.

In our Federal Budget 2019 special edition tomorrow, Leon and Janelle explain the key announcements that affect you.

But to tide you over until then, here’s the lowdown.

  • YourLifeChoices members tell us repeatedly that their health is their No.1 concern. The Medicare freeze has not been lifted, but the Government is providing $187 million to increase patient rebates for 119 GP service items on the Medical Benefits Schedule (MBS) from 1 July 2019. Rebates for MRIs, X-rays and ultrasounds will be increased. Health checks for heart disease, Australia’s No.1 killer, will be added to the MBS.
  • With an overwhelming percentage of older Australians telling us they want to age at home – and thousands on a lengthy waiting list – the Government is providing $282 million for an additional 10,000 home-care packages.
  • The Budget provides $331 million for new and amended listings on the Pharmaceutical Benefits Scheme (PBS), including life-changing medicines to treat lung, bladder, kidney and skin cancers and leukaemia.
  • Changes to the work test are set to help pre-retirees pump up their superannuation balances.
  • An increase in the age limit for spouse contributions is aimed at helping close the gender super gap and provide Australians with greater flexibility to save for retirement.
  • Tax relief was promised and there’s provision for an extra $158 billion on top of the $144 billion in tax cuts in last year’s Personal Income Tax Plan. But who’s it for?
  • And, of course, there is the one-off, income-tax-exempt payment to more than 3.9 million Australians to assist with their next power bill.


So, while older Australians won’t be popping champagne corks, a few measures may ease cost-of-living pressures – for some. We provide all the detail around the key elements that could make a difference to your financial and emotional security. Keep an eye on your inbox tomorrow morning.





    COMMENTS

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    Janus
    2nd Apr 2019
    9:00pm
    Whilst waiting for the detail, so far there is NOTHING in this Budget that helps a self funded retiree. NOTHING. Well done you.

    In Frydenberg's speech, the environment, including climate change, got almost 30 seconds of attention. YAY!! Well done ScoMo. Tell that to the grandkids.
    MICK
    3rd Apr 2019
    8:56am
    THe so called Budget was a public relations exercise. An utter joke.
    Its already been poo pooed by experts for what it is: a dishonest con which is trying to buy votes, making (fanciful) predictions based on quicksand economic conditions and making promises which are never going to be kept.
    As the experts said international markets yawned and Labor has just gained more votes.
    What a waste of everybody's time!
    Mojobomber
    3rd Apr 2019
    10:38am
    I don't find the term Shiela offensive. Its as pretty archaic (Aussie?) term from the '60's and I, as a female, use it myself occasionally. I do however, roll my eyes at the creeping into our language of "Snowflake". So American. Give me a break.
    Mojobomber
    3rd Apr 2019
    10:42am
    I saw a picture of Julie Bishop at the Fudge It announcement last night. Looked like she was at a disco in her electric blue sequined sheath dress, dancing in front of her seat with her arms above her head. What's she so happy about? I thought she was leaving anyway.

    There was nothing in this Budget to crow about. Pensioners have yet again been ignored. Let's face it people, they hope we die sooner so they don't have to give us anything.
    Misty
    3rd Apr 2019
    12:34pm
    Maybe that is why Julie was dancing Mojobomber, glad she was leaving the LNP.
    maxchugg
    8th Apr 2019
    11:12am
    Of course the Liberal budget is a dishonest con, Shorten's plans, on the other hand, are impeccable.

    After Shorten wins, the outcome will almost certainly as described in "The New Statesman" many years ago:
    "Hand took hand in the golden land - and pigs flew overhead."
    maxchugg
    8th Apr 2019
    11:12am
    Of course the Liberal budget is a dishonest con, Shorten's plans, on the other hand, are impeccable.

    After Shorten wins, the outcome will almost certainly as described in "The New Statesman" many years ago:
    "Hand took hand in the golden land - and pigs flew overhead."
    Misty
    8th Apr 2019
    1:19pm
    Tongue in cheek maxchugg?.
    wabbo
    2nd Apr 2019
    9:05pm
    Got to be better than deliberately targeting self funded retirees under Labor.
    Karl Marx
    2nd Apr 2019
    10:26pm
    The ALP haven't replied yet. The LNP are dead ducks in the water & it shows.
    GeorgeM
    2nd Apr 2019
    11:50pm
    Both are clear that they don't want the vote of retirees - vote them both (and Greens) OUT! Maybe then they will start considering Retirees in future.
    Karl Marx
    2nd Apr 2019
    11:57pm
    GeorgeM that's the only way to vote. Put all 3 last & the sitting member dead last to ensure at least a new member in the electrate.
    JB
    4th Apr 2019
    6:18am
    Will watch with interest the Labor reply. I am a self funded retiree and don't feel targeted. I agree with their stance on Negative gearing. It will certainly stop politicians double dipping on negative gearing.
    Blinky
    4th Apr 2019
    4:11pm
    Neither Labor nor the Libs r too worried about helping pensioners n they seem to be happy to accept pensioners r a forsaken, low-class, poor people not even worth worrying about.
    I bet migrants n asylum seekers r better off than true blue Aussie pensioners as they get lots of handouts, housing, free health, e6c, etc.
    maxchugg
    8th Apr 2019
    10:56am
    JB, whether or not politicians are doing well out of negative gearing is something I don't know, I suspect not, that they would have better fish to fry, but simply don't know.

    What the attack on negative gearing will certainly do is to push the low income investors out of the system. There might be a temporary surge in prices this year as people attempt to qualify for negative gearing before the system closes down in December. Equally possible is that investors will avoid the market because they know that a drop in prices will occur when demand falls after December, so the wealthy will probably bide their time and wait for prices to fall.

    When negative gearing is gone rents will skyrocket because demand will outstrip supply and landlords will see the loss of negative gearing as a loss of income and raise their rents to compensate.
    maxchugg
    8th Apr 2019
    10:56am
    JB, whether or not politicians are doing well out of negative gearing is something I don't know, I suspect not, that they would have better fish to fry, but simply don't know.

    What the attack on negative gearing will certainly do is to push the low income investors out of the system. There might be a temporary surge in prices this year as people attempt to qualify for negative gearing before the system closes down in December. Equally possible is that investors will avoid the market because they know that a drop in prices will occur when demand falls after December, so the wealthy will probably bide their time and wait for prices to fall.

    When negative gearing is gone rents will skyrocket because demand will outstrip supply and landlords will see the loss of negative gearing as a loss of income and raise their rents to compensate.
    Misty
    8th Apr 2019
    1:30pm
    Who cares how many homes the wealthy will no longer invest in, the upside will be that thousands, if not millions of young Australians will be able to BUY THEIR VERY FIRST HOME.
    maxchugg
    8th Apr 2019
    2:47pm
    Misty, if I thought for one moment that abolition of negative gearing would make it easier for young Australians to buy their very first home, I would be in favour of the idea, but I am confident that the outcome will be unintended consequences.

    Unfortunately for people wanting to buy their first home and needing to save a deposit, the very last thing they need is further increases in rent which I believe will be the inevitable outcome of the abolition of negative gearing. The reason to care about how many homes the wealthy own is that when they have a monopoly over the rental market after the low income landlords have disappeared is that they can then charge what they like, and will.

    The number one problem in the cost of housing is the colossal expense involved in red tape. A relative has recently completed an extension to his house and discovered when the project was completed that the cost of the paperwork was almost the same as the building materials. If Labor is serious about making housing more affordable, that would be a better place to start looking, then maybe do something about the cost of land.
    maxchugg
    8th Apr 2019
    2:47pm
    Misty, if I thought for one moment that abolition of negative gearing would make it easier for young Australians to buy their very first home, I would be in favour of the idea, but I am confident that the outcome will be unintended consequences.

    Unfortunately for people wanting to buy their first home and needing to save a deposit, the very last thing they need is further increases in rent which I believe will be the inevitable outcome of the abolition of negative gearing. The reason to care about how many homes the wealthy own is that when they have a monopoly over the rental market after the low income landlords have disappeared is that they can then charge what they like, and will.

    The number one problem in the cost of housing is the colossal expense involved in red tape. A relative has recently completed an extension to his house and discovered when the project was completed that the cost of the paperwork was almost the same as the building materials. If Labor is serious about making housing more affordable, that would be a better place to start looking, then maybe do something about the cost of land.
    Misty
    8th Apr 2019
    4:03pm
    You could be right about the red tape maxchugg, I guess, rather then rent, if prices go up more young people will be staying home with their families.
    Paddington
    2nd Apr 2019
    9:14pm
    NDIS and the environment were basically ignored.
    People on very low incomes due to underemployment and low paid jobs were not considered.
    People on low incomes to pay the same rate of tax as those on much more.
    Minus a crystal ball a predicted surplus is only a dream especially further ahead than next year.
    It is a pre election budget for sure matching most of already made promises. Labor will go further for the really low paid.
    Labor will address the environment more effectively as well because LNP have the far right to thwart their endeavours in this regard.
    TREBOR
    2nd Apr 2019
    9:51pm
    Arrrh.. the old Sudden Surplus trick, eh, Laszlo?

    Before you get too fired up about how competent this government is - remember that a Budget is simply a forward estimate of what might happen - it is NOT money in the bank.

    Too many years of Budget Emergencies and Desperate Need To Cut Social Security (we don't have welfare here) and chop the guts out of pensioners and retirees (the real kind - not the parasites) and the unemployed (those bludgers) - and now we are supposed to believe TheTooth Fairy just left some thirty pieces of silver under Frydie's glass on the bedside table?

    True scenario:-

    a) The LNP gets back in and starts sorting out core fromnon-core promises and finds they cannot keep all their promises.

    b) Labor gets in and find that the LNP has somehow left huge Black Holes of Budget and built-in future deficits (including closed contracts from 'out-sourced' public service that cost more to get out of than to actually pursue), and Labor will not be able to keep their core and non-core promises either - apart from to the whining sheila's lobby and posting a new sheila as governor-general (a totally unnecessary position these days).
    Mamacrystal
    2nd Apr 2019
    10:08pm
    Trebor you could have put your arguments as you did (right or wrong) without your offensive use of the term "sheila"
    TREBOR
    2nd Apr 2019
    10:49pm
    I know - but that term, with me, only refers to the offensive ones with incessant demands and manipulation to gain control over the government.

    I clearly differentiate between women and feminists.... I love to bait the feminists....
    Anonymous
    2nd Apr 2019
    11:06pm
    Oh please, Mamacrystal, why do some women get offended at the slightest thing. Incidentally, the term is not offensive, quite the opposite. Here's the definition:-
    Sheila
    Someone who is your Bestfriend, sister and soulmate all at the same time. Someone who stick to you by your side no matter how bad the situation is. Someone you would be till jannah.
    That’s my Sheila. Sheila, love of my life.
    Anonymous
    2nd Apr 2019
    11:10pm
    Couple of things, Bob. Gillard's unqualified support of Shorten, full of hyperbole suggests that she is looking for a job when Shorten becomes PM. Could Hockey be replaced? Here's the outré thought, our new GG to replace Hurley?
    Theo1943
    2nd Apr 2019
    11:22pm
    I met a lovely country lady who has retired to a park home with her husband. On their morning walk they carry a bag to pick up all the kerbside rubbish they see. This lady's name happens to be Sheila.
    Rae
    3rd Apr 2019
    7:03am
    Isn't it odd TREBOR that people aren't at all concerned that Australia has been bankrupted by selling contracts for services to corporations at inflated profit levels. Nor that close to 50% of all NDIS funds go to providers for ticking boxes and never produce a home visit.
    It's bizarre.

    When it was public servants getting the job done all they did was whine about the expense . Now it's foreign companies taking billions away and not a whimper.
    Aussiefrog
    3rd Apr 2019
    8:51am
    Sheila offensive? What a joke, stop being a snowflake!
    MICK
    3rd Apr 2019
    10:05am
    OM:

    Good comment on the feminist BS which is taking over the western world and trying to turn men into compliant wimps.
    Your comment on Gillard is however a partisan comment. Seen little Johnny Howard lately. Rolled out for NSW State election and now spruiking anti Labor and anti Hanson on gun control and anything else which shores up the party line. It'd be nice if past PMs shut their faces and butted out rather than being used as tools to destabilise one party of other.
    State Labor was nobbled weeks before the election. That's LNP behaviour. Expect the dirt to surface about Shorten or some other front bench Labor MP in the next few weeks. That's how the bastards work.
    Anonymous
    3rd Apr 2019
    12:09pm
    Thanks MICK, I don't understand why it's wrong to speak about someone and have it rubbished as a "partisan comment". Of course your comment about Howard is merely an observation and can in no way be construed as a "partisan comment". As regards nobbling, didn't Al Jazeera and the ABC do a good job on One Nation? Three years in the making and, surprise, surprise, selective quotes released just before the election. Coincidence? I think not.
    MICK
    3rd Apr 2019
    12:27pm
    It is what it is and BOTH sides of politics want One Nation gone. The current government has gone after several Independents and Anning, a political moron, is next on the list. Yeah an election is about to happen. Ask Luke Foley and Michael Daley as they just went through the same smear to destabilise state Labor. It worked.
    arbee
    3rd Apr 2019
    2:30pm
    Mick, You say that is how the bastards work in regards to the Liberals, the following (sorry about it being so much) was said by Larry Pickering before he died.
    If this is how the party you support operates then God help Australia, because we all know if labour get in they will play Billy boy like a puppet on a string.




    This is interesting reading- unbelievable but could be correct. For Larry Pickering to say this it must be true, otherwise Bill Shorten would have had Pickering in court, but didn't have the guts to proceed with it, because Shorten knew he was involved in this criminal scam and could face a long prison term if police were called in to investigate this huge fraud scam. WHY I HATE THE SIGHT OF BILL SHORTEN. Written by Larry Pickering''Apart from having the sort of head you'd never get tired of kicking, Bill Shorten, to put it bluntly is a mongrel dog of a bloke. What rankles me most is not his politics or his lack of loyalty, but how he treated a good friend of mine''. ''That good friend is a dinky-di, true blue Labor party bloke, an AWU Secretary with an unusual ambition... to do the absolute best he could for the workers.

    That bloke's name is Bob Kernohan, a wonderful and honest lovable human being''. ''In the mid 1990s Bob became aware that a Bruce Wilson, WA Secretary of the same union, and his girlfriend, Julia Gillard, had been systematically stealing hundreds of thousands of dollars from their union members''. ''Bob was determined to expose the fraud and have the money returned to union members. He wrote a detailed, comprehensive affidavit on the activities of the two crooks, Bruce Wilson and Julia Gillard and publicised it, causing AWU heavyweights a great deal of anger and panic''. ''One of those AWU officials was very annoyed was (melon head) Bill Shorten, who was having it off with Nicola Roxon at the time. For God’s sake what a hilarious two-some''. ''Bill Shorten approached Bob Kernohan and told him to stop from exposing the scam saying, "This could bring us all down". Bob quite rightly ignored the request''. ''Undeterred, sneaky little Bill Shorten, with AWU supremo Bill Ludwig's blessing, then offered Bob the safe Labor seat of Melton in the Victorian Parliament's Lower House''. ''Bob quickly refused the offer, saying "This is nothing but a criminal bribe, I couldn't live with myself if I accepted that".


    This statement from honest Bob was to cause him considerably physical pain in the very near future by four heavyweight thugs sent to silence Bob Kernohan''. ''Bob, with the help of friends, continued to unearth the scam, which was by now gaining traction in the media, but unknown to Bob he was being shadowed by violent hired guns who were watching his daily comings and goings routine''.


    ''Then, late one night, Bob found himself cornered by four of the AWU's best thugs''. ''After receiving some heavy blows from all four, Bob fell to the ground in a foetal position trying to protect his head with his arms. A hail of work boots found their mark. His head, chest and stomach, he felt the pain of broken bone and torn tissue''. ''After what seemed an age they left Bob, bleeding and semi conscious, on the dark sidewalk''. ''He has never recovered from that cowardly assault. The injuries he sustained, both physical and mental, have stayed with him... they have affected every aspect of his life''. ''Now in hiding, he still he did not flinch from trying to restore members' funds stolen by Gillard and Wilson''. ''The next trick was to send him bullets in the mail and make threatening phone calls at all hours of the night.

    ill Bob stayed the course''. ''Latest reports from Victorian Police are that they have "ample evidence" to charge both Gillard and Wilson. They await a judge's ruling on further material Wilson is attempting to have suppressed''. ''It would be nice if, before Bob leaves us, that this matter gets resolved and just over a million dollars gets returned to Bob's union members''.

    ''That's why I don't like sneaky crooked Bill Shorten. If this sewer rat ever becomes PM then God help us''. ''PS. This is an update below.'.

    ''Just before Christmas, a Magistrate in Melbourne (who fully vetted the files) ruled that documents used in the commission of a crime are not covered 'by Legal Privilege' and ordered their release to Victoria Police who are now moving forward with the investigation.

    Things are starting to happen Hurrah'' ! ''Imagine an ex PM getting a long prison sentence especially a female, who are supposed to act like ladies with class? Julia Gillard a classy lady? Get real, she's made of stone and with the acid tongue of a wharfie''. ''Imagine other countries leaders thinking we are a bunch of hicks? With Australia's reputation of our politician's backstabbing each other and changing Prime Ministers every 5 minutes, they probably already think we are a bunch of hicks. Bill Shorten and his bunch of ALP clowns certainly are''.

    Tony Abbott may have his faults, like each of us have, but he is the most achieving and most productive Prime Minister since John Howard. If he could just grow a set of balls, he'd be 100% perfect. Yours truly,
    Larry Pickering
    The Care Bear.
    3rd Apr 2019
    4:49pm
    Can't wait for the OUTRAGE by the Labor Trolls.
    arbee
    3rd Apr 2019
    5:09pm
    Still waiting for Mick's response
    MICK
    3rd Apr 2019
    10:47pm
    arbee - you need to switch on your brain and run a virus checker to remove the vileness in your right wing manner. You appear to be a pretty nasty sort of person...but then so are most of the LNP trolls.
    For the record have a look at how Gillard was treated by Abbott, Jones and the right wing media. Her mistake was never that she lies about a Carbon Tax. Her mistake was she was doing a good job of governing. The irony will be that in the next few years THERE WILL BE A PRICE ON CARBON in the western world. What will you and your vile coworkers say then?

    You are a disgrace to decency if you think the vile rubbish you produced above is anything other than the workings of a very very sick mind. So who was Larry Pickering? A nobody! His opinion makes Anning look like an alter boy.
    Mike Omment
    2nd Apr 2019
    9:54pm
    There is nothing in this budget for greedy people but there is plenty in this budget for Australia and the workers who are the backbone of Australia. Some people think budget night is a night for handouts and freebies
    Karl Marx
    2nd Apr 2019
    10:33pm
    There is nothing really for low income workers or people trying to find work.
    And you are right about nothing for the greedy as there is nothing in the budget to go after the GREEDY rich people & GREEDY corporations that pay no or bugger all tax. So nothing in the budget for the greedy so they'll just keep getting richer while the poor get poorer.
    MICK
    3rd Apr 2019
    10:08am
    This budget was a sick spiel for votes. Nothing more. Lies, handouts and claims which would make your grandmother blush.
    I agree SFR, there were no measures to end transfer pricing so corporations and the wealthy will continue to shift their profits into offshore tax havens. That's 'business as usual' with the Morrison government firmly onside.
    Misty
    3rd Apr 2019
    12:41pm
    I wouldn't vote for Clive Palmer but if what he says about China owning our water and ports is true I think past govts who have let this happen do not deserve our vote.
    Jezemeg8
    2nd Apr 2019
    10:08pm
    There is nothing in this budget for those pensioners who are totally reliant on Centrelink payments. It's not enough that the taxes we paid all our working life that (according to the founder of the scheme Mr Robert Menzies) were meant to fund a liveable aged pension, were stolen by Mr Turnbull and his cohorts as no longer needed but we are expected to survive on LESS than what is deemed the totally unliveable minimum wage!! I minister to so many on the streets, mostly women around my age whose husbands have abandoned them for 'greener pastures' and took their superannuation with them, who can't find accommodation that they can afford, so now are trying to survive on the streets. The numbers of women in the situation I describe are steadily increasing. I'm fortunate to have a flat at the moment, for how much longer I don't know. But then the Government is only interested in those contributing to society isn't it? Or that's what our current PM seems to be saying, so those of us who've left the workforce are a burden obviously and need to be got rid of.
    TREBOR
    2nd Apr 2019
    10:51pm
    I'm touched by your story, Jez... sadly there are too many people doing it hard. I've been on the streets.. my 'wife' saw to that ... and it ain't fun.
    Cowboy Jim
    3rd Apr 2019
    10:04am
    The theft of the old age pension has nothing to do with Turnbull, was a bloke named Fraser long ago in the early 80s. He lost to Hawke in 1983 and Hawke/Keating never handed it back but introduced compulsory super. After that point the OAP was called "welfare" because asset and income testing was brought in. So, really a pox on both parties, eh?
    MICK
    3rd Apr 2019
    10:12am
    Not just pension recipients Jezemega8. Self funded retirees have been and continue to be marked for attacks from both sides of politics. For some reason if you worked hard, saved your money, did without and made investments during your working life you seem to be targeted as the elite. The fact that many retirees make around pension level counts for nought as the pollies expect people to live off their capital rather than the returns on capital. Whilst wealthy people are rewarded for doing this self funded retirees are demonised. Its not fair but that's what the developing genY political cohort believe. Expect it to get worse.
    Misty
    3rd Apr 2019
    12:42pm
    Don't you still live with your ex TREBOR?.
    Karl Marx
    2nd Apr 2019
    10:24pm
    nothing for retirees or low income earners. LNP are gone just hope the ALP get their act together & go after the rich & multinationals to start with that pay no or bugger all tax. There's billions that should be paid.
    Anonymous
    2nd Apr 2019
    11:15pm
    You see SFR, Labor and its sycophants keep chanting the party line about the rich and multinationals which sounds good but nobody can tell us what they plan to do. The rich and multinationals all pay their taxes according to Australian laws.
    MICK
    3rd Apr 2019
    10:14am
    You missed The Guardian story yesterday OM where a whole pile of wealthy Australians paid no tax again this year. Of course multinationals have their assets parked in offshore tax shelters as well and pay no tax.
    You may want to check your facts before you defend the indefensible.
    Anonymous
    3rd Apr 2019
    12:24pm
    The big problem with Labor is that they hate the middle class, and a healthy middle class is essential for a healthy and prosperous society. No government is ever going to attack the rich, because the rich are too powerful. We need middle class prosperity to drive economic growth. Labor is attacking the middle class as never before. Trickle down wealth doesn't work. We all know that. But trickle down hardship definitely does!
    Misty
    3rd Apr 2019
    12:45pm
    No they do not pay their fair share of tax OM, a report came out this week about how many companies did not pay any tax at all and the rich with their accountants manipulate their finances so they also pay little or no tax either.
    adbob
    3rd Apr 2019
    3:47pm
    @Mick

    The Guardian would know all about the tax minimisation possibilities of the Cayman Isalnds as they have used that themselves.
    Blinky
    4th Apr 2019
    4:20pm
    SFR. Labor always complains about the rich, so do The Communists, but guess what.
    A. The rich provide jobs n create more 8nvestment opportunities n they pay tax.
    B. Check out how much Bill Shorten n his fellow politicians are worth, how much they earn, how many properties n other 9nvestments they have and how much pension they will get when they retire. It's the old "pot calling the kettle black" story mate, Labor's politicians are as rich as any other polly in this country!!!
    Anonymous
    5th Apr 2019
    11:57am
    Yes, Blinky, and ask why Labor wants to transfer MORE MONEY TO THE RICH.

    Ask why they won't release up to date figures on their franking credit proposal which show that they won't take anything from the wealthy because refunds now begin to reduce at a $1.6 mil balance - so their claimed target funds (which they say represents over 50% of those who benefit from refunds) will suffer minimal or no loss.

    Ask them why they intend to change the tax system for people who live off dividends to tax people with low incomes at 30% on every cent they earn and people with huge superannuation accounts at only 15% on part of their income a 0% on part?

    Ask then why they will tax someone earning $18000 a year at 30% if they earn dividend income and someone earning $37,000 a year only an average of 9.5%.

    This is Labor's 'fairness' and 'taxing the wealthy. You would have be brain dead to not see through their lies, and very hypocritical and selfish to support them.
    Anonymous
    5th Apr 2019
    11:57am
    Yes, Blinky, and ask why Labor wants to transfer MORE MONEY TO THE RICH.

    Ask why they won't release up to date figures on their franking credit proposal which show that they won't take anything from the wealthy because refunds now begin to reduce at a $1.6 mil balance - so their claimed target funds (which they say represents over 50% of those who benefit from refunds) will suffer minimal or no loss.

    Ask them why they intend to change the tax system for people who live off dividends to tax people with low incomes at 30% on every cent they earn and people with huge superannuation accounts at only 15% on part of their income a 0% on part?

    Ask then why they will tax someone earning $18000 a year at 30% if they earn dividend income and someone earning $37,000 a year only an average of 9.5%.

    This is Labor's 'fairness' and 'taxing the wealthy. You would have be brain dead to not see through their lies, and very hypocritical and selfish to support them.
    Crazy Horse
    2nd Apr 2019
    10:49pm
    It’s easy to produce a (projected) surplus when you don’t spend money providing the services Australians expect their government to deliver.

    Not even a tiny increase for those struggling on the totally inadequate NewStart. Nothing substantial on the environment. A paltry $400K on preparation for electric vehicles.

    Fortunately this Budget will be consigned to the dustbin after the election.
    GeorgeM
    2nd Apr 2019
    11:58pm
    Agree this is not a real Budget, just an election document and will go into the bin.
    In fact, the Treasurer started out with a lie - that the Budget is now in black...when he meant that he forecasts the next FY Budget to be in black - wonder if parliament can censure him for lying.
    MICK
    3rd Apr 2019
    10:14am
    Ditto.
    Mexican Shark
    2nd Apr 2019
    10:50pm
    All you lefties have Shortened memories: Huge debt inherited by the LNP (and now sorted for 2019/2020), the country's worst ever treasurer in Wayne Swan who deceived the people of Australia into believing he would be delivering a surplus, but stuffed up and had to embarrassingly retract that forecast, the highly deceitful Mediscare campaign run by Labor at the last election, intending to frighten pensioners into believing Medicare would collapse under an LNP government, etc etc etc. I for one don't want to see the country run by the union movement, and administered by a bunch of ex-union officials.
    TREBOR
    2nd Apr 2019
    10:53pm
    **cue Mick*

    This 'government' has doubled + the debt without acquiring one thing of value to the nation.
    Karl Marx
    2nd Apr 2019
    11:21pm
    Maybe the country will be far better of run by the unions and ex union officals. The current mob of greedy self-interested bunch have shown they are inept. And the track record of union representsion on the boards of industry super funds prove that they put people first & not the greedy already rich.
    MICK
    3rd Apr 2019
    10:19am
    Here I am!
    You must be an LNP rusted on Mexican Shark. What's the name you normally post under?

    To put your BS to rest:

    1. Debt? Labor governed DURING THE GFC and left $148 billion in debt. Your LNP government has run this up to over $600 billion with nothing to show for the money other than Royal Commissions against Labor and unions and waste on steroids.
    2. Mediscare? Tell readers about the hacking of GetUp a week before the Mediscare response. Tell readers about Turnbull's repeated calls to control GetUp because it was getting through to people and we can't have that.

    Your post reeks of government funding.....for you to post.
    Misty
    3rd Apr 2019
    12:46pm
    Ditto Mick.
    Misty
    3rd Apr 2019
    12:51pm
    Wayne Swan got the Treasurer of the Year award from Time Magazine, they don't hand that award out lightly so he must have done some good under difficult circumstances.
    Greg
    3rd Apr 2019
    1:42pm
    Do you have any understanding of how the economy works??? You seem to have a short memory too.

    Debt was inherited, true, a debt due to the GFC which was the biggest worldwide recession since the Great Depression and Australia DID NOT go into recession.

    So the LNP inherited the debt and since then it's been going up and up and up.

    "and now sorted for 2019/2020" - NO, the DEBT is not sorted for 2019/2020, the budget has a planned surplus, that IS NOT the debt of the country.

    You obviously have no idea....
    Misty
    3rd Apr 2019
    8:57pm
    Who are you replying to Greg?.
    JB
    4th Apr 2019
    6:24am
    LNP have sold off Centrelink and other important infrastructure to their mates. Large corporations don't pay taxes. Its amazing how they have found all this money just before an election. Wonder if they have robbed poli's superfund to pay for it, just like they accuse others of doing.
    Blinky
    4th Apr 2019
    4:24pm
    Well said MS. People forget quickly. Labor goes to bed w the unions, they r mandated by the unions . Shorten 8s criricizing the Libs x having changed too many PM'S. He seems to, very conveniently, have forgotten about the musical chairs between Rudd, Gillard and himself!
    Hoohoo
    7th Apr 2019
    5:12pm
    Blinky, yes people DO forget quickly. You seem to have forgotten that Rudd/Gillard/Rudd were booted out for their lack of cohesion & leadership stability. Yet Labor look like shrinking violets next to this current Liberal National Party!

    The LNP are just terrible at every level. They gave us a sub-standard NBN, Murray/Darling catastrophe, high power prices, no leadership & no policy at all for "difficult" issues like power & climate, just to name a few. They'd be smart to start acting with bipartisanship, because they are going to be decimated at the election. Blame people like Abbott, Barnaby & Dutton - the Libs would be better off without them. Shed these far right wingers & start again if you want to have a decent Liberal Party that can possibly gain government again in the future.
    David
    2nd Apr 2019
    10:56pm
    Absolutely nothing for self funded retirees again. Typical of both major parties but should Shorten get the keys to the Lodge this country is cactus.
    GeorgeM
    2nd Apr 2019
    11:53pm
    Yep! Vote BOTH of them (and Greens) OUT.
    3 Million+ Retirees can do it by putting their current Major party MP at / near (just above the extremists) the bottom in preferences.
    Misty
    3rd Apr 2019
    12:47pm
    Rubbish, rubbish David.
    Hoohoo
    7th Apr 2019
    5:15pm
    Of course it's rubbish, Misty. But this is all they've got - no reasons, just inane words like "cactus".
    Farside
    7th Apr 2019
    6:01pm
    no shortage of "chicken little" types on this forum - doomed if we stay with one lot, woe betide if change to another. About the only thing you can be sure is many comments are motivated by self-interest and too often comprise logical fallacies and unrealistic wishful thinking.
    Alan
    2nd Apr 2019
    10:57pm
    Seems very much a budget for those who may be tempted to change their vote for the Liberals. No great benefits for those that are rusted on Labour (Pensions, Newstart) nor any great benefits for rusted on Liberals (Tax cuts for middle incomes with high incomes missing out).
    Theo1943
    2nd Apr 2019
    11:52pm
    You don't seem to understand that the high income earners get all of the tax cuts of those earning less than them.
    MICK
    3rd Apr 2019
    10:20am
    Not a Budget. Just a lying load of BS and bribes for the mentally challenged who'd sell their souls for a few dollars. Noting more.
    Misty
    3rd Apr 2019
    12:48pm
    Some high income earners will receive over $10,000.00 tax c uts, you call that nothing?.
    Kali-G
    2nd Apr 2019
    11:37pm
    SCOMO GIVING $55 MILLIONS TO GUARD TERROR TRAINING CENTER READ (MOSQUES)...GIVING PENSIONERS SWEET F ALL......I WILL NEVER VOTE LNP AGAIN...ONE NATION OR FRASER ANNING...
    MICK
    3rd Apr 2019
    10:26am
    I understand we have 120,000 homeless people in Australia and they can go whistle but the government can give Mosques $55 million for CTV systems.
    This government is perverse, has abandoned its own struggling citizens and preys upon the poor and weak.
    I wouldn't vote LNP if you paid me and only morally devoid human beings could vote for the current dictatorship in forming which is running a class war agenda whilst crowing how it does.
    older&wiser
    3rd Apr 2019
    1:08am
    I am SO sick and tired of hearing about 'tax breaks' and help for 'working families'!! Aged pensioners are really the forgotten Australians.
    MICK
    3rd Apr 2019
    10:27am
    We're under attack. Prime targets because we are generally not destitute. Fair game methinks for bad governments.
    Play Fairly
    3rd Apr 2019
    11:07am
    Yep. As someone else pointed out, the Aged Pension is not Welfare......these people are yesteryear's workforce.....they have contributed and paid taxes throughout their entire working lives. Now, as their mortality becomes more physically obvious and evident, they need to be given the well earned rest and respect they deserve.

    Each retired worker, irrespective of their marital status and domestic arrangements, deserves to be paid the Single Rate Pension.

    Since when is it the business of a government to reduce the amount of an ex-workers Aged Pension entitlement simply because they form part of a couple.

    So sick of the standards, or lack thereof, that we have witnessed in our Parliament. Seems nobody is really interested in simply doing a good job.....I'm afraid the lure of the "honeypot" is the main reason most of them are there. Amass as much as you can and do anything to remain in office. Oh, where do we find a Statesman whose primary concern is to work to benefit the people, and not just themselves and their Party.
    Anonymous
    3rd Apr 2019
    12:28pm
    Aged pension is not welfare but fair tax for self-funded retirees who invest in blue chip shares IS? According to pensioners and the Labor Party SFRs are 'rorting', despite many of them contributing more than 100% of their annual income to the Treasury by not claiming a pension. No pension. No concessions. And now a 30% tax on their dividends is Labor gets in. And this is what Labor and the pensioners consider 'fair'. On the part of Labor, it's deceit and treachery. On the part of pensioners, it's pure GREED. Taking tens of thousands in handouts from the taxpayer and claiming it as an ENTITLEMENT (not welfare) is reasonable. I agree. But to then begrudge self-funded retirees a fair tax refund is just disgusting.
    Karl Marx
    3rd Apr 2019
    12:30pm
    O&W here we go again. ALP & pensioner bashing. I think everyone is over all your negativity so please give it a rest.
    Blinky
    4th Apr 2019
    4:28pm
    Yes. Pensioners are THE FORGOTTEN AUSTRALIANS.
    ALL politicians avoid pensioners like the plague. They only remember pensioners when they need to make cuts and take money off the pension system n push pensioners deeper n deeper into the poverty line.
    Misty
    4th Apr 2019
    7:13pm
    If you think like that, after 6 years of nothing for pensioners from this govt, why on earth would you vote for them Blinky?.
    Anonymous
    5th Apr 2019
    12:46pm
    Because Labor is planning to totally demolish retirement. They have no interest in pensioners, but they will make damned sure there are lots more of them and nobody who isn't rich can expect to enjoy retirement.

    3rd Apr 2019
    7:02am
    Electric cars are not suitable for Australia the distances are to great how could we drive the Simpson desert the canon stock route and most of the outback and isolated areas.what are we going to do with all the junk when they have reached there use by date.Where are we going to get the x power to feed the cars certainly not from renewables .what are we going to do with all the renewables junk when there use by date is reached US is all ready having problems with this come on you greenies look at the future not the present.
    Aussiefrog
    3rd Apr 2019
    8:59am
    Electric cars are just another con job, only hydrogen cars are practical. Disposing of electric cars will be a MAJOR concern
    Misty
    8th Apr 2019
    1:59pm
    Tell that to the Chines Aussiefrog, they sold over 1 million in 2017 after their sales rose 53%, Bloomber has forcast that 11 million will be sold by 2025 and 30 million by 2030 so they are not going away and as technology improves who know how many more then those forcast will be sold, we can't stay in the past forever.
    Aussiefrog
    3rd Apr 2019
    8:40am
    Thank you Your Life Choice for covering and explaining the budget, as always you are very helpful
    Aussiefrog
    3rd Apr 2019
    8:45am
    George M agreed
    Aussiefrog
    3rd Apr 2019
    8:45am
    George M agreed
    Aussiefrog
    3rd Apr 2019
    9:04am
    Liberal, labor and the toxic greens have failed to address pensioners need for the past 30 odd years.
    DON'T WASTE YOUR VOTE MAKE IT COUNT!
    thommo
    3rd Apr 2019
    9:52am
    Well said Aussiefrog.....But we need to get someone into parliament who can push for a better deal for pensioners.. The OAP is an entitlement, not welfare, and this myth must be sorted out quickly...
    If tax payers and workers can get such largesse, then it is morally right that pensioners get a decent pension... not the pittance thats dished out now...But the first step is to get rid of this LNP government, because if they get back in, it will be same old same old again......
    MICK
    3rd Apr 2019
    10:30am
    We need a proper retiree party. If Labor fails we need go down this road and try to form a party which brings together all Independents and minor parties against the common enemies: Liberal, Nationals, Labor and Greens. We all understand those who think retirees are there to plunder and the time is approaching where somebody needs to bind Independents together and fight the bastards.
    Anonymous
    3rd Apr 2019
    12:30pm
    Libs and Labor and the Greens have all gone out against retirees - not just pensioners. Labor and Greens are the worst attackers, so MUST be put last on voting papers. We simply cannot afford to allow Labor to slaughter self-funded retirees because more pensioners means more strain on the budget and more calls for cuts.
    Misty
    3rd Apr 2019
    12:57pm
    It is not up to you OlderandWiser to tell people how to vote, depending on the individuals circumstances is what will make them vote, hopefully people will check who their local federal member is, contact them and see what they have planned for their area and problems and can then do an informed choice as to who to voted for.
    Agnes
    3rd Apr 2019
    9:15am
    Have to do the usual, and put labor last on the ticket and the greens second to last. And everybody else above that. Last thing this country needs is another incompetent labor government being ruled by and cowtowing to the self interested evil unions.It really is as Churchill said, we end up voting for the least worse.
    MICK
    3rd Apr 2019
    10:31am
    Straight from party HQ? Only somebody as morally devoid as th ecurrent government could ever vote for it after the last 6 years. You?
    Anonymous
    3rd Apr 2019
    12:32pm
    Have to agree Digby, as much as I hate the Libs. Labor will destroy us all.

    Shorten has now finally admitted that his retiree tax is a concession to union super funds who are angry that SFRs can invest in blue chip shares. It has nothing to do with funds for health and education. He probably knows it will cost far more than it saves. You don't need much in the way of brains to figure out that stealing thousands from 1.1 million and making saving for retirement futile will be an economic disaster.
    Misty
    3rd Apr 2019
    1:01pm
    I am beginning to think, as are a lot of others commenting here, that you are a LNP supporter OlderandWiser, deny it all you like but that is what your comments are coming across as.
    The Care Bear.
    3rd Apr 2019
    5:00pm
    Maybe O&W is just a clear thinker.
    Anonymous
    5th Apr 2019
    12:16pm
    You are showing an inability to comprehend, Misty. But you have shown lack of comprehension and logic before. Obviously you can't analyse policy and see the facts.

    I have no political affiliations, but I believe lies and unfairness should be exposed.

    Labor is telling massive lies. It is attacking LOW income retirees and other low income earners, and NOT TOUCHING THE RICH AT ALL. It will tax people earning $18000 a year at 30% if they rely on dividend income, but someone earning $37,000 a year from other sources at only 9.5% average.

    It will tax people with $500,000 in super at 30% and someone with $2.4 mil at 15% or less.

    If you support this, you are supporting a very dangerous proposition - that the poor should be attacked and overtaxed and the rich fed more. That our tax system should be inverted to make the poor pay most. Congratulations! Unbelievable anyone could support such a premise.
    Cowboy Jim
    3rd Apr 2019
    9:47am
    Not good and not bad either. It is what one expected. A few pennies here and some others there. I am afraid of voting Labor after the Rudd experience of letting the boats back in. That is more important to me than a few dollars extra spending money. My current electricity bill states "your daily cost is $2.95". A schooner of my beer is twice that in the club. So I can always drink one schooner less before complaining about electric bills.
    Do not let in more people who will never become Aussies - that is more imperative!
    MICK
    3rd Apr 2019
    10:33am
    Agree about the boats but Shorten has said he will not budge on the current policy. If he does he knows what will happen to him.
    So what can one do? Vote for the worst and most crooked government in living history again?
    Anonymous
    3rd Apr 2019
    12:33pm
    No, vote for a much worst and much more crooked Labor Party that will demolish the middle class, retirees and the economy.
    Greg
    3rd Apr 2019
    2:00pm
    OlderandWiser - Garbage again, demolish!!! haha, there's winners and losers in everything.
    Blinky
    4th Apr 2019
    4:37pm
    Agree Cowboy Jim. Labor will open thr floodgates to illegals which will cost this country millions if not billions in accommodation, food, health, welfare and more, not to mention that some of them may also bring anti-Australian ideas or cultures, which may be detrimental to Oz.
    STOP LABOR...STOP THE BOATS!!!
    Misty
    4th Apr 2019
    7:08pm
    You are living in the past Blinky, that will never happen again, no party would be stupid enough to allow illegal migration to start up again, it would be political suicude..
    Misty
    7th Apr 2019
    9:24pm
    More rubbish, have the fllodgates opened on Xmas Island, NO in fact it will probably be closed, what a waste of money just so the PM can have a photo shoot, Millions spent for nothing.
    oldpunter
    3rd Apr 2019
    10:05am
    So, many workers are getting a tax cut, which equates to a wage rise as far as i can see that should appear in there wage packet each week or at the end of the financial year as a tax return. This should help them cope to some extent with the higher cost of living. However, even though pensioners are subject to the same higher cost of living, there is nothing to help them. This of course is true for others such as Newstart and Dole payments.
    MICK
    3rd Apr 2019
    10:35am
    Are you for real? Have a look at the cost of living, the wage increases workers have (not) received during the past 6 years and how much the top end of town has gotten. Then have a look at what professional people and tradies have done: doubled their income rates.

    The writing is on the wall and the bribe delivered last night is nix other than buying votes. People will still not cover their bills.
    Cowboy Jim
    3rd Apr 2019
    5:01pm
    Mick - do not forget the politicians' salaries. You can lump them in with the top end of town and I mean all of them, ALP and LNP.
    Cowboy Jim
    3rd Apr 2019
    5:03pm
    oldpunter - what is the difference between Newstart and Dole payments? Always thought Newstart is the polite alternative to the Dole.
    Mad as Hell
    3rd Apr 2019
    11:01am
    Give my $125 power supplement to Newstart recipients.
    And give me back my Assets the LNP and Greens stole with the 2017 changes to the Pensioner Assets Test. Those changes were outright theft spun on lies.
    Pensioners deserve better.
    Anonymous
    3rd Apr 2019
    12:36pm
    Mad as Hell, what the Libs and Greens did was reprehensible and unforgivable, but now Labor - a party that CLAIMED to oppose that hit on retirees - plans to totally demolish the victims of that cruel stunt. Clearly they lied when they pretended to support retirees who were unfairly slugged. Now they intend to finish the demolition job the Libs started. At least returning the Libs would save us far worse and much more unfair deprivation.
    Misty
    3rd Apr 2019
    1:08pm
    I don't think this budget will change anyone's vote, most people have already made up their minds who they are going to vote for, regardless of the dirt attack ads that will be rolled out in the weeks to come.
    Big Kev
    4th Apr 2019
    1:38am
    There is nothing really for people under $40000. I'm a self funded retiree who earns $80 per fortnight more than the limit for health benefits cards. For $2000 a year, I have to outlay$6000 per year. Thanks for nothing Josh.
    And the people on Newstart and Disability Payment still have no increase in 6 years.
    JB
    4th Apr 2019
    6:15am
    Well listened to the spin on the Budget. What a load of rubbish. Spend money on nothing. No real infrastructure spending. Buying votes. Pity our kids can't vote from 16 years old. Would really give the LNP a shake up.
    Not sure if Labor will be any better but after reading the polices of LNP, Labor, Greens and One Nation I think I will stick with Greens/Labor. I for one do not have my opinion made for me by Rupert Murdoch, Andrew Bolt, Miranda Devine, Piers Ackerman or those loudmouth shock jocks that have an opinion on everything but substance on nothing.
    Misty
    4th Apr 2019
    7:10pm
    Ditto JB.
    Anonymous
    5th Apr 2019
    12:43pm
    What is certain is that Labor and Greens will be much, much worse. They are planning the biggest transfer of wealth TO THE RICH ever seen in our history. They want to destroy retirement completely. They want to wipe out the middle class and upper working class completely. I support strong welfare, but we DO NOT want a nation in which ONLY those on welfare are considered worthy of a quality lifestyle. We DO NOT want a nation in which working and living responsibly is a punishable offence. If we don't allow workers to enjoy fair benefit from working, they will stop. If we don't allow people who save to benefit from saving, they won't. We need a balance. Libs have no idea of balance, but Labor and Greens version of 'balance' is ensuring everyone who isn't rich is poor and dependant.
    dolbt60
    4th Apr 2019
    5:37pm
    This government would do well in the car yards Scott Morrison shouts his way to whom he is addressing like they all do shouting to cover up the errors of the so called wonderful policy's 'all a big Con, handing out voting money to the disadvantaged this government have increased the cost of all visas still higher easy money cutting all essential services the Con will go on and on good sellers lies and more lies

    5th Apr 2019
    11:40am
    Been reading the report into the proposal to cancel refunds of franking credits. Alarmingly, virtually all of Labor's justifications for it's policy are PATENTLY FALSE.

    Labor says "Of all excess imputation credits refunded to SMSFs, 50% of the total benefits go
    to the wealthiest 10% SMSF balances (which have balances in excess of $2.4
    million);


    BUT they are letting all of these funds retain their benefit. They will not be affected.

    • The top 1% of SMSFs received a cash refund of $83,000 (on average) – an
    amount greater than the average full time salary; and


    BUT those funds will be less impacted - or not at all - than those with low incomes. to receive that much income, you need a high smsf balance. people with high balances now pay tax, so will retain their credits.

    • Some SMSF funds received ATO should be investigating how they are avoiding the tax they are required by law to pay, because they must have dividends of $6 million, requiring a fund balance of much more than $60 million, which even if divided between the maximum of 4 members means $53.6 mil would be taxed


    These funds won't lose one cent under labor's policy unless they are acting illegally now.

    Isn't it time Labor STOPPED telling lies? And past time commenters here STOPPED supporting LIARS and demanding FAIRNESS and DECENCY prevail?

    5th Apr 2019
    11:40am
    Been reading the report into the proposal to cancel refunds of franking credits. Alarmingly, virtually all of Labor's justifications for it's policy are PATENTLY FALSE.

    Labor says "Of all excess imputation credits refunded to SMSFs, 50% of the total benefits go
    to the wealthiest 10% SMSF balances (which have balances in excess of $2.4
    million);


    BUT they are letting all of these funds retain their benefit. They will not be affected.

    • The top 1% of SMSFs received a cash refund of $83,000 (on average) – an
    amount greater than the average full time salary; and


    BUT those funds will be less impacted - or not at all - than those with low incomes. to receive that much income, you need a high smsf balance. people with high balances now pay tax, so will retain their credits.

    • Some SMSF funds received ATO should be investigating how they are avoiding the tax they are required by law to pay, because they must have dividends of $6 million, requiring a fund balance of much more than $60 million, which even if divided between the maximum of 4 members means $53.6 mil would be taxed


    These funds won't lose one cent under labor's policy unless they are acting illegally now.

    Isn't it time Labor STOPPED telling lies? And past time commenters here STOPPED supporting LIARS and demanding FAIRNESS and DECENCY prevail?
    Karl Marx
    5th Apr 2019
    3:07pm
    And isn't it time you stopped telling lies. Have you the same data & experienced admin staff to analyse tne proposal. NO.
    You seem to be the only one that's whinging & wining.
    Diversify out of FC's & if you can't then you can't by your own choice, no-one elses. So get over it & move on, you're had plenty of time to readjust.
    auzie3136
    6th Apr 2019
    4:07pm
    YES AGAIN Self funded retirees get nothing.
    Misty
    6th Apr 2019
    6:31pm
    Neither do pensioners, except for the one off energy payment, maybe the think not enough votes for them with us, SFR and pensioners.
    Adrianus
    7th Apr 2019
    8:08am
    I don't mind getting nothing when one looks at the alternative.
    Adrianus
    7th Apr 2019
    8:08am
    I don't mind getting nothing when one looks at the alternative.
    Misty
    7th Apr 2019
    9:41am
    Please elaborate Adrianus, what do you mean by that comment?, what alternative are you talking about?.


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