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Treasurer Scott Morrison Delivers 2017 Federal Budget

May 09, 2017

The Treasurer, Scott Morrison, has delivered the Turnbull government’s second Budget, forecasting a return to surplus in four years, abandoning stalled budget cuts, guaranteeing Medicare and the PBS, incresing the Medicare levy and imposing a new levy on the commercial banks.

The Budget also includes provisions for first home buyers to salary sacrifice into their superannuation. It includes a crackdown on welfare recipients.

The Budget marks a break with the Abbott years. It abandons the “zombie” cuts stalled in the Senate whilst increasing spending in traditional Labor areas. Morrison said it was a “reset”.

  • Listen to Scott Morrison deliver the Budget (32m)
  • Watch Morrison (32m)

Budget Documents – PDF downloads


Filed Under: Audio, Budget, Defence, Education, Health, Infrastructure, Liberal Party, NDIS, Social Welfare, Taxation, Turnbull, Video Tagged With: , , , , , ,

ALP Releases Policy To Cut Back Negative Gearing

Feb 13, 2016

An ALP policy released today proposes that negative gearing will only be available from July 1, 2017 for newly constructed homes.

Announcing the policy at the NSW ALP State Conference, Opposition Leader Bill Shorten said all current investments will be grandfathered.

In a further measure, the capital gains tax discount will be reduced from 50 per cent to 25 per cent.

The full policy appears below.

Statement from Opposition Leader Bill Shorten

ALP

A strong and sustainable budget is necessary so we can fund our priorities of health and education and underwrite our nation’s future. [Read more…]

Filed Under: 2016 Federal Election, A.L.P., Taxation Tagged With: ,

Australia Institute Proposes Capital Gains Tax On Home Worth More Than $2 Million

Jan 11, 2016

The Australia Institute says capital gains tax exemptions on homes worth over $2 million are costing the federal budget billions of dollars.

Capital gains tax is not payable on the sale of the main residence. The Treasury says this costs the budget $46 billion each financial year.

The Australia Institute report proposes scaling back capital gains tax exemptions for homes worth more than $2 million. It says this would raise $12 billion over four years.

The Institute, a progressive think tank, says the proposal should be considered because it costs more than the federal government spends on defence ($26.3bn), education ($31.9bn) or Medicare ($21.1bn).

The report was prepared by the institute’s senior economist, Matt Grudnoff.

The report is shown below. It can be expanded and downloaded.


Filed Under: Taxation Tagged With: , , ,

COAG Discussions Focus On Terrorism, Federation And Taxation

Oct 10, 2014

The Council of Australian Governments met in Canberra and discussed a range of issues, including terrorism, reform of the Federation and the taxation system.

COAG

The Prime Minister, Tony Abbott, held a joint press conference following the meeting. He was accompanied by Premiers Baird, Napthine, Newman, Barnett, Weatherill and Hodgman, as well as the Territory Chief Ministers Gallagher and Giles. Felicity-Ann Lewis represented Local Government. [Read more…]

Filed Under: A.C.T., Abbott, Audio, Federalism, Local Government, N.S.W., N.T., Qld, S.A., TAS, Taxation, Terrorism, VIC, Video, W.A. Tagged With: , , , , , , , , ,
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