Budget: The “Welfare” Budget and Not for Profits
9 May 2012 at 10:15 am
Australians on low and middle incomes are the big winners in this year’s Federal Budget handed down by the Treasurer last night – and for the Not for Profit organisations that work at the coal-face the Budget has been seen as ‘helping the battlers’.
The biggest measure announced is the funding of the set up costs for the National Disability Insurance Scheme of almost $1billion over the next four years.
For the Not for Profit campaign ‘don’t cut aid’ the Budget announcement on international aid however has come as a blow.
The Government has deferred the target date by which it intended to provide the foreign aid equivalent to 0.5% of gross national income, saving $442.7 million in the 2012-13 year.
Despite this, Australia’s Official Development Assistance (ODA) will increase to $5.2 billion in 2012-13; an increase of $2 billion since 2001.
Families who receive Family Tax Benefit A will receive a boost from July 1st with up to $600 a year for families with two or more children. An extra $2.1Billion will be spent over five years on a means-tested Schoolkids Bonus.
Community Based Employment Advice services has been allocated $7.1 million to meet demands of clients in regional areas with restricted access to employment services.
The Government will continue to roll out the $4.3 billion in regional health, hospitals, education, infrastructure and skills investments announced in the 2010/11 budget.
In the area of aged care, the Budget provides a package of $577million to enable people to stay at home under a user-pays scheme.
On the welfare side the Budget provides annual payments of up to $200 for unemployment and other benefits. A new supplementary allowance for unemployed, students and parents with young children will start in March costing $1.1Billion.
The National Capital Authority will receive $11.9 million to ensure the financial sustainability and support heritage compliance and asset management.
The Key Points of the Federal Budget include:
- $1.5 Billion surplus in 2012-13
- $1.8 Billion in extra family support
- $1 Billion National Disability Scheme
- $500 Million for a National dental scheme
Budget Savings include:
- $5.4 Billion in Defence efficiences
- $4.8 Billion company tax cut scrapped
- $2.9 Billion foreign aid target deferred
- $2.1 Billion standard tax deduction scrapped
- $1.4 Billion in Super tax break
Budget At A Glance: http://www.budget.gov.au/2012-13/content/at_a_glance/html/index.htm
The Treasurer will be taking part in a Twitter forum from 11am AEST this Friday. You can join in the conversation by following @SwannyDPM and on the #FairGo hashtag.
Read all our coverage of the 2012 Budget here.
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