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Budget: The “Welfare” Budget and Not for Profits


Wednesday, 9th May 2012 at 10:15 am
Staff Reporter
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’.


Wednesday, 9th May 2012
at 10:15 am
Staff Reporter


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Budget: The “Welfare” Budget and Not for Profits
Wednesday, 9th 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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