articles: Federal Budget

2017-2018 Federal Budget Expert Analysis - Health

Key points

  • Medicare Levy to increase by 0.5% from 1 July 2019

  • Medicare Levy low-income thresholds increased

  • Medicare Guarantee Fund to be established to ensure Medicare is fully funded

  • The freeze on the indexation of the Medicare Benefits Schedule (MBS) has been lifted

  • Retention of bulk billing incentives for diagnostic imaging and pathology services

  • Affordable access to medicines continued

2017-2018 Federal Budget Expert Analysis - Property

Key points

  •  Measures aimed at foreign resident property owners
  • Restricting ownership by foreign ownership in new developments

  • GST integrity measure on property transactions

  • Limiting plant and equipment depreciation claim for property investors

  • Integrity measures regarding the Small business Capital Gains Tax (CGT) concessions will be introduced

2017-2018 Federal Budget Expert Analysis - Superannuation

Key points

  • Limited Recourse Borrowing Arrangements to be included in a member’s superannuation balance and transfer balance caps

  • First home owners will be allowed to salary sacrifice to superannuation for home deposits

  • Home sellers 65 years or over can make non-concessional contributions to superannuation

2017-2018 Federal Budget Expert Analysis - Infrastructure

Key points

  • $75 billion in infrastructure funding and financing over the next 10 years

  • Western Sydney Airport to be built

  • Funding of Melbourne to Brisbane Inland Rail project

  • $10 billion National Rail Programme

  • Establishment of a $472 million Regional Growth Fund to deliver job-creating infrastructure

2017-2018 Federal Budget Expert Analysis - Housing Affordability

Key points

  • First home buyers can salary sacrifice into their superannuation account

  • Up to $300,000 from the proceeds of the sale of the family home can be contributed to superannuation for persons aged 65 and over

  • Increasing the CGT discount to 60% for investments in affordable housing

  • Allowing managed investment trusts (MITs) to be used to develop and own affordable housing

  • Further initiatives to increase housing supply