The Federal Government has pledged to deliver a surplus in the 2012 budget, a promise that is likely to mean widespread cuts across government agencies, including to aspirational IT projects. The government is likely to lose a big voter base due to these cuts to decrease pay rises in government jobs and culling of jobs which can be seen with a increase in union protests for pay rises all over Australia.
The budget aspires to spreads the benefits of the mining boom to help low and middle-income families, through increased payments to families and an allowance for eligible income recipients.
Some features of Australia BUDGET 2012 – 2013
$1.8 billion to increase Family Tax Benefit Part A for all eligible families, commencing 1 July 2013
From 1 July 2012, more than tripling the tax‑free threshold from $6,000 to $18,200, freeing up to 1 million Australians from the need to lodge a tax return
An extra $2.1 billion over five years on a new Schoolkids Bonus, paid directly to eligible recipients
From 1 July 2012, delivering tax breaks for small business, like the increase to the instant asset write‑off threshold to $6,500
Delivering 76 major new regional health infrastructure projects across Australia, worth $475 million
Increasing the number of Home Care packages by nearly 40,000, to nearly 100,000, over the next five years
$1.75 billion National Partnership Agreement on Skills Reform as agreed at COAG in April this year
Investing over $36 billion in roads, rail and ports over six years to 2013‑14
Budget Documents Download
Budget Overview– 2.3MB– Budget Overview is an overview of key budget aggregates and the Government’s budget priorities.
Appendix A ‑ Australian Government budget aggregates
Appendix B ‑ Assessment against the fiscal target
Appendix C ‑ Helping households with the cost of living
Appendix D ‑ Lowering the tax burdens of Australians
Appendix E ‑ Major initiatives in the 2012‑13 Budget
Appendix F ‑ Major savings in the 2012‑13 Budget
Appendix G ‑ Australian Government taxation and spending
Appendix H ‑ Detailed economic forecasts
Appendix I ‑ Historical budget and net financial worth data
Download Chartpack –.48MB (Zip)
More Budget documents 2012- 2013 PDF download
Other Australian Budgets 2012 – 2013
Agriculture, Fisheries and Forestry budget 2012-13
Broadband, Communications and the Digital Economy budget 2012-13
Climate Change and Energy Efficiency budget 2012-13
Education, Employment and Workplace Relations budget 2012-13
Resources, Energy and Tourism budget 2012-13
Overseas Other countries Budget 2012 – 2013
Uk budget 2012 – 2013 – Chancellor cuts income tax rate for 300,000 richest households, while 4.4 million pensioners are set to lose out by £84 a year – read more
Budget of the United States Government, Fiscal Year 2013 – US budget contains the Budget Message of the President, information on the President’s priorities, budget overviews organized by agency, and summary tables. To download "Budget of the United States Government, Fiscal Year 2013" as a single PDF click here (256 pages, 4.6 MB) ….. Read more
Indian Union Budget 2012 – 2013 – The indian budget 2012- 2013 lives up to its promise to bring the fiscal deficit down from 5.9% of GDP to 5.1% of GDP as proposed….. Read more
NZ Budget 2012 – 2013 – The Government is firmly focused on rebuilding and strengthening the economy to get back to surplus by 2014/15…. Read more
Canada Federal budget 2012 – The canada federal budget had a sweeping overhaul of Canadian law ever contemplated in one piece of legislation: 425 pages of dense legalese that amends or throws out more than 60 existing federal statutes….Read more
Honk Kong budget 2012 2013 By Deloitte china – Budget papers for Hong kong by PWC coopers and Deloitte
Article by Gee Lan Kwo
