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Australian Budget

The 2012–2013 Budget – Australian Government

May 20, 2012 by Reporter Leave a Comment

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.

australia budget 2012 2013 features glance pdf document download

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

Technorati Tags: 2012 budget summary 2012 budget day fy 2012 budget passed greek 2012 budget details 2012 budget date 2012 budget planner 2012 budget papers 2012 budget night

Filed Under: 2012, Australia, Budget 2011, Government, World Tagged With: 2013, Australian Budget, Budget papers, Download, Federal, GOV, Uk budget, Union

The Budget for Australians 2011

May 12, 2011 by Reporter Leave a Comment

The “2011 AUSTRALIAN Budget” is here  and as predicted  by swan they would be some cuts ,  the budget was quite boring  with just some nip and tucks in a few places.It  was nothing extra ordinary , in fact some people  might  also say it was a bit over cautious , not  to upset too many people.

australian-flag  budget 2010 2011

Commodities boom to being back Budget 2011 in surplus in 2 years time

While the australian budget  focused on providing jobs , it also made it  tougher for the dole bludgers to get more out of the system. It did not have much changes in relation to property investment and real estate in the 2011 budget , for which many might have had a sigh of relief.

So to make it simple lets just focus on what is going up in the budget  and what is going down in this 2011 Budget

Australia Budget 2011 -What is going up? (Less benefits or costs increase)

  • Means test for high income earners for family payments (Less benefits)
  • Low income tax offset  taken away to discourage  people doing investment in the name of the children to take adavantage of the Investment offset for teens
  • Entrepreneurs’ tax offset is gone
  • Cuts to public service funding ( efficiency dividends)
  • Families: Family Tax Benefit will be cut off when children turn 21 instead of 24, saving $29.2 million over four years

Australia Budget 2011 -What is going Down? (More benefits received & Costs decrease)

  • More apprenticeships (jobs & training) available to the Australian people ( by creation of the $558 million National workforce development fund)
  • $5000 tax break for small business vehicles.
  • $2.2 bn given for mental health sector services over five years
  • Raise tax free threshold to $16,000 for low income earners
  • Lower tax on bank savings with 50% discount on upto $1000 interest income
  • Tax returns simplified with a $500 standard deduction for work-related expenses, without need of receipts, rising to $1000 from 2013.
  • Applicants for disability support pension will first go on the dole and then have to prove that they cannot get work.
  • Company tax falls to 28 per cent for small business from 2012-2013.
Budget predictions 2011

Considering  that  Australia has been hit with  the “yasi cyclones” in the eastern states  majorly affecting the booming  mining industry and  agricultural industry  and also the “fires and floods in western Australia” , this budget back to surplus in  2years is a good suprise.

  • Economy expected to grow by 3.25 % in 2010- 11
  • Unemployment rate set to fall to 4.75 % in 2011-12

The full Australian budget paper is available at  http://www.budget.gov.au/ and get the “WA State Budget over here”

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Filed Under: Budget 2011 Tagged With: 2011-12, Australia, Australian Budget

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