Gold Coast families and small businesses have been the big winners from the Morrison Government’s 2021 Federal Budget, which focused on a jobs-led recovery to secure Australia’s comeback post-COVID.
We are putting more money back in the pocket of low and middle income earners with an additional tax cut. More than 10 million Aussies - including 2 million Queenslanders - will benefit by up to $1,080 for individuals or $2,160 for couples.
This means more money to spend in local businesses, giving them the confidence to take on an extra worker, offer an extra shift or buy a new piece of equipment.
The Government will also extend the temporary full expensing and the loss carry back measure - announced in last year’s budget - for another year.
Gold Coast businesses suffering amid international border closures will be supported, with a commitment of $274.6 million for travel agents, tour operators, business events, zoos and aquariums - to remain viable and ready to welcome visitors as domestic travel activity increases and international travel restrictions are eased.
Further 2021-22 Budget measures include:
- Investing in skills and training to fill skills shortages and to provide Australians with the skills they need to get a job;
- Investing in more infrastructure to boost the nation’s productivity and to create more jobs;
- Backing our manufacturing sector to diversify our economy and to create more jobs;
- Record funding for schools, hospitals, aged care, mental health and the NDIS.
To cut the cost of living for around a quarter of a million families and to help boost workforce participation, the Government is making an additional $1.7 billion investment in child care.
The changes target low and middle income earners - with around half the families set to benefit having a household income under $130,000. Importantly it lowers the disincentive to take on an additional day or two of work for many families.
Under my own portfolio we are building a more secure and resilient Australia. More than $2 billion is being invested to bolster national security, improve community safety and further streamline our migration system.
If you missed the Treasurer's speech tonight - you can read it here - and find more information about the 2021 Budget here.
Kind regards,
