Ross Vasta MP

Federal Member for Bonner

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2017 Budget Great News for Bonner

Wednesday, 10 May 2017

2017 Budget Great News for Bonner

The Turnbull Government’s 2017 Budget is delivering on Health, Child Care, Aged Care, Employment and reform on Banks, just to name a few, to ensure our nation’s economy to secure better days ahead for the hard working people of the Bonner electorate.

The Member for Bonner, Ross Vasta said our economic growth has been hard won but we shouldn’t take our success for granted. My government is helping hardworking Australians in Bonner with a plan for more and better jobs, by securing the essentials they rely on and by easing cost of living pressures.

 

Tackling Housing Affordability and Cost of Living Pressures

Mr Vasta said the government has listened to the Australian people and is delivering tougher measures to ease housing affordability pressure for all.

The 2017 budget allows first homebuyers to save for a deposit in their superannuation, and attract generous tax concessions, introduces superannuation incentives for older Australians downsizing, funding for homelessness and social housing, especially for domestic violence victims and youth. As well as this the government has launched tougher real estate rules for foreign investors to make sure they pay their fair share of tax and don’t leave properties empty.

Mr Vasta said “the Turnbull Government understands that the cost of living is a priority for Australians, whether it is being able to afford a roof over your head, or pay for rising power prices.  And that’s why the 2017 Budget tackles these issues head on.”

“As well as tackling housing costs my government is also making child care more accessible and affordable – providing the greatest level of assistance to those who need it most.

“With more than 10,210 families in Bonner who rely on childcare it’s vital that we make sure all children have access to important early education facilities regardless of their circumstances at home.”

 

Strengthening Small Business and Increasing Employment

The 2017 Budget delivers greater opportunities for small business. We are extending the $20,000 instant asset write off for local small businesses for a further twelve months and lifting the threshold to $10 million.

The government is also delivering small and medium business tax cuts helping the 15,722 business in Bonner-with turnovers of up to $50 million if they are incorporated, and up to $5 million if they are unincorporated.

A new $1.5 billion Skilling Australians Fund announced by the Turnbull Government will provide new opportunities for local jobseekers, students and industry in Bonner. Mr Vasta said the Government is also establishing a $60 million Industry Special Mentoring for Australian Apprentices scheme that will help people complete their training.  The Skilling Australians Fund will create an extra 300,000 apprenticeships in priority industries and occupations across Australia and that’s great news for the Bonner.

“These assurances for the business industry will enable local business owners to employ more people and invest more back into our economy Australia in my electorate of Bonner,”  said Mr Vasta.

“We are investing in building Australia with over $70 billion to transport infrastructure to reduce congestion, revitalise our cities and grow our regions, using a combination of grant funding, loans and equity investments.” 

“A $10 billion transformational National Rail Program will deliver rail projects across the nation that better connect our cities, regions and create new opportunities for housing, and grow the economy.”

 

Coalition Committed to Health

The 2017-18 budget includes a $10 billion package to invest in Australia’s health system including an additional $2.8 billion for public hospitals to reduce wait times.

The government has increased funding for mental health services and research as well as investing $10.8 million to fight childhood cancer.

“In this budget we have guaranteed Medicare with a Medicare Guarantee Fund that will only pay for Medicare and medicines.

“We’re also delivering a fully funded NDIS, by implementing a .5% increase to the Medicare levy in 2019 to ensure a secure future for Australian’s with disability which is great news for the 2,379 people in Bonner who are reliant on disability support services,” Mr Vasta said.

 

Greater support for vulnerable Australians

The government has further strengthened its support for mental health and suicide prevention with a package of over $170 million, including enhanced access to mental health services for Veterans and their families.

“Providing additional support for veterans is vital to ensuring we support our returned servicemen and women and the sacrifices they make for our country. In particular it’s great to see that this support will directly impact more than 1,024 veterans and their families residing in Bonner,” said Mr Vasta.

The government has extended the domestic violence unit pilot, established as part of the Women’s safety package whilst also ensuring ongoing funding for community legal centers and investing further into legal assistance. Mr Vasta said he is delighted to be a part of a government that is delivering for the betterment of others.

The right choices to make sure the government lives within its means

The Government will continue to ensure multinationals pay their fair share of tax. Our actions have already raised $2.9 billion in tax liabilities this financial year against a group of just seven large multinational companies, and are expected to raise more than $4 billion in total this financial year from large public groups and multinationals.

“We will also continue to focus on stopping people trying to take an easy ride on our welfare system by strengthening mutual obligation requirements for payments and cracking down on those seeking to get out of those obligations,” Mr Vasta said.

“The Turnbull Government is also making our financial system better for customers and taxpayers through greater competition, accountability and fairness. This will include a Banking Executive Accountability Regime; an investigation into financial system competition and a levy on large banks, securing $6.2 billion to support budget repair.”

“The Turnbull Government has made the right choices to secure better days ahead for all Australians and their families.”

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