Working families, small business, job seekers and Pacific Highway upgrade big winners in Federal Budget
Federal Member for Cowper Luke Hartsuyker said that working families, small business and job seekers will benefit from the 2015/16 budget.
Mr Hartsuyker said the Budget will lay the foundation for increased growth and opportunities on the North Coast plus ensure the ongoing upgrade of the Pacific Highway,
“This Budget delivers the remaining $4 billion of Federal funds required to complete the duplication of the Pacific Highway by 2020,” Mr Hartsuyker said
“The Pacific Highway upgrade is the largest infrastructure project in regional Australia and is underpinning the ongoing growth and prosperity of our region.
“The $5.5 billion Growing Jobs and Small Business package will complement this major infrastructure investment by targeting incentives for employers and support for young job seekers transitioning from school to work.
“There are new measures which will focus on helping job seekers improve their chances of finding a job and assist employers who hire eligible job seekers. For example a flexible $1.2 billion national wage subsidy pool will include a $6,500 subsidy for employers who employ eligible young job seekers under 30.
“The $330 million Youth Employment Strategy including the $212 million Transition to Work programme will specifically target disengaged young people, aged 15 to 21 years and help them become job-ready.”
Mr Hartsuyker said small business was the economic driver of regional communities and would benefit from a range of new budget initiatives.
“The Budget delivers $3.25 billion in tax cuts for small business and $1.75 billion in accelerated depreciation measures,” Mr Hartsuyker said.
“From 1 July 2015, the Government will cut the company tax rate by 1.5 percentage points to 28.5 per cent. And from today until 30 June 2017 small businesses with a turnover below $2 million can claim an immediate tax deduction for every asset they acquire that is valued up to $20,000 for tax purposes - a substantial increase from the previous $1,000 threshold.
“These measures will encourage investment and create jobs.”
Mr Hartsuyker said a $4.4 billion Jobs for Families package would give parents more choice and opportunity to work.
“This budget supports families by making child care simpler, more affordable, more flexible, and more accessible.
“Having two parents in paid employment has become a necessity for many families. All mothers work hard and many are also in paid employment. The Government will invest an additional $3.5 billion over five years reforming child care assistance to establish a new and simpler Child Care Subsidy.”
Mr Hartsuyker said the Budget also delivered increased investment in local roads and small community projects.
“Funding under the Roads to Recovery programme has been doubled for the 2015/16 year, delivering an extra $8 million commitment to local councils for local road projects.
“The Treasurer also announced a $45 million new Stronger Communities Programme which will fund small capital projects in local communities.
“Our community will receive funding of $150,000 per year over two years, to support projects that deliver social benefits,” Mr Hartsuyker said.
“I will be consulting closely with eligible organisations across the Cowper electorate to identify high‑priority projects. Projects can receive between $1,000 and $20,000 for local projects.”