Personal Finance > Federal Budget
Big Winners
- First time home buyers grant extended for 6 months
- infrastructure - $22.3bn for roads, rails, ports & broadband
- Retirees - additional $32 pension a week
- Paid parental leave scheme
- Environment - $4.5bn clean energy initiative
- Small businesses - $2.7bn temporary tax break
- Carers - increase of $600 a year per person in care
Big Losers
- Private health insurance rebate will be reduced for higher income earners
- increased qualifying pension age to 67 by 2023
- Medicare levy surcharge increased
- Caps on superannuation concessions to be lowered from $50,000 to $25,000
- Unemployment peaking at 8.5% in 2011
- A $210 billion revenue loss over four years
Where is the Money Going?