2018 Federal Budget Overview

04 June 2018

On Tuesday May 8th the Federal Government handed down its annual Budget.

There were a number of new and changed measures introduced by the Government which will have an effect on every Australian.

It was disappointing to see the Government persist with measures that will have a negative impact particularly on seniors and pensioners in our community.

This includes raising the age to access the pension to 70 years old, meaning that Australia will have the oldest pension age in the developed world.

It was also confirmed that the Energy Supplement to new pensioners, people with disability, carers and Newstart recipients will also be cut. This will mean a cut of $14.10 per fortnight to single pensioners or $365 a year and a cut of $21.20 per fortnight to couple pensioners or around $550 a year.

There were however some aspects which I was pleased to see the Government announce would continue.

This includes the Stronger Communities Grant Programme for local community groups to access grants between $2,500 - $20,000 to purchase and upgrade equipment. Local groups who have benefited from this in the past include St Vinnies, Forest Lake Rugby Union and local Men’s Sheds.

We also saw the Government announce the School Chaplaincy program would continue. I know this is seen as a highly valuable program for many of our local schools.

And finally the Local Sporting Champions Grant for 12 to 18 year olds competing at state or national sport champions was also confirmed to continue. These $500 grants are great for young athletes and the families who support them.

If you have any questions on how the budget will impact you, or if there is anything I can ever help with please email me at [email protected] or call my office on 3879 6440.