Country Liberals Senator for the Northern Territory, Nigel Scullion, said the 2015 Budget is the next step in the Government’s plan to build a strong, safe and prosperous future for Territorians, with Infrastructure, small business, families and pensioners the big winners in the seat of Lingiari.
“I will make sure Lingiari will get its share of the $5 billion in loans available through the Northern Australia Infrastructure Facility with the prime objective of getting more investment for major infrastructure in the north,” Senator Scullion said.
“This complements other infrastructure initiatives including the $100 million Northern Australia Beef Roads Fund, to improve northern cattle supply chains, a vital industry in the NT economy.
“Other infrastructure funding for the Territory includes the Northern Territory Roads Package: $77 million with $35.4 million provided in 2015-16.
“There is also the Regional Roads Productivity Package: $90.0 million with $49.1 million provided in 2015-16.
“The Commonwealth is increasing annual funding for NT hospitals by 29 per cent over the next four years, on top of growth of 17 per cent in 2014-15.
“We are also increasing funding to NT schools by 12 per cent over the next four years, on top of growth of around 30 per cent in 2014-15.
“The NT Government is also benefiting from the abolition of the carbon tax. The carbon tax was costing the NT Government $20 million each and every year.
“Lingiari will also receive funding from the new Stronger Communities Programme to fund small capital projects in local communities.
“Funding of $150,000 per year over two years, commencing in 2015-16, will be available to support projects in Lingiari that deliver social and economic benefits in Australia’s local communities.
“The new $5.5 billion Growing Jobs and Small Business package will help small businesses in Lingiari invest more, grow more, and employ more.”
The 2015 Budget delivers $3.25 billion in tax cuts for small business and $1.75 billion in accelerated depreciation measures in addition to the benefits Australian small businesses are gaining from the abolition of the carbon tax:
• from 1 July 2015, the Government will cut the company tax rate for incorporated businesses with annual turnover up to $2 million by 1.5 percentage points to 28.5 per cent;
• from 1 July 2015, the Government will also provide a 5 per cent tax discount for sole traders, trusts and partnership structures which are unincorporated businesses with annual turnover up to $2 million, capped at $1,000, through their end of year tax return; and
• from now until 30 June 2017, small businesses with 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.
“The 2015-16 Budget has confirmed that Pensions for veterans and their families will continue to increase by the greater measure out of CPI, Male Total Average Weekly Earnings or the Pensioner and Beneficiary Living Cost Index.
“Maintaining the current pension indexation arrangements is consistent with the Abbott Government’s pre-election promise to give DFRB and DFRDB military superannuants aged 55 and over access to the best indexation arrangements out of the three indices.
“This is great news for nearly 200,000 Australians who receive a DVA pension, including about 650 in Lingiari.”
Other Highlights of the Budget include:
• The $4.4 billion Families Package to give parents more choice and opportunity to work;
• Reforms that make our taxation, foreign investment, welfare and individual benefits systems fair and sustainable;
• $1.2 billion in new funding for national security, which builds on the $1 billion announced last year
Senator Scullion said he was delighted that the Budget will help to build a strong, safe and prosperous future for all Australians.
More details on the Budget are available at www.budget.gov.au
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2015-05-14 Lingiairi budget release.pdf