2017 Australian federal budget: Difference between revisions
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== Infrastructure, transport and energy == |
== Infrastructure, transport and energy == |
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== Education == |
== Education == |
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University funding will be a reduced by 2.5%. University fees will go up by $2,000 to $3,600 for a four-year course, an increase of 1.8% in 2018, and 7.5% by 2022. |
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From 1 July 2018, the income level at which HECS debt repayments start will be reduced, from $55,000 to $42,000. |
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== Defence == |
== Defence == |
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== Health == |
== Health == |
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Revision as of 23:32, 21 May 2017
 | This section needs to be updated. (April 2017) |
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| Submitted | 9 May 2017 |
|---|---|
| Submitted by | Turnbull Government |
| Submitted to | House of Representatives |
| Parliament | 44th |
| Party | Liberal/National Coalition |
| Treasurer | Scott Morrison |
| Website | www.budget.gov.au |
|
‹ 2016 2018› | |
The 2017 Australian federal budget is the next federal budget to fund government services and operations for the 2017/18 financial year. The budget was presented to the House of Representatives by Treasurer Scott Morrison on Tuesday, 9 May 2017. It is the second budget submitted by the Turnbull Government.[1]
Taxation
The Medicare Levy has been raised from 2% to 2.5% of taxable income, taking effect on 1 July 2019. An interbank levy of 0.06% imposed on the five biggest banks (Commonwealth Bank, Westpac, National Australia Bank, ANZ and Macquarie) is expected to generate $6.2 billion over forward estimates. Broadcasting license fees are no longer in effect, reducing $90 million in license fees for free-to-air broadcasting networks.[2]
The budget Ended the "deficit levy" of 2% on personal incomes over $180,000.
Expenditure
Commonwealth funding for schools will increase by $18.6 billion over 10 years from 2017 to 2027. The Australian Government will invest $5.3 billion into the construction of the Second Sydney Airport over 4 years from 2017 to 2021.[2]
Social security and welfare
Infrastructure, transport and energy
Education
University funding will be a reduced by 2.5%. University fees will go up by $2,000 to $3,600 for a four-year course, an increase of 1.8% in 2018, and 7.5% by 2022.
From 1 July 2018, the income level at which HECS debt repayments start will be reduced, from $55,000 to $42,000.
Defence
Health
Opposition and crossbench response
Critical reception
References
References
- ^ "Budget 2017-18". Budget 2017-18. Retrieved 9/5/17.
{{cite web}}: Check date values in:|access-date=(help); Cite has empty unknown parameter:|dead-url=(help) - ^ a b "Federal budget 2017: Winners and losers". Australian Broadcasting Corporation. Retrieved 9/5/17.
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