Budget 2020

Budget Header 6.jpg

The Coronavirus has been a major setback for our community, with just about every household experiencing financial loss.

Nationally, the lost revenue has forced our government to re-prioritise some local projects. However, I will continue working to secure funding for facilities in our community.

This Budget is focused on promoting the national economic recovery through a range of measures which promote spending, investment and job creation, including:

  1. Personal Income Tax Cuts for 11.6 million Australians - up to $2,745 for singles and $5,490 for families.

  2. $500 Economic Support Payment for Seniors and Concession Card Holders - a $250 payment in December, and another $250 payment in March 2021.

  3. Temporary Loss Carry Back for Businesses - meaning businesses can claim back some of the tax paid in the 2018/19 financial year to offset losses incurred up to the 2021/22 financial year.

  4. Expansion of the Instant Asset Write Off - over 99% of businesses will be able to write off the full value of any eligible asset they purchase for their business.

  5. JobMaker Hiring Credit of up to $200 per week for 16 to 35 year olds - estimated to support around 450,000 jobs for young people.

  6. 50% Apprentice Wage Subsidy - to get young people into jobs and to ensure there is a skills pipeline to meet the future needs of employers.

My WA Liberal colleagues and I have been working together to secure a fairer share of funding for our State:

  • Western Australians will receive an increase of 15.7% in federal funding, with total payments to WA increasing by $5.2 billion over the forward estimates, compared with the 2019-20 budget.

  • GST payments to WA are estimated to be $2.8 billion in 2020-21 plus a $1.5 billion transitional GST top-up payment.

  • Health and Hospital funding to WA has increased by $184.5 million compared with the 2019-20 Budget.

  • Housing and Homelessness funding to WA has increased by $4.4 million compared with the 2019-20 Budget.

The Morrison Government is committed to rebuilding our economy and securing Australia's future, and with your continued support, I am committed to Always Working for Moore.

Nathan Keehan