Tuesday night s Budget includes a $9billion war chest to be used for yet-unannounced purposes - sparking speculation Scott Morrison will call an early election by the end of the year.
The fine print in the budget allows the government to set aside nearly $10billion for unspecified projects which have already been approved by the federal cabinet.
But the Australian prime minister denied on Wednesday morning that allocation in the Budget has anything to do with being re-elected.
He fired up after Labor leader Anthony Albanese accused him of having no real plan beyond getting through the next election .
Among the costly Budget measures is the extension of the low and middle income offset to 10 million Australians at a cost of $7.8billion.
Australian plumbers, carpenters, electricians and farmers have been given a significant boost in the Budget - allowing them to instantly write off the cost of new equipment.
Tradesmen with their own business can buy new utes and immediately claim them as tax deductions as part of the instant asset write-off scheme Treasurer Josh Frydenberg extended for a year in Tuesday s Budget.
Farmers meanwhile can buy new tractors and claim the cost back through the government s full expensing scheme.
Any assets first used or installed by June 30, 2023 are eligible.
Tradesmen and women can buy new utes and immediately claim them as tax deductions as part of the instant asset write-off scheme. Pictured is a construction worker in Sydney on May 11
Almost two million unemployed Australians will enjoy an extra $50 per fortnight as part of a $9.5billion boost to welfare payments revealed in the 2021 Federal Budget.
Treasurer Josh Frydenberg also announced the income-free area will be increased to $150 per fortnight for JobSeeker Payment and Youth Allowance.
This means recipients can have income up to $150 per fortnight before their payments will be decreased.
However to access the bonus, job seekers will be forced to apply for 20 jobs per month, up from the current 15. The new requirements will come into effect from July.
The income-free area has also been increased to $150 per fortnight for JobSeeker Payment and Youth Allowance
News by Benjamin Graham 12th May 2021 5:12 AM The government claims it is strengthening Australia s safety net by increasing the JobSeeker payment for almost two million Australians - while increasing their obligations and giving them intensive activity to do after six months of unemployment. Tuesday s federal budget today states that the government will provide $9.5 billion over the next five years to increase support for people eligible for working-age payments including JobSeeker. For Australians struggling to find work, this means an increase in the base rate of working-age payments by $50 per fortnight from April 1 this year. The increase is expected to benefit 1.9 million Australians, and it applies to people on the Youth Allowance, Parenting Payment, Austudy, ABSTUDY Living Allowance, Partner Allowance, Widow Allowance, Special Benefit and Farm Household Allowance.
Farm Household Allowance Partner Allowance. The partner income test taper rate will return to 60 cents for every dollar above the partner income free area. These changes mean that your rate of payment may vary over the period that includes April 1, 2021. The coronavirus supplement ended on March 31, 2021 and the new JobSeeker rate - after it was lifted by $50 a fortnight - starts from April 1 at $620.80 a fortnight, or $310.40 a week, which is over $44 a day. Research says 110,000 jobs will go across the country this month as JobKeeper comes to an end. Picture: NCA NewsWire / David Geraghty
WORKER MUTUAL OBLIGATION REQUIREMENTS The minimum number of monthly job searches will also rise from 8 to 15. This applies if you re in Jobactive or Disability Employment Services.