10 May 2021
E&OE
Subjects: The major infrastructure investment which forms part of the Federal Government’s National Economic Recovery Plan;
STEPHEN CENATIEMPO
Well, tomorrow night’s Federal Budget will include more than $160 million in funding for infrastructure projects here in the ACT. To talk to us more about it, we’re joined by the Deputy Prime Minister and Minister for Infrastructure, Transport and Regional Development, Michael McCormack. Deputy Prime Minister, good morning.
MICHAEL McCORMACK
STEPHEN CENATIEMPO
A lot of this – or the bulk of this – is previously announced funding. Are you trying to follow the ACT’s lead here by re-announcing stuff that’s already been announced?
$400 million additional funding for the Bruce Highway
$178.1 million for line capacity improvement on the Gold Coast Rail Line from Kuraby to Beenleigh
$126.6 million for stage three of the Gold Coast Light Rail
$240 million for the Cairns Western Arterial Road duplication
$400 million for upgrades to the inland freight route from Mungindi to Charters Towers
$160 million for the Mooloolah River interchange upgrade
$203.4 million for local road and community infrastructure projects, and $261 million for road safety projects
Total - $2 billion
BUDGET EXPLAINED:
NSW, SA snag lion’s share of budget infrastructure spending
By Fergus Halliday
11 May 2021
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1 minute read
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NSW, SA and Victoria have snagged the lion’s share of infrastructure spending in the latest federal budget.
As revealed in the 2021 budget, the government is committing an additional $15.2 billion to infrastructure projects over the next ten years. This will bump the total federal commitment to $110 billion, with the additional spending said to account for 30,000 new jobs over the decade.
At a federal level, both the Local Roads and Community Infrastructure Program and Road Safety Program are being extended for another year at the cost of $1 billion each.
Budget 2021: Few surprises for property investors
By Fergus Halliday
11 May 2021
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1 minute read
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Treasurer Josh Frydenberg has revealed the latest federal budget, and what it means for property investors in regards to capital gains tax, superannuation and negative gearing.
Those with a stake in the Australian property market can sleep easy after the official unveiling of the 2021 federal budget.
Here’s a quick summary of all the schemes, funding and details of the 2021 budget that are relevant to Australian property investors.
Negative gearing and capital gains
While the 2021 budget includes a number of measures relevant to property investors, it doesn’t directly address or change existing arrangements around the critical mechanism of negative gearing nor does it touch capital gains tax.
Prime Minister
The Australian Capital Territory continues to benefit from the Liberal and Nationals Government’s record infrastructure investment, with funding for major new projects to be announced in this week’s 2021-22 Budget, securing Australia’s recovery.
Key projects to be funded include $26.5 million to duplicate the remaining sections of William Hovell Drive, an additional $5 million for Gundaroo Drive Duplication and $2.5 million for upgrades to Beltana Road in Pialligo.
Prime Minister Scott Morrison said these projects will make Canberra roads safer, improve public transport, reduce travel times and support hundreds of jobs.
“From the duplication of Williams Hovell Drive, to supporting the extension of light rail in Canberra – these projects will support more than 200 direct and indirect jobs across the ACT,” Prime Minister Morrison said.