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Australia is coming back. Doctors and nurses on the front line. Teachers and students in the virtual classroom. Businesses, big and small, keeping the economy moving. ‘Team Australia’ at its best. A nation to be proud of. We have come so far since the height of the pandemic. Treasurer Josh Frydenberg announced the Federal Budget 2021 speech on Tuesday May 11 Treasury feared unemployment could reach 15 per cent and the economy contract by more than 20 per cent. This would have meant 2 million Australians unemployed. It would have been the equivalent of losing the agriculture, construction, and mining sectors. Mr. Speaker, today the reality is very different. ....
The second “pandemic” budget was delivered by Australia’s Treasurer Josh Frydenberg on Tuesday. “Australia is coming back,” he said. “The Australian spirit has shone through.” Showcasing the Australian economy, he said the deficit for 2021-22 will be at $106.6 billion – $53 billion lower than forecast in the last budget in October 2020. “Unemployment is at 5.6 per cent, lower than when the Coalition came into government,” he said. “The COVID-19 recession will see our deficit reach $161bn this year, falling to $57bn in 2024-25. With more Australians back at work, this year’s deficit is $52.7bn lower than was expected just over six months ago in last year’s budget. Net debt will increase to $617.5bn or 30 per cent of GDP this year and peak at $980.6bn or 40.9 per cent of GDP in June 2025.” ....
Liberal Party of Australia Securing Australia’s recovery Australia is coming back. Doctors and nurses on the front line. Teachers and students in the virtual classroom. Businesses, big and small, keeping the economy moving. ‘Team Australia’ at its best. A nation to be proud of. We have come so far since the height of the pandemic. Treasury feared unemployment could reach 15 per cent and the economy contract by more than 20 per cent. This would have meant 2 million Australians unemployed. It would have been the equivalent of losing the agriculture, construction, and mining sectors. Mr. Speaker, today the reality is very different. ....
Budget 2021: Few surprises for property investors By Fergus Halliday 11 May 2021 | 1 minute read SHARE 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. ....
Share on Twitter The federal budget will include $10 billion in funding for infrastructure projects to be spent over the next decade. The funding aims to make roads safer, reduce travel times and support thousands of jobs. The government has detailed where half the money will be spent, with the remainder to be announced in Tuesday night s budget. Deputy Prime Minister Michael McCormack said the extra funding was a key plank of the government s plan to help Australia bounce back from the coronavirus pandemic. More money for infrastructure means more jobs, more local procurement and a better future for businesses across the country, Mr McCormack told reporters in Canberra. ....