My recent e-newsletters have focussed primarily on the Covid virus and changes to the relevant rules and regulations in SA. Not much has changed since my last edition except perhaps the rules concerning the “vertical consumption” of liquor outdoors, at a licensed venue, but I am sure most are across that issue anyway.
However, a budget has been delivered this week and I thought a brief summary of the main points as they affect Grey may be useful to you.
The 2020-21 Federal Budget is totally focussed on getting Australians back to work and will provide a huge boost right across the electorate.
MAJOR ANNOUNCEMENTS FOR GREY
- $100m for the sealing of the Strzelecki Track.
- The allocation of $64m previously announced as an electoral commitment to begin work on the duplication of the Augusta Highway.
- An additional $13m for councils in Grey.
- $5m for the Department of Infrastructure and Transport (DPTI) projects in Grey.
- $15m in 2020-21 to support an upgrade of steel processing and galvanising capability in Whyalla, boosting the regional economy and export opportunities, and supporting local manufacturing.
- $4b JobMaker Hiring Credit that will provide an incentive of up to $200 a week for employers to hire new workers aged 16-35.
- Businesses who take on a new Australian apprentice will be eligible for a 50% wage subsidy lasting until 30 September 2021, regardless of geographic location, occupation, industry or business size.
- Instant tax write-off allowing businesses to deduct the full cost of depreciable assets in the year they are installed.
- Carry-back tax provisions for businesses that have lost profitability but previously paid income tax.
- Tax cuts in the 2020-21 financial year ranging from $1010 to $2,160 for taxpayers.
It provides funding for important local infrastructure, supporting people into jobs and providing incentives to industry to invest in people and equipment.
The investment in our local infrastructure is very significant. In May last year during the election campaign, I committed $64m for the commencement of the duplication of the Augusta Highway between Port Wakefield and Port Augusta. The budget has confirmed that commitment to be boosted to $80m by a state co-contribution. Preliminary planning has begun, and the budget is the green light to get on with the job.
One hundred million is committed to the sealing of the Strzelecki Track. Accompanied by $25m from the state it will be an absolute ‘game changer’ for SA. It will bring the supply contracts for the Cooper Basin back to SA, it will open-up one of Australia’s great inland tourist routes and it will provide access to southern markets for Queensland cattle producers.
Councils are to get a $13m boost through a Local Road and Community Infrastructure grant across the electorate and another $5m for SA Dept of Transport for works in the Grey electorate.
Ferretti International in Whyalla will benefit from $15m to upgrade their steel processing and galvanising capability which along with the recent announcement on our interest in the future of Green Hydrogen Steel, underlines our commitment to the steel industry and augers well for Whyalla’s future.
The budget is unapologetically aimed at getting Australians back to work and leading us out of the Covid recession.
The budget includes tax cuts dating back to July 1 for workers, immediate tax write-offs for businesses investing in new plant and equipment, a carry back loss mechanism for businesses that have lost profitability through the Covid virus, a 50% subsidy for new apprentices and wage assist programs to encourage employers to engage young people under 35 years of age.
I have been told repeatedly by business that the JobKeeper program has kept their doors open. We know the JobSeeker Coronavirus Supplement has enabled families who have lost work to keep some equilibrium and they were absolutely the right policies for the time.
However, we all know that paying people not to work cannot continue indefinitely and it is time to get Australia back to work. That is why we are providing support for businesses to ramp up and expand operations and employ new (or previous) workers. It is also why we have re-instated the mutual obligations associated with the JobSeeker allowance. If people are on JobSeeker they need to contact their Job Provider and re-engage.
FOR MORE INFORMATION
Local governments will have the funding to deliver roads and community infrastructure through the additional $1 billion for the Local Roads and Community Infrastructure Program.
Combined with record levels of investment in health and aged care, a $500 boost for pensioners and the extension of the First Home Loan Deposit Scheme, we have set Australia on a great path to recovery.
For detailed 2020 Budget information visit: https://www.liberal.org.au/budget
If you have any feedback or questions please don’t hesitate to reply to this email or give one of my offices a call on the phone numbers listed below. I always welcome residents’ feedback.
Rowan Ramsey MP
Federal Member for Grey