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Budget 2012 From Both Sides

May 9, 2012 • News

The 2012-2013 budget has been released, and we’d love to hear your thoughts. So we thought it would be best to provide the opinion of both sides. For more information on how the budget affects you and/ or your business, read through the 2012-2013 budget.

Liberal Party says:

Picture: http://www.budget.gov.au

“Julia Gillard and Wayne Swan only have a plan for more borrowing, more taxes and record debt.

Budget 2012 shows:

  • the world’s biggest carbon tax;
  • record net debt of $145 billion;
  • a record new debt ceiling of $300 billion;
  • a $26 billion deterioration in the Budget over the past year;
  • Labor’s fourth massive deficit in four years; and
  • higher unemployment.”

Gillard Government says:

“The $3.6 billion package will deliver much-needed financial relief to families and businesses under pressure in our patchwork economy, through the following measures:

  • A boost in family payments for over 1.5 million families:
  • Families receiving maximum rate of FTB Part A with two or more children will receive an extra $600 a year, or an extra $300 a year if they have one child.
  • Families receiving the base rate of FTB Part A with two or more children will receive an extra $200 a year, or an extra $100 a year if they have one child.
  • More than a million Australians will benefit from a new lump sum Supplementary Allowance to help recipients of payments such as Parenting Payment and allowances, who will receive $210 a year for singles or $350 a year for couples.
  • Businesses will benefit from the introduction of a loss carry-back scheme, which will benefit up to 110,000 companies by up to $300,000.”

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