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The ups and downs of 2019 Budget
Lois Lee | 승인 2019.04.04 13:17

The Coalition just released the 2019 Federal Budget ahead of the 2019 federal election in May. 

Josh Frydenberg budget is committed to putting more money back into Australian families, while affecting those who may wish to enter Australia. 

Regardless of the election results, low to middle-income earners of between $18,200 and $126,000, which are more than 10 million Australians, will receive some form of a tax cut. 

Those who earn between $48,001 and $90,000 will also receive a significant tax relief, with $1080 cash back in a lump sum after their July 1 tax return.  This is extra $550 back to the taxpayers as the tax offset has been doubled. 

Small Businesses will benefit with the instant asset write-off being increased from $25,000 to $30,000. This will be available to companies with a turnover of up to $50 million. 

Moreover, apprentices will receive $524 million skills package, creating 80,000 apprenticeships with each receiving $2,000 in payment. 

Early childhood education sector will also benefit with a further $435 million investment, as its access will be extended for another year until the end of 2020. 

However, for those entering Australia, the permanent migration target has been reduced by 30,000 with a cap of 160,000. According to the Budget, there will be 108,682 places in the skilled stream and 47,732 places in the family stream. 

In addition, there will be a 5.4 per cent increase to the visa application fee from 1 July. This is estimated to generate over $275 million over the next four years. 

Further, refugees arriving in Australia will need to wait 12 months before they can access any unemployment services. This is estimated to save $77 million over the four years. 

Lois Lee  edit@hanhodaily.com

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