201505.14

Budget 2015 and Dunkley: Giving locals the tools to have a go


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Thursday 14 May 2015:

The 2015 Budget is about giving all of us the tools to have a go and achieve our best. Dunkley small businesses, our roads, job seekers and families are the big winners. As a passionate Dunkley resident, I am excited about the opportunities this Budget presents for us and what we as a community can achieve together.

Small Business

It has been an honour to craft the Budget’s small business package, which is the biggest in our nation’s history. We want to fire up the economy with more small businesses thriving, purchasing and employing.

Supporting local small business and family enterprises is a clear priority as it is all about the jobs available in our community.

The issues and challenges facing small business were made all the more vivid and real when Kate and I owned our small business in Mornington. That experience and my interactions with other local business owners reinforced my determination to do whatever I could to support the hard working men and women of small businesses.

A few of the key measures in the $5.5 billion small business package which will help local small businesses are:
• A tax cut (a 1.5 per cent discount for small business companies, and 5 per cent discount for unincorporated businesses).
• From now until 30 June 2017, the ability to be able to fully and immediately claim on tax every business item up to $20,000 as a tax deduction – for example furniture, computers, a coffee machine.
• The ability to immediately claim on tax the professional costs of starting a business, rather than having to do it over five years. Examples include legal and accounting fees.
• Ensuring that a Capital Gains Tax liability is not triggered when simply restructuring a business to set it up for the future.

More information on the small business package is available on my website: www.brucebillson.com.au

Farmers

In addition to the small business package, the Commonwealth will provide $70 million so primary producers will also be able to claim water facilities, fodder storage and fencing as an immediate tax deduction from 1 July 2016. This will greatly help our farmers and enable them to purchase items they need for their business earlier than would otherwise be possible.

Roads

Maintaining our roads and making sure they are safe is an ongoing focus of mine.

In this year’s Budget, Frankston and the Mornington Peninsula have received more than $3.3 million to improve and maintain roads for the safety of the community. This includes:

• An additional $100,000 to install a signalled pedestrian crossing and associated safety measures on Nepean Highway, near Tower Road and Volitans Avenue in Mount Eliza. This brings the total I have secured for this project to $400,000 and contributes toward a solution to the traffic and road safety concerns that I have been highlighting about Mount Eliza Village for a number of years.

Blackspot funding of $767,000 I previously secured for the installation of a roundabout at
Mount Eliza Way will also improve safety in this area.

• Over $1 million to Frankston City Council under the Roads to Recovery program.

• Almost $2.2 million to Mornington Shire Council under the Roads to Recovery program. One of the projects includes widening of Mount Eliza Way and drainage works at a cost of around $800,000.

The Coalition Government has delivered on its promise to double the Roads to Recovery funding from the previous financial year.

Frankston Foreshore Precinct

The Frankston Foreshore Precinct project will be great for the community and encourage tourism and investment.

Under the Community Development Grants Programme $937,500 has been allocated under this Budget to Frankston City Council to contribute to the redevelopment of the precinct. This brings the total Commonwealth Government contribution to $1.2 million, which delivers on one of my election commitments.

Works are progressing and are anticipated to be completed by November 2015. So far work has included the car park, sea wall installation, foundations and civil works.

Jobs

Like many communities, in Mornington and Frankston we need more jobs and more people employed, particularly our youth.

In our first year in office, around a quarter of a million new jobs were created. This is three times more jobs than those created by Labor in their last year. But there is more work to do.

The small business package is designed to create jobs. I recently announced that the Mornington Peninsula had been selected to take part in a pilot program to give employers incentive to hire unemployed youth.

As part of this year’s Budget, new measures will focus on making job seekers more employable, reducing the costs of taking on new staff, and bringing job seekers and job providers together.

This includes a $331 million Youth Employment Strategy and an $18 National Work Experience programme.

Part of the Youth Employment Strategy will be a Transition to Work programme to help disengaged young people, aged 15 to 21 years, become job-ready. Participants will be provided with intensive support from community-based organisations.

Childcare

Families using child care in 2017 on family incomes of between $65,000 and $170,000 will be around $30 a week better off. Those on higher incomes will, on average, continue to receive the same level of support.

Pensions

More than 170,000 pensioners with modest assets will have their pensions increased by an average of $30 per fortnight. There will be no change or higher pensions for 90 per cent of pensioners.

The Government has also taken off the table last year’s Budget measure to link pension increases to the Consumer Price Index (CPI).

The Government is committed to making the pension sustainable and providing it to those who need it most.

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For more information on how these and other Budget measures will benefit Dunkley residents, contact Kristie Lavery on 0466 205 206.

More general details on the Budget are available at www.budget.gov.au