The 2012-13 Budget is based on Labor values and delivers for the Illawarra community, Federal Member for Cunningham, Sharon Bird, said today.
“This budget delivers assistance to families, pensioners, the unemployed and the vulnerable in my electorate.
“It delivers assistance to small businesses to re-invest in their businesses and help create new jobs.
“The Government has increased investments in skills and training to benefit workers and small businesses.
“It delivers on the next phase of critical infrastructure development in the Illawarra region with a new investment in the Maldon-Dombarton rail line.
“It delivers health initiatives such as extending the National Bowel Screening program to include screens for people turning 60 years of age in 2013 and 70 years of age in 2015.
“I am proud of the initiatives in this budget, it is a Budget firmly based on Labor values,” Ms Bird said.
What the budget means for the people of Cunningham:
• 7150 families expected to receive $410 a year for each child in primary school and $820 per year for each child in high school - $7.4 million of assistance.
• 8000 families will receive an increase of up to $600 in Family Tax Benefit A from July 1 next year.
• 9516 young people, single parents and unemployed will receive a Supplementary Allowance to help meet the cost of utilities with singles receiving $210 and couples receiving $350.
• Approximately 47,000 workers will receive a tax cut from 1 July 2012.
• An estimated 4,000 workers will no longer pay tax due to an increase in the tax-free threshold.
• 22,900 workers earning up to $37,000 will receive up to $500 towards superannuation accounts.
• 45,500 workers will increase superannuation benefits from 9 percent to 12 percent increasing their retirement incomes.
• 15,100 small businesses are eligible for the instant tax write-off for each asset worth up to $6500. The first $5000 spent on a new vehicle will also be able to be written-off.
• $25.5 million towards the Maldon-Dombarton rail link project with $20 million allocated in 2012-13 and a further $5.5 million allocated in 2013-14.
• $1.04 million towards local roads for Wollongong City Council.