Federal Budget Made Simple
Australian Federal Budget 2018-2019 states that for those not eligible for National Disability Insurance Scheme (NDIS) but use programs that are transitioning to the NDIS, $92.1 million will be invested to ensure their support continues over the next 5 years.
The NDIS will continue to be supported well into the future by the government.
$30 billion in additional funding for public hospitals between 2020-21 and 2024-25.
$33.8 million to Lifeline Australia to enhance its telephone crisis services and funding for beyondblue and the Way Back Support Service.
$84 million in additional funding for the Royal Flying Doctor Service to improve the availability of dental, mental health and emergency aeromedical services in rural and remote areas.
$20.9 million to improve the health of women, and children in their first 6 years of life.
$1.3 million over three years for Epilepsy Action Australia to establish a national Epilepsy Action Response Service to provide access to high-quality information and expertise on epilepsy, especially in rural and remote areas in Australia.
$10 million over two years to extend the Good Sports Program administered by the Alcohol and Drug Foundation.
$5.4 million over five years to implement improvements to the administration of the Life-Saving Drugs Program, which supports free access to high-cost, life-saving medicines for people with very rare medical conditions.
$154.3 million over five years to support Australians to be healthier by funding and expanding sporting organisations and programs.
For those not eligible for National Disability Insurance Scheme (NDIS)
but use programs that are transitioning to the NDIS, $92.1 million will be
invested to ensure their support continues over the next 5 years.
The Australian Federal Budget 2018-2019 also supports through ‘The More Choices for Longer Life Packages, a number of new policies will be implemented to support people to stay at home longer, remain healthy and independent and have access to aged care.
Initiatives under The More Choices for Longer Life Package include:
14,000 additional high-level home packages will be delivered this year.
$105.7 million over four years (including $32 million from within the existing resources) to support the National Aboriginal and Torres Strait Islander Flexible Aged Care Program.
Aiming to deliver additional residential aged care places and home care packages in remote Indigenous communities.
$60 million in capital investment to support new residential aged care. $61.7 million over two years to make the My Aged Care website easier to use and develop simpler assessment forms for people to access aged care services.
$40 million over four years for aged care facilities in regional, rural and remote Australia.
The Government will establish a new Aged Care Quality and Safety Commission. $253.8 million over four years will be provided to support the functions of the new Commission.
$50 million over two years for a Quality Care Fund to improve the quality of residential aged care and
$32.6 million over four years to enhance the regulation of aged care provider quality to better identify risks and respond more quickly to care failures.
Mental Health for Aging Australians
$82.5 million to fund mental health services for residents of aged care facilities.
$20 million to pilot services for older Australians at risk of isolation to help them remain connected to their community.
Remaining Active and Healthy
$22.9 million over two years to encourage older Australians to remain physically active.
$29.2 million over two years to help the elderly stay independent for longer in their own home by trialling support strategies.
Changes to Pension Work Bonus
$227.4 million to increase the pension work bonus to $300 per fortnight (up from $250 per fortnight). The work bonus will also be extended to self-employed people. This means that the first $300 of income from work each fortnight ($7,800 per year) will not count towards the pension income test.
Changes To Superannuation Contributions
Australians aged 65 to 74 with a total superannuation balance below $300,000 will be able to make voluntary contributions for 12 months after they finish working.
Currently, people aged 65 to 74 must work a minimum of 40 hours in any 30-day period in the financial year in order to keep making contributions to superannuation – this is known as the work test.
The Australian Federal Budget 2018-2019 has outlined a seven-year personal income tax plan including:
Immediate tax offset of up to $530 per year for low and middle-income earners and up to $1,060 for a working couple earning between $48,000 and $90,000 annually.
Taxpayers earning less than $37,000 will only be eligible for a maximum tax offset of $200.
An increase the 32.5% tax bracket to $90,000 providing a tax cut of $125 per year.
By 2024, the government has committed to simplify and flatten the personal tax system by removing the 37% tax bracket entirely.
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