At a glance
Family tax breaks. Families get $200 worth of tax breaks per child per year, means tested to cut out on incomes between $70,000 and $79,000 depending on the number of children. Single-income families with a child under five get a further $500 per year, cutting out at the breadwinner’s income of $74,000.
Medicare. People on more than $50,000 or families on more than $100,000 to pay an extra 1 per cent Medicare levy unless they take out private insurance. Rebates for people who take out private insurance: Up to $125 a year for singles earning under $35,000; Up to $250 for childless couples earning under $70,000. Up to $450 for families with children earning under $70,000 (or $3000 more than $70,000 for each child after the first).
AUSTUDY. Migrants to wait 2 years before qualifying, stricter means testing. Age of indepdence up from 22 to 25.
Super. Up to 15 per cent surcharge on super for people earning morethan $70,000 a year.
A.C.T. Funds for three major new buildings axed. NCA has large budget cut. Commonwealth grants fall.
PS. Major cuts to Department Administrative Services, DEETYA, DSS, CES and Health, totalling 30,000 jobs in next 18 months.
No extra for Museum of Australia.
Tightening of tax avoidance. Concessions to business on fringe-benefits and capital-gains tax.