In his first budget press conference in lock up this afternoon, Treasurer Scott Morrison declared that Australians had “moved on” from declaring budget winners and losers.

“The old way of looking at winners and losers, and who’s targeted and who’s not targeted, that’s not what this budget is about. This budget is about a national economic plan for jobs and growth.”

But just in case Australia hasn’t moved on, Crikey has compiled a list of the winners and losers of ScoMo’s first and potentially only budget:

 

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Winner: 

Commercial broadcasters win $163.6 million in reduced licensing fees.

 

Loser:

The ABC loses approximately $5 million per year over the next four years.

 

Winner:

Someone making $86,500, who will get a tax cut, with the middle income tax bracket raised from $80,000 to $87,000.

 

Loser:

People earning below $80,000, who get no tax cut. Morrison attempted to state that those people can look forward to better superannuation benefits.

“All of these things help people do better today to do better tomorrow.”

 

Winner:

Younger people on welfare. They get a delay in having to join Work for the Dole from six months to 12 months, and have options for training and paid internships.

This is also a winner for companies that want to employ, but not pay people.

 

Loser:

New people coming onto Newstart, who miss out on the carbon tax compensation. Morrison pointed out that the government had decided not to take this amount away from people who had been receiving it but it made no sense for people who were only just starting to get welfare to get compensation for a tax that no longer existed.

Morrison said the $1.5 billion saved from this would go to plug a hole in the National Disability Insurance Scheme.

 

Winner:

Beer and cider lovers. The government is extending a brewery refund scheme to domestic distilleries and producers of “low strength fermented beverages such as non-traditional cider” from July 1, 2017. This will cost $9 million in lost revenue.

 

Loser:

Teenagers and fancy people. Wine and alcopops miss out on this refund.

 

But …

But viticulturists is not left empty-handed. While the government is cutting the wine equalisation tax rebate from $500,000 to $290,000 by July 2018, for a saving of $250 million, it will be giving the industry $50 million over four years to promote wine tourism in Australia and Australian wine overseas.

 

Winner:

Public hospitals get an additional $2.9 billion in 2017-2018 and 2018-2019 as announced after the last COAG meeting.

 

Loser:

Younger sick people get more funding at the cost of $1.2 billion being cut from aged care over the next four years.

 

Winner:

The Australian Federal Police receives an extra $148.5 million over five years for “a scoping study for enhanced protective capabilities”, as well as additional officers and upgraded security.

 

Loser:

Multinational companies that dodge tax. There will be a 40% tax on diverted profits. The government is strengthening transfer pricing rules and will raise the penalty for multinationals with global revenues over $1 billion for failing to adhere to tax disclosure obligations from $4500 to $450,000. Some $678.9 million has also been given to the ATO to establish a “Tax Avoidance Taskforce”, and there will be improved protections for whistleblowers.

 

Winner:

Businesses with revenues between $2 million and $10 million. The government is raising the threshold for what is considered a small business from revenue of $2 million to $10 million, costing the government $2.2 billion over the forward estimates.

 

Loser:

Travellers will now be hit with an extra $20 for adult passports, $10 extra for child or senior passports, and $54 extra for people wanting to get priority processing on a passport application. This will bring in an extra $172.9 million for the government. The government is going to charge commercial operators of the Sydney, Melbourne and Perth airport for “premium border clearance services” for rich passengers who want to get out of the airport quickly.

I subscribe to Crikey because I believe in a free, open and independent media where news and opinions can be published that I can both agree with and be challenged by.

As a Crikey subscriber I always feel more informed and able to think more critically about issues and current affairs – even when they don’t always reflect my own political viewpoint or lived experience.

Jess
Singapore

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