Indi families, businesses and concession holders are among the big winners from a number of welcome and needed measures announced in the Federal Budget to relieve cost of living pressures, provide tax relief and expand job opportunities.
Nationals Senator for Victoria, the Hon Bridget McKenzie said the 2022-23 Budget highlighted the strength of the economy while realising people are facing higher fuel, food and shipping costs which are stretching household budgets.
Senator McKenzie said in response the Liberal and Nationals Government will implement a number of temporary, targeted and responsible measures to ease these pressures.
“From July 1 over 62,000 low and middle income taxpayers in Indi will receive up to $1,500 and couples up to $3000 a year in tax relief while a new one-off $420 cost of living tax offset will also be implemented” Senator McKenzie said.
“In addition more than 50,000 people in Indi will receive a new one-off $250 Cost of Living payment which will be delivered within weeks,” Senator McKenzie said.
“For the next six months, more than 100,000 car owners in Indi will save 22 cents a litre through the temporary reduction in fuel excise, and as a Victorian rural-based Senator,
I know regional families will appreciate the reprieve from recent fuel price hikes.
“The Liberal and Nationals Government have helped to make the dream of home ownership a reality and this will continue with a doubling to 50,000 places available per year under the Home Guarantee Scheme.
“This will help more single parents to buy a home with a deposit as low as 2 per cent and help more first home buyers with a deposit as low as 5 per cent.
“Small and family businesses are at the heart of our economy and local communities, employing nearly 8 million Australians, and the Liberal and Nationals Government has backed small businesses with the lowest tax rates in 50 years as well as record investment incentives.
“In the Budget, we have gone further, rewarding small businesses that invest in skills and new technology and from now for every hundred dollars a small business spend on training their employees, and they will receive a $120 tax deduction, helping them to become more productive and competitive.
Further to these initiatives, a new $2.8 billion investment to increase take up and completion rates new apprentices by providing $5000 payments, and up to $15,000 in wage subsidies for their employers to take them on, will add to the Government’s long-term economic plan to creates more jobs.
More information on the 2022-23 Budget can be found at www.budget.gov.au
Senator McKenzie: Cath Heidrich 0477 417 516