Budget2017

Tackling the Rising Cost of Living

The Coalition Government is tackling the rising cost of living by working to make housing, child care and energy more affordable for Australians.

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The Right Choices to Secure Affordable Housing

The Coalition Government is working to keep the great Australian dream alive. There are no silver bullet solutions to making housing more affordable but we are working to help first homebuyers, downsizers and those in need of social housing, by:

  • Allowing first homebuyers to save for a deposit in their superannuation, and attract generous tax concessions
  • Superannuation incentives for older Australians downsizing
  • Funding for homelessness and social housing, especially for domestic violence victims and youth
  • Launching tougher real estate rules for foreign investors to make sure they pay their fair share of tax and don’t leave properties empty
  • Increasing the CGT discount to 60% for affordable and social housing investment
  • Securing new state agreements to require planning reform and delivers affordable housing supply
  • A National Housing Infrastructure Fund and Commonwealth Land Bank to unlock land and infrastructure barriers
  • Allowing negative gearing to continue for mum and dad investors securing their future and increasing rental housing stock.

The Right Choices to Secure Childcare

The $37.5 billion Jobs for Families Child Care Package will provide more affordable and more accessible child care to one million families.

From mid-2018, the single simplified Child Care Subsidy will provide more support for families who need it the most and abolish the annual cap for families earning up to $185,710. An increased annual cap of $10,000 will apply to families earning above this income.

A Plan for Affordable Energy

  • The Coalition Government is securing local access to our local gas resources
  • New power generation, transmission and storage capacity, including Snowy 2.0 pumped hydro
  • The ACCC will police fair pricing in gas and electricity markets
  • More than $3 billion to develop new low emissions technologies

“Our success cannot be taken for granted. We must be determined to secure our opportunities. This Budget is about making the right choices to secure the better days ahead.

Our choices are based on the principles of fairness, security and opportunity. We must choose to focus on growing our economy to secure more and better paying jobs. ”

Treasurer Scott Morrison

Learn more about our plan with regular email updates