Budget 2009: Key budget measures at a glance
Tuesday, May 12, 2009/
- Increase of the small business tax break to 50% on eligible assets purchased before the end of 2009 for businesses with turnover of less than $2 million.
- $22 billion for transport, energy, communications, education and health infrastructure, including $8.5 billion for road, rail and ports.
- $3.1 billion in innovation spending over the next five years, including a new $1.4 billion R&D tax credit that starts in 2010-11.
- A paid parental leave scheme that starts in 2010-11.
- A reduction of the level that workers can make annual contributions to superannuation at a concessional tax rate. This will fall from $50,000 to $25,000.
- The enlarged first home buyer grant to be extended until 30 September, when it will reduce to $10,500 for established homes and $14,000 for new homes.
- Extension of the Do Not Call Register to cover businesses, fax users and emergency service providers.
- An increase of $30 a week in the pension. The qualifying age will be increased from 65 to 67 gradually, beginning in 2017.
- Budget 2009: Small business tax break boosted from 30% to 50%
- Budget 2009: Exporters get extra funding
- Budget 2009: Do Not Call register expanded
- Budget 2009: $22 billion for infrastructure in budget
- Budget 2009: First home owner grant extended for three months
- Budget 2009: High and middle-income earners hit by changes to private health insurance, super
- Budget 2009: Innovation spending boost, but new R&D tax breaks delayed
- Budget 2009: Funds for textile, clothing and footwear sector