Tax payers, small businesses and seniors in Calwell will benefit from announcements made in the Federal Budget last night (May 11).
Federal Member for Calwell Maria Vamvakinou said the wider community will also gain from the broader Federal funding allocations such as the Nation Building Program.
Ms Vamvakinou said when the Budget’s third round of tax cuts kicked in, families, working people and seniors will be paying less in income tax. This means those earning $20,000 will pay $750 less in income tax; those earning $50,000 will pay $1750 less; those earning $80,000 will pay $1550 less. Thanks to the tax cuts from 1 July 2010, low income workers in Calwell will be able to earn up to $16,000 and not have to pay income tax (up from $11,000 in 2007-08).
“I believe the tax cuts are a real benefit to low income and part time workers, in particular mums working part time in Calwell, who will now be able to earn a lot more income without having to pay income tax,” Ms Vamvakinou said.
The tax changes will also increase the income threshold for eligible senior Australians who can tax free income from $29,867 to $30,685 for singles, and from $25,680 to $26,680 for each member of a couple.
The 10,290 small businesses in Calwell will enjoy a tax break. The businesses will now be able to instantly deduct the cost of assets valued at up to $5,000. The company tax rate will reduce from 30 per cent to 28 per cent from July 1, 2012.
Ms Vamvakinou was also pleased the Budget funding will ensure the continuation of the Community Legal Centre-Family Relationship Centre (CLC-FRC) partnership pilot, which provides legal advice and assistance to separating families.
Our local budding sports stars will have double the chance to tap into the Australian Government’s Local Sporting Champion’s fund. Up to $18,000 will be available for youth sports stars wanting to compete in state and national events. It will mean 24 individual grants and two team grants for Calwell.
As part of our National Solar Schools Program, eight schools in the electorate will receive a share of more than $400,000, which will assist them in taking practical action to combat climate change.
As part of the Roads to Recovery program, Hume City Council will receive an extra $894,331 to assist them in maintaining and upgrading local roads. This brings the level of funding to $4,471,656.The ongoing Western Ring Road upgrade project will receive an additional $89 million as part of the $1.2 billion project. With an additional $2.2 billion over five years to create the National Health and Hospitals Network, the Government will provide $950 million to increase the capacity of emergency departments to reach a four hour emergency department target.
“I am pleased about the Budget announcements and I’m sure they will be of benefit to our local community,’’ Ms Vamvakinou said.
Media contacts: Marianthi Kypuros or Basem Abdo on (02) 6277 4249.
