WA families to pay more under Treasurer Mike Nahan's first State Budget. Source: PerthNow
FAMILIES have been slugged with a $324 increase and the Barnett Government will sell off billions of dollars worth of assets to claw back debt. Here's a five-minute guide to the big decisions.
HOUSEHOLD annual fees and charges will go up more than $300 as part of a tough WA Budget that will also see the Barnett Government raid the Royalties for Regions scheme and sell major assets.
Releasing his first State Budget, Treasurer Mike Nahan made no excuses for a tough Budget - revealing state debt now topped the $20 billion mark.
Part of the Budget will see first home buyers no longer be exempt from the stamp duty tax for homes under $500,000. The new threshold will be $430,000.
● Electricity: 4.5pc increase — $62.88 cost increase to representative household
● Water: 6pc increase — $84.41 cost increase to representative household
● Public transport: 4pc increase — $91 cost increase to representative household
● 20pc increase in student public transport fares
● Motor Vehicle Registration: 3pc (plus abolition of $36 private vehicle concession) – $9.08 cost increase to representative household
Total additional cost to representative household: $324.18 — "Less than $1 a day," the Treasurer said.
WA Budget 2014 Source: PerthNow
THE TAB, Port Hedland's Utah Point facility, Kwinana bulk terminal, Perth Market Authority, wastewater plants and former hospital sites could all be sold-off to help reduce state debt. Treasurer Mike Nahan said the State Government had not committed to selling the public assets to the private sector, but had identified a number now "under consideration".
● Surplus: $175m in 2014-15, $5m in 2015-16
● Revenue: $28.68b in 2014-15 (2.6pc growth)
● Expenditure: $28.5b in 2014-15 (2.6pc growth)
● State Debt: $24.9b in 2014-15, $26.19b in 2015-16
● Asset investment program: $6.73b in 2014-15
● Royalties for Regions cap of $1b expenditure per year
Asset sell-off
● "Surplus" hospital sites — Princess Margaret Hospital, Swan District Hospital, Shenton Park, part of Royal Perth Hospital
● Utah Point facility at Port Hedland Port
● Kwinana Bulk Terminal
● TAB
● Perth Market Authority
● WA BUDGET: ASSET SELL-OFF
FIRST homebuyers of established properties have been hit in the Budget, with the stamp duty levy threshold lowered from $500,000 to $430,000.
Stamp duty is not levied in WA on the first $500,000 spent on a first home purchase, but that threshold will now drop to $430,000 in the State Budget.
Treasurer Mike Nahan also announced a 10 per cent across the board increase in land tax. Last year's budget saw land tax rise 12.5 per cent.
It comes after the Barnett Government last September slashed the First Home Owner Grant for people wanting to buy established properties by more than half to $3000.
● FIRST HOMEBUYER BLOW IN STAMP DUTY LEVY CHARGE
● Unemployment: 5pc (2013-14), 5.5pc (2014-15)
● Perth CPI: 2.75pc in 2014-15 (down from 3pc in 2013-14)
● Population growth forecast: 2.1pc (down from 2.6pc in 2013-14)
AN extra 550 school teachers will be recruited next year to keep up with WA's rapidly growing education system.WA Budget 2014: Education at a glance Source: Supplied
Treasure Mike Nahan announced today the $4.6 billion education budget would not suffer any further cuts, and included $188 million more in funding than last year's budget.
Today's 2014-15 State Budget papers reveal $40 million in funding for the new teachers, as well $1.16 billion over the next four years to build new schools and upgrade existing infrastructure.
● EDUCATION SPARED FURTHER CUTS
WA Budget 2014: Health at a glance Source: Supplied
TAXPAYERS will fork out an additional $40 million for information and communications technology at Fiona Stanley Hospital, it was announced today.
But just months before the $1.8 billion hospital is due to open, the full running cost of the facility and others in our southern metropolitan region remains unknown.
In releasing the state's 2014-15 Budget, Treasurer Mike Nahan said an additional $12.4 million was allocated for ICT at the FSH in 2013-14 along with $27.7 million in 2014-15.
● ANOTHER $40M FOR FIONA STANLEY HOSPITAL
STUDENT public transport fares will increase by 20 per cent from July.WA Budget 2014: Transport at a glance Source: Supplied
And adult two-zone fares are set for a four per cent increase — or an extra $91 a year per household.
The fare increases, included in today's 2014-15 State Budget, will take place from July 1, with student tickets increasing from 50 cents to 60 cents.
More pain for families will come in the axing of the $36 registration fee concession for private vehicles.
This will be abolished from July 1.
In addition, Treasurer Mike Nahan today announced a $365 increase in the Perth Parking Levy, which is paid on all non-residential parking places in the CBD.
● PERTH PUBLIC TRANSPORT COSTS TO RISE
WA Budget 2014: Law and order at a glance Source: Supplied
THE WA Government is shaping up for a war with the police union over its refusal to exempt police wages from a statewide cap on new wage agreements.
Treasurer Mike Nahan said all government agencies would be expected to comply with the new state wages policy, which caps all wage increases on agreements negotiated from this year at CPI.
● POLICE WAGES ROW SET TO START WAR
● Land Tax: 10pc across-the-board increase from 2014-15
● Stamp duty rebate for First-Home Owners threshold reduced from $500k to $430k
● Increase to Perth Parking Levy: $365 over two years
WINNERS
* Disability services will get $180 million over four years
* Child Protection services will get $90 million over four years and 58 frontline workers
* Mental health budget up $46 million, or 6.1 per cent, including 136 beds
* Education budget up $188 million, or 4.3 per cent, which will fund about 550 new teachers
* $1.16 billion on upgrading schools and building 19 new schools to the end of 2018
* $812 million over four years for student enrolment growth
* A further 123 buses will be added to Transperth fleet
* $104.8 million to upgrade water and waste water infrastructure
* $84 million for police, up 6.6 per cent, recruiting 550 officers by mid-2017 and spending $25.4 million on a new critical response communication system
LOSERS
* Households slugged on average an extra $324.18 per year for electricity, water, public transport and car registration
* Perth parking levy up $365 phased in over two years
* Stamp duty is currently not levied on the first $500,000 spent on a first home purchase, but that threshold will be lowered to $430,000
* Land taxes, which are below the national average, will rise 10 per cent
* Land tax exemptions for agricultural land will be tightened, with parts of agricultural properties used for processing or other purposes now assessed for land tax
* Landfill levy rates increase
* Public servants will have wages capped at 2.75 per cent in 2014/15 and then 2.5 per cent the following year
Overall, do you think it is a fair Budget?
WHAT DO YOU THINK?
How will the State Budget hit your pocket? Tell us below
Anda sedang membaca artikel tentang
State Budget: Your five-minute guide
Dengan url
https://donyblackedet.blogspot.com/2014/05/state-budget-your-five-minute-guide.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
State Budget: Your five-minute guide
namun jangan lupa untuk meletakkan link
State Budget: Your five-minute guide
sebagai sumbernya
0 komentar:
Posting Komentar