You are watching Kalkine TV live from Sydney. And now we are going to bring you the Top News of the Day, which has a strong focus on the newly released Australian Federal budget for 2021.
• Billions of dollars towards Australian infrastructure will be spent on a state by state basis and is projected to support 30,000 jobs over the next 10 years. This included an additional $15.2 billion to the existing $110 billion already allocated for the next ten years. In NSW to name a few projects $2 billion will be used for upgrading the Great Western Highway, connecting east and west from Katoomba to Lithgow in the Blue Mountains.
• Being a strong platform for the Coalition government Businesses will also continue to get write-off perks. As well as the support for industry particular medical and biotech start ups, small brewers and video gaming, businesses overall with a maximum of $5 billion turnovers will have the opportunity to write off any eligible asset, including work equipment and vehicles. This extension of the business perks will give eligible businesses the chance to write off any losses incurred up to June 2023 against earnings going back to 2018-2019.
• Australian farmers are also in the spotlight with expenditure of $200 million set aside for National Soil Strategy, which includes rebates to eligible farmers to share soil testing results. With a further $370 million towards biosecurity measures to prevent the spread of diseases and pests.
• With a strong focus on young families, and in addition to the funds allocated to reducing costs of childcare with families having more than one child under five years of age. Preschools are promised $1.6 billion over the next four years which will see at least 15 hours a week paid for by the government in the aim to increase attendance of children to reach government outcome measure goals.
• 100 rescue flights sent around the world to bring home 17,000 stranded Australians, over the next twelve months. This is out of the 34,500 citizens who have registered to Department of Foreign Affairs and Trade (DFAT) they are keen to return to Australia.
• With Covid-19 affecting so many emerging economies the government will allocate $335