2011 Australian federal budget: Difference between revisions
Felix Dance (talk | contribs) Reverted to revision 482158815 by Ordinary Person: Removing politically slanted vandalism. (TW) |
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| parliament = [[Australian federal election, 2010|43rd]] |
| parliament = [[Australian federal election, 2010|43rd]] |
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| treasurer = [[ |
| treasurer = [[Wayne Swan]] |
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| surplus = |
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| deficit = $ |
| deficit = $20.3 billion |
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The '''2011 to 2012 Australian Federal Budget''' was released on the 10th of May |
The '''2011 to 2012 Australian Federal Budget''' was released on the 10th of May 2011, which featured the theme of '''Providing Opportunity, Demanding Responsibility'''.<ref>http://www.smh.com.au/business/federal-budget/treasurer-wayne-swans-budget-speech-20110510-1eh8z.html</ref> Treasurer [[Wayne Swan]] delivered an address to the House of Representatives outlining major initiatives and programmes of the budget. This is the first budget to be delivered by the Australian Commonwealth Government since [[Julia Gillard]] assumed the role of [[Prime Minister]]. |
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==Total receipts== |
==Total receipts== |
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[[File:Revenue2011.png|thumb| |
[[File:Revenue2011.png|thumb|Pie graph showing revenue as reported in the 2011-12 Australian federal budget]] |
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Total expenses for 2011-2012 is expected to be $ |
Total expenses for 2011-2012 is expected to be $365.8 billion, which is an increase of 1.0 percent from estimated expenses as reported by the Mid-Year Economic and Fiscal Outlook 2010-2011. |
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===Revenue Summary=== |
===Revenue Summary=== |
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*$150,890 million - Individuals Income Tax |
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*$10 - over all areas |
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*$76,650 million - Company and petroleum resource rent taxation |
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*$51,900 million - Sales taxes |
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*$20,714 million - Non-tax revenue |
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*$17,180 million - Petroleum excise |
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*$9,330 million - Superannuation taxation |
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*$9,150 million - Other excise |
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*$7,520 million - Customs Duty |
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*$3,760 million - Fringe Benefits taxation |
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*$2,867 million - Other taxation |
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==Spending and Expenditures== |
==Spending and Expenditures== |
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===Spending Summary=== |
===Spending Summary=== |
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* $121- Social Security and Welfare |
* $121,907,000,000 - Social Security and Welfare |
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* $96 - General Government Services |
* $96,797,000,000 - General Government Services |
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* $59 - Health |
* $59,858,000,000 - Health |
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* $29 - Education |
* $29,870,000,000 - Education |
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* $21 - Defence |
* $21,277,000,000 - Defence |
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* $14 - Industry and Workforce |
* $14,843,000,000 - Industry and Workforce |
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* $13 - Infrastructure, Transport and Energy |
* $13,221,000,000 - Infrastructure, Transport and Energy |
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* $8 - Community Services and Culture |
* $8,044,000,000 - Community Services and Culture |
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200,000,000,000 - Tyson Peautagitama's disability |
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==Significant Cuts== |
==Significant Cuts== |
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Many significant cuts were made by the Australian Government in the |
Many significant cuts were made by the Australian Government in the 2011-12 federal budget. The government will phase out the dependent spouse tax offset, which will save $755 million. $1.1 billion dollars will be saved from increasing the public sector efficiency dividend, while $470 million will be saved by removing access to the Low Income Tax Offset for the unearned income of minors. |
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===Welfare=== |
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Before the release of the federal budget, speculation was arising about crackdowns on the welfare system. On the |
Before the release of the federal budget, speculation was arising about crackdowns on the welfare system. On the 5th of May 2011, Prime Minister Gillard announced a proposal to force teenage mothers back into secondary education on or before their child turns one. If the mothers refused to return to their appropriate schooling, their social security payments would be cut. The Prime Minister defends the policy by saying that those recipients are at a lifetime of disadvantage if they do not return to school by the required time.<ref>http://www.theaustralian.com.au/national-affairs/toughen-rules-on-teenage-mums/story-fn59niix-1226050764546</ref> |
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The |
The Gillard Government’s first budget has been strongly based on the changes to the welfare system. In a push to put more people in work and to lower unemployment by refining who is a worthy recipient of welfare and better targeting of family payments. This will provide savings of approximately $2 billion. Higher income earners will lose more than $5 billion in welfare benefits and concessions. |
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==Non Budget Expenditure== |
==Non Budget Expenditure== |
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Revision as of 06:31, 22 March 2012
 | This article may need to be rewritten to comply with Wikipedia's quality standards. (April 2009) |
| Parliament | 43rd |
|---|---|
| Treasurer | Wayne Swan |
| Deficit | $20.3 billion |
| Website | http://www.budget.gov.au/ |
|
2012› | |
The 2011 to 2012 Australian Federal Budget was released on the 10th of May 2011, which featured the theme of Providing Opportunity, Demanding Responsibility.[1] Treasurer Wayne Swan delivered an address to the House of Representatives outlining major initiatives and programmes of the budget. This is the first budget to be delivered by the Australian Commonwealth Government since Julia Gillard assumed the role of Prime Minister.
Total receipts
Total expenses for 2011-2012 is expected to be $365.8 billion, which is an increase of 1.0 percent from estimated expenses as reported by the Mid-Year Economic and Fiscal Outlook 2010-2011.
Revenue Summary
- $150,890 million - Individuals Income Tax
- $76,650 million - Company and petroleum resource rent taxation
- $51,900 million - Sales taxes
- $20,714 million - Non-tax revenue
- $17,180 million - Petroleum excise
- $9,330 million - Superannuation taxation
- $9,150 million - Other excise
- $7,520 million - Customs Duty
- $3,760 million - Fringe Benefits taxation
- $2,867 million - Other taxation
Spending and Expenditures
Spending Summary
- $121,907,000,000 - Social Security and Welfare
- $96,797,000,000 - General Government Services
- $59,858,000,000 - Health
- $29,870,000,000 - Education
- $21,277,000,000 - Defence
- $14,843,000,000 - Industry and Workforce
- $13,221,000,000 - Infrastructure, Transport and Energy
- $8,044,000,000 - Community Services and Culture
Significant Cuts
Many significant cuts were made by the Australian Government in the 2011-12 federal budget. The government will phase out the dependent spouse tax offset, which will save $755 million. $1.1 billion dollars will be saved from increasing the public sector efficiency dividend, while $470 million will be saved by removing access to the Low Income Tax Offset for the unearned income of minors.
Welfare
Before the release of the federal budget, speculation was arising about crackdowns on the welfare system. On the 5th of May 2011, Prime Minister Gillard announced a proposal to force teenage mothers back into secondary education on or before their child turns one. If the mothers refused to return to their appropriate schooling, their social security payments would be cut. The Prime Minister defends the policy by saying that those recipients are at a lifetime of disadvantage if they do not return to school by the required time.[2] The Gillard Government’s first budget has been strongly based on the changes to the welfare system. In a push to put more people in work and to lower unemployment by refining who is a worthy recipient of welfare and better targeting of family payments. This will provide savings of approximately $2 billion. Higher income earners will lose more than $5 billion in welfare benefits and concessions.
Non Budget Expenditure
The budget does not capture all of the spending commitments made by the Australian Commonwealth Government. Costs associated with commitments such as the National Broadband Network are dealt with separately
