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Published 14 May 2013 19:41, Updated 15 May 2013 09:56
Business was hit hard in the budget, providing savings of more than $5 billion.
Business was the big loser from 2013 federal budget but families were also hit hard.
Disabled and carers – $14.3 billion for the national disability insurance scheme
Education sector – $10 billion for Gonski education reforms
The Victorian, NSW and Queensland state governments – $3 billion for road and rail projects
Female directors – $4.3 million to increase the number of woman on boards
Big business and multinationals – hit with $4 billion of tax changes
Medium and large businesses – all will now pay company tax instalments monthly, not quarterly. $1.4 billion to be raised.
Users of trusts – the ATO will seek to raise $380 million by cracking down on wealthy taxpayers using trusts.
Families – baby bonus axed and replaced with increased payment under Family Tax Benefit A. But a planned increase to this benefit has been scrapped and indexation paused again. All up, it’s a $4.8 billion hit.
The coal sector – $274 million of assistance will disappear due to falling carbon prices. All up, $3.4 billion of assistance will go.