Australian Budget 2007-08

The 2007-08 Australian budget introduced various reform measures in the area of income tax and concentrated on improving infrastructural facilities. The budget also allocated funds for environmental programs and national security.
Significant fund allocations in various sectors have been made in order to ensure the long term economic growth of the Australian economy. For making these fund allocations, the Australian government utilized the government surplus of $10.6 billion. The salient features of this budget include :
The proposition that all taxpayers of Australia would benefit from several tax cuts in the upcoming four years. These tax cuts would act as work incentives specifically for the part-time and low-income workers.
The budget promised that child care benefit rates would rise and child care tax rebates would be made available from July 1st,2007. The budget also spent $1.6 billion on financing health care programs for the elderly.
The budget proposed an investment worth $22.3 billion towards the Australian roads and railway system in order to improve the infrastructural facilities.
Increased retirement savings for low income workers.
In order to safeguard the nation against terrorism, the budget allocated $702 million for strengthening the national security system.
$342 million was allocated for improvement of rural services and $205 million for providing support to primary producers in these areas.
The budget also promised funds for the purpose of environmental protection. An investment of $10 billion for water conservation was proposed, and the budget introduced rebates for solar panel installation.
$5 billion was allotted in higher education endowment funds in order to provide capital for university research programs.
In this budget, additional 3500 commonwealth scholarships were declared.
The budget also allocated an additional $843 million for improving the quality of teaching in Australian schools.

This website is up for sale at $20,000.00. Please contact 9811053538 for further details.