National News

Federal Budget 2020 - what we know so far

FEDERAL BUDGET - WHAT WE KNOW SO FAR

THE BIG PICTURE

* Scott Morrison and Josh Frydenberg say it will be a "jobs budget" with the aim of driving the recovery out of the first recession since the 1990s

* Estimated budget deficit of over $200 billion

* Debt edging upwards of $1 trillion

* Expected $140 billion in stimulus over four years

* Net migration to be negative for the first time since the 1940s

INFRASTRUCTURE

* $7.5 billion in fast-tracked road and rail projects

* Funding to expand two NSW dams, Wyangala and Dungowan

* $53 million funding for gas infrastructure as part of a national plan

* $211 million for domestic fuel security facilities

* More flexible rules for the Northern Australia Infrastructure Facility to invest

HIP POCKETS

* Likely bringing forward of personal tax cuts

* 2.5 million pensioners to get extra help to make up for an inflation-related rise not going ahead

* Extra 10,000 first home buyers to be able to get a loan to build or buy a newly built home with a deposit of as little as five per cent

* HomeBuilder package likely to be extended

* No changes to the JobSeeker dole payments.

Government wants more data on economic conditions before deciding

* Capital gains tax exemption for granny flat arrangements

BUSINESS

* $112 million in fringe benefits tax changes to ease burden on small business

* Consideration of a business investment allowance

* Wage incentive for small and medium-sized businesses to take on new workers

* $1.5 billion manufacturing strategy

* $800 million aimed at helping individuals and businesses work online

* Subsidies for the wages of 100,000 new apprentices over a year

* $53 million funding for television and film production and new content rules

* Possible rule changes around "loss carry-back" for businesses

* Consideration of reversing cuts to research and development tax breaks

* Cost of retraining soon-to-be redundant workers to be exempt from fringe benefits tax

HEALTH

* Extension of telehealth and e-prescription services

* Extra funding for aged care, ahead of the receipt of the royal commission report

* New strategy to get young people out of residential aged care

* $9 million for research into cancer in children and young adults

REGIONS

* $100 million for new Regional Recovery Partnerships (projects in areas hit by drought, bushfires and coronavirus)

* $30 million for the Regional Connectivity Program (local telecommunications projects)

* $50 million Regional Tourism Recovery initiative (assist businesses in regions heavily reliant on international tourism)

* $200 million for an additional round of the Building Better Regions Fund

* $50 million extra in rebates for farmers seeking to put in bores and dams

EDUCATION

* Extra $326 million to provide 12,000 more university places for domestic students

WELFARE

* $7.6 million for parents experiencing stillborn babies or the death of a child under 12 months of age

* 700 new safe places for women and children escaping domestic violence under $60 million "safe places" initiative

ENVIRONMENT

* $61.7 million for nature-based tourism.

© AAP 2020