2017 Federal Budget – Roads And Rail To Benefit From $70 Billion Spend
Federal Treasurer Scott Morrison's second budget has laid the foundations for a big spend on infrastructure, including roads, rail and Sydney's second international airport. In the 2017/18 Federal Budget handed down last night, Mr Mor
Federal Treasurer Scott Morrison's second budget has laid the foundations for a big spend on infrastructure, including roads, rail and Sydney's second international airport.
In the 2017/18 Federal Budget handed down last night, Mr Morrison promised a $70 billion infrastructure spend over seven years, of which $10 billion will support rail projects and $5.3 billion will fund the Badgerys Creek airport.
A study for Melbourne's craved airport rail link forms part of the rail spend, but the bulk ($8.4 billion) is destined for the Melbourne-Brisbane rail project to ease the burden on the Newell Highway.
Queensland's Bruce Highway gets an $844 million boost, and a half-billion dollar regional growth package will fund smaller road projects.
So what else is in the 2017/18 budget?
Small Business
Small businesses can still write off $20,000 investments.
This was big news in 2015, and frankly we didn't expect the Turnbull Government to persist with a convenient scheme for small businesses (those that turn over less than $10 million per year) to instantly write off the costs of assets worth up to $20,000. That's good news for companies that want to buy a new (or used) vehicle, particularly as end-of-financial-year sales are just around the corner.
Public Transport