2010 Australian federal budget

Australian federal budget April 2024 October 2017 Australian federal budget 2010–11 Australia Australian federal budget, 2009–10 2009–10 Australian federal budget, 2011–12 2011–12 Coat of Arms of Australia.svg 250px Parliament of Australia 11 May 2010 42nd Australian Labor Party Wayne Swan A$309.9 billion A$356.1 billion $9,273 million A$47.7 billion A$$84.6 billion 2010–11 Commonwealth Budget The 2010 Australian federal budget for the Australian financial year ended 30 June 2011 was presented on 11 May 2010 by the Treasurer of Australia, Wayne Swan, the third federal budget presented by Swan, and the third and final budget of the first Rudd government.https://www.reuters.com/article/idUSSGE64A0AO 17 September 2024 live https://web.archive.org/web/20240917014130/https://www.reuters.com/article/idUSSGE64A0AO/ James Grubel Michael Perry Rob Taylor Sonali Paul Canberra and Melbourne Australia PM says pre-poll budget no "spendathon" 15 January 2012 11 May 2010 Reuters The budget forecast a return to surplus in 2012–13. Projections were based on a successful passing of the Resource Super Profits Tax based on a 40% of mining company profits. The budget featured changes to regulation regarding savings from 1 July 2011. Tax will only have to be paid on half of the total interest earned so as to encourage people to save. There were changes to the way millions of Australians do their tax returns by decreasing their reliance on tax agents.https://www.theaustralian.com.au/news/latest-news/federal-budget-2010-whats-in-it-for-you/news-story/169764adab0dec4924745daaa5b47dc7 live news.com.au https://archive.today/20121230191259/http://www.theaustralian.com.au/business/breaking-news/federal-budget-2010-whats-in-it-for-you/story-e6frg90f-1225865207265 30 December 2012 Federal Budget 2010: What's in it for you Chelsea Mes 15 January 2012 11 May 2010 subscription The Australian Sport in Australia received a "significant" funding boost.She said the new funding would increase the number of Australians participating in sport, while also "delivering significant investment to the all-important development pathway - the vital link connecting grassroots and high performance sport." https://www.abc.net.au/news/2010-05-11/325m-ploughed-into-stagnating-sport-landscape/431290 ABC News 17 September 2024 11 May 2010 17 September 2024 live https://web.archive.org/web/20240917022143/https://www.abc.net.au/news/2010-05-11/325m-ploughed-into-stagnating-sport-landscape/431290 $325m ploughed into 'stagnating' sport landscape Ben Atherton The budget was the first ever to be released under a Creative Commons license.http://www.computerworld.com.au/article/346252/budget_2010_creatively_common_budget_should_used_twitter/ https://archive.today/20121230082405/http://www.computerworld.com.au/article/346252/budget_2010_creatively_common_budget_should_used_twitter/ If it weren’t for Twitter chatter keeping everyone awake, one interesting facet of the whole shebang could have been entirely missed – the fact the Budget was, for the first time ever, released under a Creative Commons license. 30 December 2012 dead Budget 2010: Creatively common budget should have used Twitter Trevor Clarke 25 September 2012 12 May 2010 Computerworld IDG Communications Forecasts Deficit The deficit for the 2010–2011 financial year was expected to be A$40.8 billion or 2.9% of gross domestic product.https://www.smh.com.au/business/budget-highlights-fiscal-strength-20100511-uuvn.html 17 September 2024 live https://web.archive.org/web/20240917022853/https://www.smh.com.au/business/budget-highlights-fiscal-strength-20100511-uuvn.html Budget 'highlights fiscal strength' 15 January 2012 11 May 2010 The Sydney Morning Herald Revenue mix The total revenue was $309.9 billion.https://archive.budget.gov.au/2010-11/fbo/fbo_2010-11_consolidated.pdf live 17 September 2024 https://web.archive.org/web/20240917020524/https://archive.budget.gov.au/2010-11/fbo/fbo_2010-11_consolidated.pdf Final Budget Outcome 2010–11 The Honourable Wayne Swan MP Senator The Honourable Penny Wong Australian Government Part 1: Australian Government Budget Outcome Table 1: Australian Government general government sector budget aggregates 978-0-642-74736-5 2011 17 September 2024 Taxation The Resource Super Profits tax (RSPT) was expected to generate $3 billion in revenue in 2011–12. However Julia Gillard replaced the RSPT with the Minerals Resource Rent Tax (MRRT). The new tax was expected to generate $10.5 billion in revenue during its first two years of operation beginning in 2012.http://www.theaustralian.com.au/politics/henry-defends-integrity-of-super-profits-tax-admits-disappointment-it-was-dumped/story-e6frgczf-1225888000189 dead 30 December 2012 https://archive.today/20121230214434/http://www.theaustralian.com.au/politics/henry-defends-integrity-of-super-profits-tax-admits-disappointment-it-was-dumped/story-e6frgczf-1225888000189 Henry defends 'integrity' of super-profits tax, admits disappointment it was dumped Joe Kelly 21 August 2012 5 July 2010 The Australian AAP By increasing the taxation on mining super profits the company taxation rate can be dropped to 29% in 2013–14 and 28% in 2014–15. Those able to save will receive a 50% tax discount on the first $1,000 of interest earned on their deposits. Expenditure mix The forecast total expenditure is $356.1 billion. General government More than $1 billion is planned to be spent on securing Australian borders.http://www.smh.com.au/business/federal-budget/cost-of-christmas-island-blows-out-to-almost-1b-20100511-uurg.html Cost of Christmas Island blows out to almost $1b 21 August 2012 11 May 2010 The Sydney Morning Herald $120 million will be spent on improving the Christmas Island Immigration Reception and Processing Centre. Airport security is receiving $759 million over four years and to combat illegal fishing $163 million will be spent over the same period. After recommendation which were made in the Ahead of the Game report the budget allocated funds for improving service delivery. More than $1 billion is to be spent on public-sector technology projects, particularly on applications development and simplification of interacting with clients using the internet.https://www.theaustralian.com.au/business/technology/federal-budget-allocates-1bn-to-improve-egovernment-services/news-story/2d2b029f13e4cab5e603216307c0769f https://web.archive.org/web/20101009125039/http://www.theaustralian.com.au/australian-it/federal-budget-allocates-1bn-to-improve-e-government-services/story-e6frgakx-1225867918870 9 October 2010 live Federal budget allocates $1bn to improve e-government services Fran Foo 25 September 2012 18 May 2010 subscription The Australian Australian Transaction Reports and Analysis Centre is to receive extra funding so it can target of serious and organised crime, tax evasion and fraud. Social security and welfare Compulsory superannuation rates increased from 9% to 12%.http://www.abc.net.au/news/2010-05-12/swans-no-frills-budget-fails-to-thrill/431652 17 September 2024 live https://web.archive.org/web/20240917023738/https://www.abc.net.au/news/2010-05-12/swans-no-frills-budget-fails-to-thrill/431652 Swan's no frills budget fails to thrill 17 January 2012 12 May 2010 ABC News Infrastructure, transport and energy $652 million was allocated to the Renewable Energy Future Fund which will develop solar, wind, geothermal and clean coal technologies.https://archive.budget.gov.au/2010-11/additional/budget_at_a_glance_2010_11.pdf 17 September 2024 live https://web.archive.org/web/20240917024233/https://archive.budget.gov.au/2010-11/additional/budget_at_a_glance_2010_11.pdf Budget At A Glance 2010–11 Key Initiatives of the 2010‑11 Budget Australian Government 15 January 2012 http://www.abc.net.au/rural/regions/content/201005/2896885.htm?site=southqld https://web.archive.org/web/20100521050009/http://www.abc.net.au/rural/regions/content/201005/2896885.htm?site=southqld 21 May 2010 dead Budget 2010 Arlie Douglas 15 January 2012 12 May 2010 ABC Rural Australian Broadcasting Corporation According to the Clean Energy Council the purpose of the fund is to "leverage private venture capital by encouraging partnerships between the Government and the private sector in the commercialisation of new renewable technologies and to encourage energy efficiency measures".http://www.energymatters.com.au/index.php?main_page=news_article&article_id=879 dead https://archive.today/20121230131051/http://www.energymatters.com.au/index.php?main_page=news_article&article_id=879 30 December 2012 Australia's Budget – Renewable Energy Future Fund Announced 15 January 2012 11 May 2010 Energy Matters As part of the national road-building program New South Wales received the largest share at $717 million, then Queensland with $539 million and $260 million in Victoria. Education Funding for an extra 70,000 vocational education places has been provided for in the budget. Defence Defence spending was boosted $4.3 billion. $9.7 million was to be spent on combating domestic terrorist threats.http://www.abc.net.au/news/2010-05-11/43b-to-bolster-national-security/431192 17 September 2024 https://web.archive.org/web/20240917024944/https://www.abc.net.au/news/2010-05-11/43b-to-bolster-national-security/431192 live $4.3b to bolster national security Ben Atherton 25 September 2012 11 May 2010 ABC News Money was allocated for the establishment of the Counter Terrorism Control Centre and on an improved and more secure passport issuing system.http://finance.ninemsn.com.au/pfmanagingmoney/tax/8128361/govt-to-spend-9-7m-fighting-extremism Govt to spend $9.7m fighting extremism 25 September 2012 11 May 2010 ninemsn 9News Finance https://web.archive.org/web/20160304022937/http://finance.ninemsn.com.au/pfmanagingmoney/tax/8128361/govt-to-spend-9-7m-fighting-extremism AAP 4 March 2016 dead dmy-all Health $2.2 billion in new funding was allocated to the National Health and Hospitals Network after agreement was reached with the states. $355 million was to be provided for the establishment of GP Super Clinics. An increase of 25% on the tax for cigarettes is expected to raise $5 billion over five years to help fund primary health care expenses. Payments will be made eligible so that every doctor's practice in the country may employ a nurse. These rebates were previously only available in rural area and were capped at $40,000.https://www.dailytelegraph.com.au/doctors-and-nurses-lead-revolution-in-federal-budget-/news-story/79f05d112e8b9c3cd7c590c1f961b5a8 dead https://web.archive.org/web/20240917025426/https://www.dailytelegraph.com.au/doctors-and-nurses-lead-revolution-in-federal-budget-/news-story/79f05d112e8b9c3cd7c590c1f961b5a8?nk=977f2e3d10bfbaba0c0ad68c078fb313-1726541666 17 September 2024 Doctors and nurses lead revolution in Federal Budget Sue Dunlevy 25 September 2012 10 May 2010 The Daily Telegraph Aged care received a boost of $132 million. Some of the money will be spent on investigating a national licensing and regulation system for personal care workers and $90 million was allocated to upgrading the qualifications of aged care nurses and personal care workers.http://www.anfvic.asn.au/campaigns/news/24556.html https://web.archive.org/web/20120328055110/http://www.anfvic.asn.au/campaigns/news/24556.html 28 March 2012 dead Federal Budget 2010: a good start for aged care nurses, carers and residents 1 June 2010 Australian Nursing Federation (Victorian Branch) 21 August 2012 $467 million has been set aside for the provision of electronic health records to those who want it.http://www.dailytelegraph.com.au/budget-2010-11-at-a-glance/story-e6frevp9-1225865208066 Federal Budget 2010–11: quick guide 23 August 2012 11 May 2010 The Daily Telegraph https://archive.today/20121230111450/http://www.dailytelegraph.com.au/budget-2010-11-at-a-glance/story-e6frevp9-1225865208066 30 December 2012 dead Changes to the Pharmaceutical Benefits Scheme will see $2.5 billion being saved over five years from the beginning of the 2010–11 financial year. Community services and culture Elite sports in Australia were allocated $237 million over four years and $71 million was planned to support community sports.http://www.heraldsun.com.au/news/special-reports/winners-and-losers-in-the-2010-federal-budget/story-fn5idf17-1225865231443 dead 30 December 2012 https://archive.today/20121230175756/http://www.heraldsun.com.au/news/special-reports/winners-and-losers-in-the-2010-federal-budget/story-fn5idf17-1225865231443 Winners and losers in the 2010 Federal Budget 23 August 2012 11 May 2010 Herald Sun AAP Opposition and crossbench response Opposition Leader Tony Abbott focused his attack on the mining industry tax, indicating he would rescind the tax if elected.http://english.peopledaily.com.cn/90001/90778/90858/90863/6984814.html Australian Opposition responses to the latest budget 15 January 2012 14 May 2010 People's Daily dead https://web.archive.org/web/20160814113950/http://en.people.cn/90001/90778/90858/90863/6984814.html 14 August 2016 Shadow Treasurer Joe Hockey claimed the budget was "based on false assumptions".http://www.abc.net.au/news/2010-05-12/federal-budget-a-house-of-cards/431336 17 September 2024 But Opposition treasury spokesman Joe Hockey said the budget was "based on false assumptions". live https://web.archive.org/web/20240917024013/https://www.abc.net.au/news/2010-05-12/federal-budget-a-house-of-cards/431336 Federal budget a 'house of cards' 17 January 2012 12 May 2010 ABC News Hockey suggested the budget was too reliant on a "great big new tax" and lacked any serious reform.http://www.heraldsun.com.au/news/special-reports/joe-hockey-slams-federal-budget-2010-as-reckless-spending-spree/story-fn5idf17-1225865291025 https://archive.today/20121230203302/http://www.heraldsun.com.au/news/special-reports/joe-hockey-slams-federal-budget-2010-as-reckless-spending-spree/story-fn5idf17-1225865291025 30 December 2012 "The Budget's return to surplus relies on a great big new tax on Australia's resources sector, not tough decisions," Mr Hockey said. dead Joe Hockey slams Federal Budget 2010 as 'reckless spending spree' Felicity Williams 21 August 2012 12 May 2010 Herald Sun Reception The election year budget was described as an exercise in restraint that contained few surprises. The budget was faulted because it relies on strong terms of trade, demand from Asia, in particular China and a global recovery. It was praised by health and financial services sectors. The Australian Medical Association welcomed the extra funding for health. Catholic Health Australia reacted positively to the measures aimed at training and retaining medical and aged care staff.http://www.cha.org.au/news/media-releases/64-federal-budget-a-boon-to-sustainable-aged-care.html https://archive.today/20121127192727/http://www.cha.org.au/news/media-releases/64-federal-budget-a-boon-to-sustainable-aged-care.html 27 November 2012 dead Federal Budget a boon to sustainable aged care Catholic Health Australia 25 September 2012 The Business Council of Australia was disappointed the MRRT would be used to return to surplus. See also Australia Australian national debt Henry Tax Review References 2 External links 2010 Budget speech Federal budget Category:Australian budgets Category:Rudd government Australian federal budget Category:May 2010 in Australia