Business

Federal budget at a glance

May 13, 2009

AT A GLANCE

- Single pensioners will receive an extra $32.49 a week and couples will receive an extra $10.14 a week together.

- The qualifying age for the age pension will be progressively increased to 67 years by 2023.

- $91 million for design work of the Sydney West Metro rail line from Central Station to Westmead Hospital, but no new money for an expanded Metro.

- New $600 a year special payment for carers.

- First Home Owners Boost of $7000 for the purchase of existing homes and $14,000 for new homes will be extended by another six months, including three months at the full rate before it is wound back.

- Paid parental leave at the federal minimum wage rate (now $543.78 a week) for up to 18 weeks from January 1, 2011.

- From July 1, 2010, the private health insurance rebate will be reduced for higher income earners, with singles on incomes of more than $120,000 no longer receiving a rebate.

- Superannuation co-contribution cuts will hit mainly lower-income earners.

- $1.5 billion for NSW hospital upgrades including Nepean.

- Rural doctors will receive $130 million for increased incentives of up to $120,000 each to practise in remote areas, including Wilcannia.

- A full-time ambassador for people smuggling issues post will be established. New positions dealing with people smuggling will be set up in Jakarta, Colombo, Islamabad and Kuala Lumpur.

- Asylum seekers will be given the right to work while their applications are being assessed and for the first time they will receive access to Medicare.

- There will be funds for a regional road through the Hunter Valley, but improvements to freight lines between Strathfield and Hornsby have been delayed.

- $1.5 billion to boost Australia's solar energy projects.

- Families will be able to access via the internet in 2009-10 a "child care estimator" to help them make decisions about child care, including out-of-pocket costs.

- The student income support system will be reformed with the parental income test for dependants under Youth Allowance and ABSTUDY increased from $32,800 to $42,559 (for 2009-10). This change is expected to benefit 67,800 students, who will qualify for income support.

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