How will the 2015 Budget effect Bathurst’s regional families and communities?

How will the 2015 Budget effect Bathurst’s regional families and communities?

With the government’s release of the 2015 budget, we thought we would take a look at how the changes in this year’s budget may affect rural families and communities in the Bathurst & Central West Regions.

Drought Relief
The government has earmarked more than $400 million in this years budget to go towards drought relief and assistance. Minister for Agriculture Barnaby Joyce had this to say, “Drought is part of the landscape,… and whilst some areas continue to battle severe conditions, as a nation we must better prepare for drought in the long term”.

Measures outlined in the budget include:

  • $250 million in continued funding for the Drought Concessional Loan Scheme for the coming year.
  • $25 million to help combat pest animals and weeds in drought affected regions.
  • $35 million to be introduced in a new grants scheme to drought affected areas.

For more info on further measures to be introduced go to the federal agriculture website.

Fencing, Water & Silo Storage
On top of the new tax breaks to be introduced for small business, Farmers and Graziers will also be able claim further tax write off on fencing, water and feed silo infrastructure.

These new measures were planned to come into effect in July 2016, however, Barnaby Joyce has flagged with treasurer Joe Hockey, the need to bring this forward inline with the other small business initiatives announced in the budget. This concern will be discussed further in the upcoming “Tax White Paper” which is receiving submissions.

Bonus incentive payments for doctors working in remote rural areas will increase, while those working in larger regional centres will decrease in an effort to have a “better balanced” regional health system, according to some regional health groups. This is planned to be done through a new geographical classification of regional areas.

Whether you’re in the market to buy, sell or rent, the friendly team at Ray White Emms Mooney are here to help with all your property and livestock needs. Why not stop by one of our offices in Bathurst, Blayney, Oberon, Cowra or Molong and say hello.