PARRAMATTA and Cumberland Councils have scored more than $20M in the 2020-21 Federal Budget for infrastructure projects.
The Investment in Parramatta/Cumberland infrastructure includes:
- Parramatta City Council will receive over $7.6 million and Cumberland City Council will receive over $7 million under an extension of the Local Roads and Community Infrastructure Program;
- $3.5 million to local councils under the Roads to Recovery Program;
- Cumberland City Council will receive $500,000 for the Stage 1 upgrade of Granville Swimming Centre; and
- Upgrading the intersection of Woodville Road and Parramatta Road under the Pinch Point Program.
Citizens and businesses are set to benefit from lower taxes and business incentives.
Under the 2020-21 Budget, more than 11 million Australians will get a tax cut backdated to July 1 this year.
Lower and middle-income earners will, this year, receive tax relief of up to $2,745.
To calculate how much of a tax cut taxpayers will receive, residents can use the Treasury's tax relief estimator: https://bit.ly/2Ib7ss5.
The Government will expand the Instant Asset Write-Off, allowing 99 percent of businesses to deduct the full cost of depreciable assets in the year they are installed, and allowing companies with a turnover of up to $5 billion to offset losses against previous profits on which tax has been paid.
The government was supporting young people to get back into work through the new JobMaker Hiring Credit.
The $4B JobMaker Hiring Credit will be payable for up to twelve months and immediately available to employers who hire those on JobSeeker aged 16-35.
It will be paid at the rate of $200 per week for those aged under 30, and $100 per week for those aged between 30-35.
