Winners and losers from the 2017 federal budget (AAP Video)
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ECONOMY
Deficit of $29.4 billion in 2017/18 but projected surplus of $7.4 billion in 2020-21
Increased Medicare levy adding $8.2 billion to the bottom line for three years
Wage growth expected to increase from 2 per cent to more than 3 per cent over the next four years
Up to $13 billion of "zombie" 2014-era cuts to education and welfare will be dumped to shore up AAA credit rating
The economic outlook does look brighter and projections for the deficit are encouraging but significant risks remain
BIG BUSINESS
Extra funding for the Tax Office's taskforce charged with clawing back $15b from the black economy
"Google tax" expected to raise more than $4b from big business and multinationals
Banks subject to bigger fines of $50m-$200m for serious misconduct
Six-basis-point levy on the five largest banks, raising $6.2b over the budget and forward estimates
The Treasurer was quick to point out that the banks and multinationals are the only ones who will be paying more tax on July 1
SMALL BUSINESS
Small business $20,000 instant asset write-off extended for second year
Businesses with a turnover of up to $50m will receive a company tax cut
Annual temporary work visa levy of $1200 or $1800 per worker a year, and one-off permanent skilled visa levy of $3000 or $5000
The lifeblood of the economy receives a welcome boost which should spur job creation
HOUSING
First-home buyers can salary sacrifice for deposit from pre-tax pay
Retirees who sell family home can add non-concessional $300k into super
"Ghost tax" of up to $5000 for foreign buyers who leave homes empty
Community housing associations can borrow money at lower rates of interest
Increase capital gains discount by 60 per cent for investments in affordable housing
$1b to fund deals within cities to develop urban areas
To fix housing you need a lot more houses, but in the long term these measures are likely to see prices continue to rise
COMMUNICATIONS
Gambling ads banned during live sports broadcasts before 8.30pm, and for five minutes before and after start of play
$130 million annual licence fee for broadcasters will be scrapped in favour of a $40 million spectrum fee
Repealing the 75 per cent reach and cross-media ownership laws
Changes will allow traditional media companies to compete with new companies. Previous laws were outdated
DEFENCE
Australian Federal Police get $321m to recruit anti-terrorism/trafficking specialists
$350m for mental health services for veterans
Defence spending is expected to rise from $32.4b in 2016-17 to $58.7b in 2025-26
Extra funding will help security agencies protect Australians at home and abroad
INFRASTRUCTURE
Melbourne-Brisbane inland rail link gets $8.4b with construction to begin this financial year
Second airport for Sydney at Badgerys Creek to get $5.3b over 10 years
$844m to upgrade Bruce Highway
$1b for Victorian projects including $500m regional rail fund, $30m for airport link business case
$1.6 billion for infrastructure in WA, including funding for better road access to the Fiona Stanley Hospital precinct
Big-ticket items to boost economic growth, jobs and the national psyche
HEALTH
Medicare rebate to be lifted, costing $2.2b over four years
Medicare levy to be raised by 0.5 percentage points in two years' time
Extra $2.8b for hospitals
$1.4b over four years for medical research
Price cuts for taxpayer-subsidised medicines, which will save $1.8b over five years
$115m for mental health
Better funding of Medicare and the NDIS provides security and insurance for all of us. A fair outcome
FAMILIES
One-off energy payments for pensioners ($75 for singles, $125 couples)
Almost $430m to support universal access to pre-school for all four-year-olds
$5.5m vaccination campaign. Family Tax Benefit A payments reduced by $28 a fortnight if children aren't fully immunised
Expanding ParentsNext program to help young parents get jobs
$3.4m over two years to expand Specialist Domestic Violence Units
Little extra funding for families hurt by Medicare levy increase
WELFARE
Demerit point system means payments deducted if job interviews skipped
$375m to extend homelessness service funding to the states
Drug-testing trial will have 5000 welfare recipients put on voucher system if they test positive
Some of the more controversial measures announced but little actual change
ENERGY
Government in talks to buy back share of Snowy Hydro from Victorian and NSW governments
$90m to secure access to Australian gas for domestic use
$37m for new energy infrastructure and gas pipeline in South Australia
The Snowy Hydro initiative had already been announced and there is little more here to get excited about
EDUCATION
Extra $2.2b over four years for schools
Reintroduction of Gonski-style needs-based funding formula
HECS debt threshold lowered to $42,000
University students face 7.5 per cent tuition hike
Universities hit with 2.5 per cent - or $2.9bn - efficiency dividend over two years
A welcome injection of cash for schools, but university students are worse off with higher fees and faster payments
