Budget 2017 - Not-for-profit sector

There are no measures contained in this year’s Federal Budget that directly affect all not for profit entities. However, there are a number of announcements that will impact on the areas where charities commonly assist, including:
Commitment to fully fund the NDIS.  The Medicare levy will rise by 0.5% to 2.5% from 1 July 2019
Various measures in relation to payments and mutual obligations for job seekers.
Changes to the assessment criteria for Disability Support Pensions in relation to substance abuse
The introduction of a new disability employment services program model. Disability service providers will be subject to increased competition as participants will be able to change their service provider more easily. There will also be a new funding model and indexed provider payments will be introduced.
Provide indigenous prisoners with access to in-prison employment services and provide a voluntary prison-to work program for indigenous prisoners prior to their release.
The overseas aid budget is estimated to be $3.9 billion, up from $3.8 for the current year.
“Gonski 2.0” will result in most schools receiving additional funding.
Restrictions that are contributing to the lack of housing will be eased. A $1 billion National Housing Infrastructure Facility will be established.
Additional funding of $375 million over the next 4 years as part of the new National Housing and Homelessness Agreement to fund services to address homelessness.
From 1 January 2018, increase the CGT discount from 50% to 60% for capital gains derived by individuals on investments in qualifying affordable housing. This measure is aimed at increasing the availability of affordable housing rentals.

Follow the links to read about the sections that are relevant to you and if you have any queries about the impact of these announcements then please don’t hesitate to contact us.

Analysis for the individual
Analysis for business
Superannuation analysis
NFPs and Social Service reform
Retirement, Social Security