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Joe Hockey will hand down his first Budget tonight. Here’s where the pain is expected

DO you drive a car? See a doctor? Are you a pensioner or on a disability pension? Or do you earn more than $180,000? If so, you need to read this.

Budget preview with David Koch

JOE Hockey will tonight hand down what he describes as a “contribute and build” Budget, asking all Australians to share the burden of repairing the books.

High income earners will cop a deficit levy, motorists a fuel tax hike and there will be a new co-payment to see a doctor.

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Despite pledging no new taxes before the election and planning to introduce all three, the Treasurer denies the government will be breaking promises.

Instead he and Prime Minister Tony Abbott insist the 2014-15 Budget is about sharing the pain fairly to fix and grow the budget.

Here’s a quick guide to where the pain will be felt tonight:

If you drive:

The Government plans to change the fuel excise, previously frozen at 38.1 per cent by former Prime Minister John Howard.

Money from the increase will help go towards a $40 billion investment in new roads by the Federal Government, in partnership with a $42 billion injection by the states and private sector.

If you want to see a doctor:

A GP co-payment of $7 is tipped to feature in tonight’s Budget books.

Pensioners won’t be exempt, but it’s expected concession cardholders won’t have to pay after 10 visits a year.

Not even the sick can escape ... look out for the $7 GP co-payment.
Not even the sick can escape ... look out for the $7 GP co-payment.

If you’re a pensioner:

Prime Minister Tony Abbott says he won’t impose immediate changes to pension eligibility thresholds in this term, but will take them to the next election.

But the Coalition has decided to increase the pension age to 70 by 2035, building on a scheduled increase under Labor to 67.

If you’re on a Disability Support Pension:

If you’re aged under 35 you’re expected to face tougher assessments in a bid to encourage those who can work to work.

Under scrutiny ... anyone on a DSP aged under 35 will face tougher assessment.
Under scrutiny ... anyone on a DSP aged under 35 will face tougher assessment.

If you currently pocket Family Tax Benefits:

Tonight’s Budget is tipped to reduce the maximum eligibility threshold for Family Tax Benefits to $100,000.

If you’re a school leaver:

You will have to wait six months before applying for welfare as part of a push to encourage young people to find work.

Better get a job quick ... school leavers will be left with no financial support from the government for the first 6 months.
Better get a job quick ... school leavers will be left with no financial support from the government for the first 6 months.

If you earn more than $180,000:

You will be slugged with a deficit levy to help repay the nation’s debt.

It’s expected to be a two per cent rise on incomes more than $180,000.

If you’re a public servant:

Your job could be on the line with dozens of government agencies to be axed or merged.

3000 positions are expected to be cut from the Tax Office alone.

Jobs to go ... Tax Office positions are among public service jobs expected to get the axe.
Jobs to go ... Tax Office positions are among public service jobs expected to get the axe.

If you’re a politician:

The Remuneration Tribunal have agreed to a request to freeze MPs salaries for a year.

Originally published as Joe Hockey will hand down his first Budget tonight. Here’s where the pain is expected

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Original URL: https://www.couriermail.com.au/business/economy/joe-hockey-will-hand-down-his-first-budget-tonight-heres-where-the-pain-is-expected/news-story/043b69a0bce7b85d1d31c0a11529e765