Federal Budget 2018: Companies to be paid $10,000 to hire older Aussies to end age-discrimination

PAYING companies a $10,000 wage subsidy to employ older Australians, in a move to stop age-discrimination, and cutting off welfare to criminals and terrorists who have an outstanding search warrant, are among the new measures announced in tonight’s Federal Budget.

PAYING companies a $10,000 wage subsidy to employ older Australians, in a move to stop age-discrimination, and cutting off welfare to criminals and terrorists who have an outstanding search warrant, are among the new measures announced in tonight’s Federal Budget.

Aside from tax reform, the Federal Budget centred on empowering older Australians, with $2.2 billion in new healthcare and employment funding, taking the Government’s total aged-care package to $5 billion.

To counter age discrimination in the workforce, the government is providing a wage subsidy of $10,000 for employers who hire older Aussies.

There is also funding to re-skill seniors under a program called Skills and Training Incentive.

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A Pensions Loans Scheme and Pensions Work Bonus will support plus 65-s who choose to stay in the workforce.

Companies will be paid a $10,000 subsidy to employ older Australians, in a move to stop age-discrimination.

There is also an increase of 14,000 new home care places over the next four years, so that people are not forced to move into an aged-care facility.

Money has also been provided for mental health support services to combat loneliness and depression for those in residential aged care facilities.

Treasurer Scott Morrison delivers the 2018 Budget in the House of Representatives tonight. Picture: AAP

The Budget also contains money for upgrading airport security at 64 regional airports and increasing the presence of police and border force at major domestic and international airports.

There are new measures where the ATO will return lost superannuation to workers and exit fees will be scrapped on superannuation companies, while young workers will no longer have to pay for life-insurance through their super-fund.

The 2018 Budget.

There will also be a crackdown on the black economy by new laws banning all cash payments of over $10,000.

In a long-awaited move, that will be welcomed by the community, criminals and terror suspects will finally be cut-off from receiving welfare.

There are currently about 18,000 criminals, including crooks on the run on an outstanding arrest warrant, that are receiving taxpayer-funded welfare support payments.

Treasurer Scott Morrison announced the new measures in the Budget. Picture: Kym Smith

In a significant development for the cruise-ship industry, $300,000 has been put towards a study to identify sites for new cruise terminals, with the Overseas Passenger Terminal at capacity.

The study will examine Botany Bay, despite major cruise companies pushing for shared use of Garden Island in Sydney Harbour.

There will be several moves to try and collect taxes from digital businesses based overseas that are run in Australia.

Offshore-based hotel accommodation websites will now have a GST exemption scrapped to level the playing field in a move that will bring in an estimated $15 million over the next four years.

In the next month, Mr Morrison said he will also release a discussion paper to explore ways to tax other digital businesses in Australia, “to bring the digital global economy into the tax net.”