NSW budget 2024: Winners and losers revealed in five-minute guide

Framed as a budget of “must haves” not “nice to haves”, this is a low-wattage plan from NSW’s treasurer Daniel Mookhey. Find out who the winners and losers of this year’s no-frills budget are.

Framed as a budget of “must haves” not “nice to haves”, this is a low-wattage mid-term plan from NSW’s high-energy Treasurer Daniel Mookhey.

He has cast the Commonwealth Grants Commission as the baddies.

Mr Mookhey argues a “rip off” by the CGC has shortchanged the state to the tune of $11.9 billion worth of GST payments over four years.

Still, there is more money for some of the basics, including hospitals, schools and housing.

But other important services crying out for more support, such as the police force, have missed out again.

Here’s the low down on the grinners and groaners in the 2024-25 NSW Budget.

WINNERS

Victim survivors

More than $5.1bn will be spent on 8400 social homes, including ones dedicated to victim-survivors of domestic and family violence.

About 6200 of the homes will be new, with half prioritised for victim-survivors of domestic and family violence.

“Women-led families leaving domestic and family violence are some of the most in need and they cannot wait,” the budget says.

There is also nearly $250 million over four years for reducing violence against women and children and improving support.

This includes $10m for “men’s behaviour change programs”.

Essential workers

More than $650m will be spent on key worker and rental housing.

About $450m of this will be spent in metro areas and the rest in the regions.

More broadly, Mr Mookhey has reaffirmed the government’s commitment to unlocking 21,000 new market and affordable homes.

A further 33,500 social dwellings will be repaired at a cost of $1bn.

“At a time of the greatest housing crisis in a generation, this investment can’t wait,” the budget says.

A number of schools, including in Box Hill where thousands of houses have been built, will receive funding for new schools. Picture: Jonathan Ng

Schools

On top of what was already in the planning, there is funding for five new schools — including two in Box Hill, following campaigning by The Daily Telegraph — as well as two at Huntlee and one at Calderwood.

Money has been earmarked for seven extra upgrades. These are at Riverbank, The Ponds, Austral, Leppington, Googong, Cromer and Yennora.

The sick

From September, a new payroll tax rebate will be available to medical centres if they meet bulk-billing thresholds – 80 per cent in metro areas and 70 per cent elsewhere.

This will cost the state about $180m over four years. It’s hoped the initiative will see more sick people avoid out of pocket costs of $20 or more when they go to the doctor.

Firefighters

The government will permanently fund 286 “existing firefighter positions that were previously unfunded.” This will cost $190m over four years. There is also money for a new fire station at Badgerys Creek.

Treasurer Daniel Mookhey and Premier Chris Minns ahead of the NSW budget. Picture: Newswire / Gaye Gerard

LOSERS

Investment property owners

The government has applied the revenue-raising powers of bracket creep to the investment property market.

The threshold for paying land tax will be held steady, instead of rising with inflation.

That means more people will be caught in the net, increasing revenue by $1.5bn over four years.

Investment property owners and foreigners who own land are considered losers in this year’s budget. Picture: NCA NewsWire / Max Mason-Hubers

Foreigners who own land

In a move that makes money and costs no votes, the government will increase the foreign owner land tax surcharge from 4 per cent to 5 per cent from the 2025 land tax year onwards.

And the foreign purchaser duty surcharge will also increase from 8 per cent to 9 per cent.

Combined, these moves will raise $188m over four years to 2027-28.

Private health funds

Mr Mookhey will bill private health funds for nearly half a billion dollars extra over four years by ensuring “that they pay the NSW gazetted single room rate to public hospitals for patients that receive a single room.”

“Under existing arrangements, some private health insurers are paying less than half the gazette rate for a private patient,” the budget papers say.

Private health funds will be billed nearly half a billion dollars extra over four years. Picture: AAP Image/Dan Peled

Those who work with kids and the disabled

The working with children check fee and the NDIS worker check fee will be “re-baselined”.

In English, that means the cost will go up from $80 to $105 in 2024-25 and then increase with inflation.

Raising these prices will net $47m over four years.

That money will go “to support the activities of the Office of the Children’s Guardian.”

Pokie players

Forecast gambling tax revenue has been revised up by $360m, “reflecting increased gaming machine activity.”

Tax on devices is expected to bring in about $1.5bn next financial year, rising to nearly $2bn by 2027-28.

The government has also set aside $3.2m for a program that includes additional “gaming machine tax compliance activities.”

It’s a better bet than average pokie, with that outlay set to deliver an extra $15m in gaming tax.

The budget has provided very little funding for the NSW Police Force despite the desperate shortage of officers. Picture: Tom Parrish

Police

Apart from upgrades to the Rose Bay and Waverley police stations and a little over $25 million improving police equipment, there is nothing for the thin blue line, which will only get thinner as a result.

As the Telegraph has repeatedly highlighted, there is a desperate shortage of officers.

Do you have a story for The Daily Telegraph? Message 0481 056 618 or email [e-mail]

Originally published as NSW budget 2024: Winners and losers revealed in five-minute guide