Appendix C - Major initiatives
This table summarises the major new initiatives in the 2014‑15 Budget and their impact on the fiscal balance. More comprehensive information is provided in Budget Paper No. 2, Budget Measures 2014‑15.
| Initiatives | 2013‑14 $m |
2014‑15 $m |
2015‑16 $m |
2016‑17 $m |
2017‑18 $m |
|---|---|---|---|---|---|
| Infrastructure Growth Package — Asset Recycling Initiative | 0 | -335 | -1,278 | -1,285 | -1,007 |
| Infrastructure Growth Package — New investments | -1,000 | -202 | -1,010 | -969 | -519 |
| Defence Forces Retirement Benefits and Defence Force Retirement and Death Benefits superannuation payments — indexation | 0 | -318 | -332 | -344 | -357 |
| Infrastructure Growth Package — Western Sydney Infrastructure Plan | 0 | -103 | -210 | -352 | -531 |
| Emissions Reduction Fund — establishment | 0 | -76 | -300 | -355 | -417 |
| Higher Education Reform — Expanding opportunity — FEE-HELP and VET FEE-HELP loan fee — cessation | 0 | 0 | -135 | -287 | -324 |
| Infrastructure Growth Package — WestConnex Stage 2 — provision of a concessional loan | 0 | -4 | -97 | -339 | -289 |
| Korea-Australia Free Trade Agreement | 0 | -100 | -165 | -180 | -190 |
| National Stronger Regions Fund — establishment | 0 | 0 | -200 | -200 | -200 |
| Support Services and Mutual Obligation Arrangements for Illegal Maritime Arrivals | -3 | -85 | -115 | -162 | -210 |
| Trade Support Loans — establishment | -4 | -53 | -125 | -129 | -129 |
| Pharmaceutical Benefits Scheme — new and amended listings | -7 | -73 | -87 | -99 | -113 |
| Restart — boosting the wage subsidy for mature age job seekers | 0 | -18 | -79 | -98 | -109 |
| Medical Research Future Fund — investments | 0 | 0 | -20 | -77 | -179 |
| Revenue items | 2013‑14 $m |
2014‑15 $m |
2015‑16 $m |
2016‑17 $m |
2017‑18 $m |
|---|---|---|---|---|---|
| Temporary Budget Repair Levy | 0 | 600 | 1,150 | 1,200 | 150 |
| Reintroduction of fuel excise indexation | 0 | 168 | 380 | 680 | 990 |
| Personal income tax — abolish the Mature Age Worker Tax Offset | 0 | 0 | 290 | 255 | 215 |
| Research and Development Tax Incentive — reducing the rates of the refundable and non-refundable tax offsets | 0 | 70 | 160 | 200 | 190 |
| Personal income tax — abolish the Dependent Spouse Tax Offset | 0 | 0 | 130 | 100 | 90 |
| Revenue decreases | |||||
| Restoring integrity in the Australian tax system — further decisions | 1 | -12 | -202 | -183 | 38 |
| Personal income tax — increase the Medicare levy low-income thresholds for families | 0 | -9 | -13 | -13 | -13 |
| Superannuation Excess Contributions Tax | 0 | -4 | -10 | -14 | -13 |