The text provides insights into the hopes and concerns of Australians regarding the fifth budget handed down by Jim Chalmers. It highlights the perspectives of various individuals, including a self-employed modelling coach, an accountants, a rent-paying university teacher, a first-home buyer, a single parent, a tax reform advocate, a home-depositing millennial, and a mother with an autistic child.
We spoke to Australians about their hopes and concerns before, and immediately after, Jim Chalmers handed down his fifth budget. Self-employed modelling coach, 42, Sydney’s northern beaches.
Income: $150,000. First home buyer Kate Heussler wanted this year’s budget to provide robust support for single-parent households. Heussler, who lives with her seven-year-old daughter Penelope, bought her first home last year using the first home buyers’ scheme. She was hoping the budget would deliver more for single parents and others struggling with the increased cost of living.
While she understood the government had to contend with extraordinary global instability, Heussler would have liked to have seen more support for single parents and home owners in this budget.
‘I haven’t seen anything for single mums or dads, which is disappointing. But to me, it’s a good start,’ she said.
‘I think they’ve done the best they can, given there are a number of situations that are completely out of their control. ’ Rex Zhang, 29, juggles work at multiple universities to make ends meet and wants to see practical measures to drive down the cost of rent. Zhang teaches at several universities so he can meet the rent on his Glebe property, valued at $420 a week.
The rent has increased significantly since 2022 and 2023 – 2023 was the year that it just went crazy. While Zhang would have appreciated more targeted relief for renters, he welcomed negative gearing and capital gains reforms as the start of a ‘positive direction’ towards resolving the housing crisis.
‘It’s good to see, it’s better than nothing,’ Zhang said. ‘It will help to hold people accountable who contributed to this crisis that affects young Australians. ’ Accountants, 45, Sydney’s northern suburbs. Income: $500,000 combined.
Brad Seeto, 45, wants tax reform in this year’s budget because those who are the engine room of the economy are being ‘slugged from all corners’. Seeto was disappointed by the tax reforms announced in the budget, believing middle income earners would continue to be ‘capped at their knees’. He wanted to see more measures targeting Australia’s most wealthy, who he believes won’t be harmed by the latest announcements on negative gearing and capital gains tax.
‘Tax is meant to be a redistribution to provide a safety net, and a portion of that market is wealthy and in my opinion don’t pay enough,’ Seeto said. Maximilian Flynn, 27, has cut down on driving, entertainment spending and has even moved back in with his parents to save for a home deposit. After months of diligent searching, he is yet to find a house for the right price.
Flynn and his partner have moved in with his parents – and cut down on driving and entertainment – to save for a house deposit. Flynn said the government’s five per cent deposit scheme, aimed at helping first home buyers, had paradoxically made his house hunt more challenging because it likely ‘bumped up’ home values in his price range.
Flynn said he hoped the budget would address negative gearing: ‘It’s benefiting a bunch of very rich people, and definitely impacting our ability to buy a home. ’ Rachel Medlock, 33, is frustrated with Tuesday’s budget. Her son Sonny, 4, is autistic and receives support through the NDIS. The climbing cost of living has set back her and her partner’s plans to save for a house deposit because there’s little left over for savings.
Mitch Burnie, 32, says he wouldn’t have bought an EV without federal government incentives and hopes they are retained in this year’s budget. Burnie, who lives with his wife and their two-year-old, bought an electric vehicle a little over a year ago after learning about novated leases.
‘I thought it made so much sense. We always wanted an electric vehicle, but didn’t have $100,000 to purchase one outright,’ he said
Budget Jim Chalmers Australians' Hopes And Concerns Single-Parent Households First Home Buyers Rent-Paying University Teacher Tax Reform Home Deposit Autistic Child Negative Gearing
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
7NEWS live updates: Treasurer Jim Chalmers to unveil budget with $45 billion upgrade to bottom line7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »
Pauline Hanson rides Farrer wave through Jim Chalmers’ budgetWith so much already revealed in the budget, the One Nation leader’s likely next moves are generating attention.
Read more »
Live updates: Watch as Treasurer Jim Chalmers hands down the federal budgetFollow our live coverage of Treasurer Jim Chalmers' fifth budget.
Read more »
Australians' Hopes and Concerns After Jim Chalmers' Fifth BudgetThe text provides insights into the hopes and concerns of Australians regarding the fifth budget announced by Jim Chalmers. Topics include single-parent households, housing affordability, tax reform, and the impact of rising costs of living.
Read more »