Budget 2020: Winners and losers as the government looks to protect Australia from the COVID-19 fallout

The 2020 budget's winners and losers. Picture: Shutterstock
The 2020 budget's winners and losers. Picture: Shutterstock

Some groups have done better than others this year.

WINNERS

Businesses

  • Major reforms for asset write off and the new JobMaker program to subsidise wages.

Pensioners

  • Aged pensioners and some welfare recipients will receive two payments of $250, in December and March. There will also be a change to the deeming rate which will translate to a higher government payment.

Mental health

  • The number of Medicare rebated psychology sessions have been doubled from 10 to 20.

The regions

  • A $550 million package for regional Australia will be aimed at boosting tourism and the agriculture workforce. More than $300 million will go towards helping exporters get Australian goods overseas.

LOSERS

The unemployed

  • There was no permanent increase to the JobSeeker payment, despite ferocious advocacy from social service groups.

Super funds

  • Underperforming superannuation funds will now be forced to notify members of poor performance.

Parents

  • No new spending was announced to assist parents with getting young children into childcare.

Universities

  • Despite a $1 billion boost to research, no measures to rescue the struggling sector were announced.

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This story The winners and losers in this year's budget first appeared on The Canberra Times.

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