Lucy Wicks (Robertson, Liberal Party) Share this | Hansard source

I am pleased to rise to make a short contribution to the debate on the Treasury Laws Amendment (2021 Measures No. 3) Bill 2021 because this bill is part of the Morrison government's plan to support those in our community who need it most. It includes assistance for those on low incomes through increases to the Medicare levy thresholds. It includes measures to help single parents with dependents to build or purchase a home, support Australians thalidamide survivors and assist primary producers and small businesses affected by the recent storms and floods—all important issues. We know these measures will directly benefit local residents in my electorate of Robertson and across the Central Coast. Each of these measures is part of our plan to help stimulate the economy, to help generate jobs and to boost our recovery from the COVID-19 pandemic.

Schedule 1 of the bill increases the Medicare levy low-income thresholds for single-parent families, seniors and pensioners from the 2020-21 income year and for future income years in line with changes to the consumer price index. This will mean that low-income households who did not pay the Medicare levy in 2019-20 generally will not pay it in 2021, if their income has increased in line with or by less than the CPI. The Medicare levy low-income thresholds ensure that people who pay no personal income tax because of the tax-free threshold and other offsets generally don't incur the Medicare levy. This will ensure that those who need support will retain more of their income, which is particularly important because of the rising costs of living and pressures already facing working families. I know that this will be a welcome relief for a number of hardworking people in my local electorate of Robertson.

Schedule 2 of the bill introduces an amendment to the National Housing Finance and Investment Corporation Act 2018 to implement the Family Home Guarantee. It does this by expanding the National Housing Finance and Investment Corporation's functions to enable it to provide 10,000 guarantees over four years, from 1 July 2021, to eligible single parents with dependants. These grants will allow eligible recipients to build a new home or purchase an existing home with a deposit of as little as two per cent, regardless of whether that single parent is a first homebuyer or a previous owner-occupier.

The Morrison government recognises the importance of housing in providing a foundation for social and economic security, and that's why this government is providing a pathway to home ownership for single parents with dependants, many of whom have struggled to save enough for a deposit while paying rent and meeting other costs. It will allow them to purchase a home sooner with limited savings, subject of course to the individual's ability to service a loan. This particular measure is one that I know many members of the House have risen in support of, and I add my voice in support of this measure. It's a measure that's very important to people in my electorate of Robertson and it's important to the Central Coast region, particularly given the rising house prices that we've seen and the fall in rental vacancies.

Many families are expressing to me their difficulties in finding a home and making sure that, when they do need to move, there is a place for them. We're finding, with COVID, that the Central Coast, which we have always considered to be one of the nation's best kept secrets as the best region in the best country in the world to live, is being discovered by many people to be the best place to live. They are coming to the Central Coast in droves, which is really pushing up the price of housing across the Central Coast. It's also pushing down the rental vacancies and pushing up rental prices, which is making it really tough for many families. I support this measure because I believe it is going to help more families to be able to stay in the community in which they live and more single-parent families to purchase a home of their own. As somebody who is now a single parent with two dependent children, I know that this comes with its own unique set of challenges, situations and circumstances. I certainly strongly support this measure and welcome it for those it will benefit.

Schedule 3 of the bill recognises that victims of thalidomide have also suffered immense challenges. It targets support to those who have been impacted by circumstances beyond their control, resulting in a lifetime of pain and hardship. The budget provided support to these survivors through a payment in recognition of their suffering and their increased cost of living due to disability. Schedule 3 of this bill exempts those payments from income tax and from the social security and veterans' entitlement income test. These amendments need to be made before annual payments commence in the first half of the 2021-22 financial year. I'm really proud to be part of a government that's looking out for those who have endured hardship and that is delivering measures that will help provide much needed relief.

Schedule 4 to the bill will provide income tax exemption for qualifying grants made to primary producers and small businesses affected by this year's storms in February and March and the floods in Australia. Qualifying grants include small business recovery grants of up to $50,000 and primary producer recovery grants of up to $75,000, which, following the passage of this bill, will be deemed to be non-assessable, non-exempt income for tax purposes. These grants provide support, alongside assistance that the Australian and state governments have already made available, to be able to help local communities impacted by the storms and floods in February and March of this year begin to rebuild and recover following these devastating events.

I know that they impacted a number of communities in my own electorate, including those along the Hawkesbury River, with residents in Spencer, Wisemans Ferry and Gunderman being directly impacted. This particular area in my electorate has really been through a lot in recent years. Last summer's bushfires threatened property and the heavy rains early last year, in 2020, also caused damage. The effects of these events can be long-reaching. I know this myself, with a massive tree crashing through my own house over six years ago during the superstorms of April 2015. It caused significant damage to my home. The damage to the home was one thing, but the long-lasting ramifications and impacts have actually been felt for several years. So I strongly support these measures, because I know that this support will be welcome among those impacted by these storms and I also know that the recovery doesn't end with the end of the event.

Finally, among other important changes, schedule 5 to this bill amends the Income Tax Assessment Act 1997 to include a number of organisations on the list of deductible gift recipients, including the Alliance for Journalists' Freedom, the Andy Thomas Space Foundation, Youthsafe, the RAS Foundation, the Judith Neilson Institute for Journalism and Ideas and the Great Synagogue Foundation Trust. This allows members of the public to receive tax deductions for donations of $2 or more that they make to these organisations.

This bill does deliver support to those who need it most. It does help to stimulate the economy and boost our recovery from the COVID-19 pandemic. It has direct benefit and will assist local residents and families in my electorate of Robertson, across the Central Coast and around Australia. It is an important part of our economic plan, and I commend the bill to the House.

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