WORKING families, motorists, homebuyers and businesses across Ipswich, the Somerset Region and Karana Downs are set to benefit from the 2026 Federal Budget, said Federal Member for Blair Shayne Neumann.
The Budget has been described as a broad reform package focused on housing affordability, productivity, fuel security and cost-of-living relief, while also delivering a reported $45 billion improvement to the budget bottom line.
At the centre of the Budget is a major tax reform agenda aimed at improving housing affordability and intergenerational fairness.
The changes include reforms to capital gains tax (CGT) discounts, negative gearing arrangements and the taxation of trust structures, designed to address pressures in the housing market.
The measures build on earlier cost-of-living relief, including tax cuts for around 80,000 taxpayers in Blair, a $1,000 automatic tax deduction for workers, and recent reductions in fuel excise aimed at easing pressure on motorists.
Small businesses are also set to benefit, with the Government confirming the $20,000 instant asset write-off will be made permanent, supporting ongoing investment and productivity growth.
Housing supply is another key priority, with a $2 billion Local Infrastructure Fund to support essential enabling infrastructure such as water, sewerage and power. The funding is expected to help facilitate up to 65,000 new homes nationwide.
An additional $500 million has been allocated to accelerate environmental approvals for housing, energy and critical minerals projects. The move is expected to assist in unlocking delayed developments, including projects in Greater Springfield.
The Budget also includes $60 million to support housing for young people on Youth Allowance or Austudy, with funding directed through community housing providers.
Mr Neumann said the Budget strikes a balance between immediate relief and long-term reform.
“This Budget includes funding for my 2025 election commitments,” he said, highlighting major local projects including a $200 million Amberley Interchange, upgrades to sporting facilities across Ripley and Ipswich, cultural infrastructure projects, and expanded community health services.
Key local investments include $5 million for the Ipswich Basketball Stadium expansion, $4.5 million for a Ripley Valley rugby league and sports centre, $4.05 million to upgrade Lowood Swimming Pool, $1.6 million for netball courts at Fernvale Sports Park, $1.2 million for the Chuwar Koala and Native Fauna Conservation Park, $5.5 million for a House of India community and cultural centre, $700,000 for Springfield Central YMCA upgrades, and funding for a new headspace youth mental health service in Redbank Plains.
Mr Neumann said the Budget was aimed at supporting households under cost-of-living pressure while investing in long-term economic reform.
“We want to see a fair go for those who are doing it tough in our community, particularly young people trying to get into the housing market,” he said.
He said the Budget also builds on previously announced national initiatives, including a $10 billion Australian Fuel Security and Resilience package, a domestic gas reservation policy, changes to electric vehicle fringe benefits tax settings, and additional investment in youth mental health and early childhood education.
“People in Blair can be proud of the role they’ve played in shaping some of the major reforms in this Budget,” Mr Neumann said.
