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Federal Budget 2018: What it means for infrastructure

Federal Budget 2018: What it means for infrastructure

The Treasurer Scott Morrison proposed several new national initiatives and funds for the infrastructure sector in the 2018 Federal Budget.

Infrastructure was a focus in the Federal Budget for the second year in a row with commitments made to projects in each state and territory. The Federal Government also proposed several new national initiatives and funds including:

  • $3.5bn to establish the Roads of Strategic Importance initiative to upgrade key freight routes to improve road safety and better connect sectors such as agriculture and mining to export markets - including $400m for roads in Tasmania, $100m for the Barton Highway in NSW and the ACT and $1.5bn for roads in the Northern Territory
  • $1bn to establish an Urban Congestion Fund
  • $250m to establish the Major Protect Business Case Fund for development and planning of national projects
  • $160m to upgrade sections of the Outback Way

In his speech to Parliament the Treasurer said: “Our $75 billion, 10-year rolling infrastructure plan will continue - strengthening our economy, busting congestion in our cities, making rural roads safer and getting our products to market.”

The Federal Government’s proposed projects across the states and territories include:

ACT

  • $100m for Monaro Highway Upgrade

NSW

  • Partner in funding the North South Rail Link in Western Sydney
  • $971m for the Pacific Highway Coffs Harbour Bypass
  • $400m to duplicate the Port Botany Rail Line

Northern Territory

  • $180m for the Central Arnhem Road Upgrade
  • $100m for Buntine Highway Upgrade

Queensland

  • $3.3bn for continued upgrades to the Bruce Highway including $800m for the Cooroy to Curra Section D project
  • $1bn for the M1 Pacific Motorway between Eight Mile Plains and Daisy Hill and Varsity Lakes and Tugun

South Australia

  • $1.4bn for future priorities on the Adelaide North-South Road Corridor
  • $220m for electrification of the Gawler Rail Line

Tasmania

  • $461m to replace Bridgewater Bridge
  • $59.8m for the second stage of the Tasmanian Freight Rail Revitalisation program

Victoria

  • $5bn to the Melbourne Airport Rail Link
  • $1.75bn for the North East Link

Western Australia

  • $1.05bn for the METRONET rail project
  • $944m for the Perth congestion package
  • $560m for the Bunbury Outer Ring Road

Keep in mind 

Any changes outlined in the Federal Budget must be passed by both the House of Representatives, which is controlled by the government, and the Senate, where proposed expenditures are subject to examination within Senate estimates hearings. This means any proposed cuts or changes outlined above may not necessarily become law.

Taxation considerations are general and based on present taxation laws and may be subject to change. You should seek independent, professional tax advice before making any decision based on this information. 

This article is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. Taxation considerations are general and based on present taxation laws and may be subject to change. You should seek independent, professional tax advice before making any decision based on this information. Commonwealth Bank is also not a registered tax (financial) adviser under the Tax Agent Services Act 2009 and you should seek tax advice from a registered tax agent or a registered tax (financial) adviser if you intend to rely on this information to satisfy the liabilities or obligations or claim entitlements that arise, or could arise, under a taxation law.