Budget 2017: winners and losers

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Who came out ahead, and who gets left behind in Scott Morrison's budget.

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WINNERS

Disabled people

Funding guaranteed for the National Disability Insurance Scheme, which is expected to cost $21 billion a year once it is fully implemented in 2020

GPs and medical specialists

A gradual thawing of the freeze on Medicare rebates paid by the government

Schools

An extra $18.6 billion over 10 years, distributed on a needs-based model with average increases of 4.1 per cent per student

First-home buyers

To help save for a deposit faster, people will be able to salary sacrifice into their superannuation funds

Older home owners

Retirees can slip $300,000 from the sale of their homes into their super funds

Pensioners

Concession cards back for those who lost them after pension asset-test changes earlier this year

Small businesses

A one-year extension of the instant asset write-off scheme for capital equipment expenses up to $20,000

Australian Federal Police

More than $300 million for more specialist officers targeting terrorism, organised crime, child exploitation

LOSERS

Big five banks

Slugged with a new levy designed to reap $6.2 billion from July 1 and face fines of up to $200 million if they cover up misconduct by executives

Senior bank executives

Could be stripped of bonuses, deregistered or disqualified if they breach new accountability rules

Taxpayers

The Medicare levy will rise 0.5 percentage points to 2.5 per cent of taxable income from July 1, 2019 

University students

Cost of a four-year degree will rise 7.5 per cent and HECS threshold lower students will have to pay back government loans as soon as their income hits $42,000.

Universities

A new 2.5 per cent efficiency dividend to apply in 2018 and 2019, saving the government $2.8 billion.

Welfare cheats

Job seekers who regularly miss Centrelink appointments or turn down suitable work will have payments reduced or cancelled. Drug test trials for 5000 new welfare recipients

Foreign property investors

"Ghost house" tax of $5000 a year from foreign investors who leave properties vacant for more than six months

Property investors who negatively gear

No longer able to claim travel expenses, with limits placed on some equipment and depreciation deductions.

Employers of foreign workers

New annual levy of $1200 or $1800 for those hiring temporary foreign workers and $1800 for permanent foreign workers

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