BCCM Federal Budget 2024–25 alert

15 May 2024

The BCCM attended the Federal Budget lock-up at Parliament House yesterday.

After extensive media announcements in the lead up to Budget night, the Treasurer offered few new revelations, handing down a Budget aimed at balancing cost of living and inflationary pressures. The Budget confirmed key cost of living measures including the Stage-3 tax cuts for 13.6 million Australian taxpayers, HECS debt relief, and reduced energy and medicine prices.

Measures of note for co-operatives and mutuals:

  • Housing: $1.9 billion in additional loans available to community housing providers, including the rental co-op housing sector.
  • Small business: Extension of the $20,000 instant asset write-off scheme will assist the thousands of SMEs that are members of co-ops. Energy bill relief also extends to SMEs.
  • Social care: $2.2 billion for implementation of Aged Care Royal Commission reforms. The BCCM is engaged in this reform process through the Care Together Program, demonstrating the role co-ops and mutuals can play in making social care more person-centred.
  • Manufacturing: The $22.7 billion Future Made in Australia industry policy is a combination of existing and new funding measures. The BCCM will explore any opportunities for our members to participate in the new measures, though many are already allocated to specific projects.
  • Competition policy and financial services: $13.9 million to progress competition policy reform, including the financial services Regulatory Grid. The BCCM secured a recommendation in the recent Better Competition, Better Prices report for co-operative and mutual regulatory reforms to be part of this process.

Read the BCCM’s Budget media release.

Latest news

11 June 2024

Service to co-ops and mutuals recognised in King’s Birthday 2024 Honours List

Congratulations to these outstanding people on being recognised in the King’s Birthday 2024 Honours List. Your service and achievements shine a light on the...
07 June 2024

Care co-ops in the spotlight at the International Labour Conference

The 112th session of the International Labour Conference (ILC) discussed the issue of decent work in the care economy.
06 June 2024

Important Notice: Phishing Alert – email security advisory

Phishing alert – email security advisory – from BCCM CEO.