New South Wales (NSW) State Budget for 2016-17
News ID: 17775
The New South Wales (NSW) State Budget for 2016-17 was handed down by Treasurer Gladys Berejiklian on 21 June 2016. Here's a quick summary of grants below:

$89 million for the Jobs for NSW Fund, as part of the Government’s commitment to provide $190 million to support jobs growth in NSW and achieve the Premier’s Priority of creating 150,000 jobs by 2019.

$30 million in 2016-17 for the $100 million Smart, Skilled and Hired program, a package of initiatives to build skills of those most in need of a job, such as young unemployed people, and actively match them with the sectors that are growing and in need of workers. Targeted industries include construction and disability care.

$15 million to invest in, and support the future of small businesses in New South Wales, including the Small Biz Connect program, and support for disrupted industries, small business advocacy services, dispute resolution services and continued support via specialist advisors with language skills to multicultural small businesses in Western Sydney.

$588 million to provide tax revenue administration, fines management, debt management, including $344 million new funding to support the Jobs Action Plan Payroll Tax Rebate and Small Business Employment Incentive Scheme. The Jobs Action Plan will be restructured from 31 July 2016, to focus on businesses with 50 or fewer full time equivalent employees and with the payroll tax rebate increased from $5,000 to $6,000.

$80 million in concessional loans under the Farm Innovation Fund to assist primary producers to prepare for future droughts.

$16 million ($100 million over five years) to meet the 2015 election commitment to protect threatened species across New South Wales through the Saving Our Species Program.

$23 million for the Community Building Partnership Program to provide improved community infrastructure and encourage community-based activities that create more vibrant and inclusive communities.

$3.0 million for the Multicultural NSW COMPACT Program to support an alliance of community partners who are committed to addressing and resolving community issues and tensions and safeguarding Australia’s peaceful and harmonious way of life against extremist hate, violence and division. An additional $4.0 million of funding over 2017-18 and 2018-19 for the Multicultural NSW COMPACT program will be provided by the Department of Premier and Cabinet.

The Budget Report can be found here.
Publish Date 21 June 2016
Article type Recent News