Federal Member for Bonner Ross Vasta MP has officially launched the Bonner Winter Essentials Drive to donate goods to local charities and organisations supporting people in our community doing it tough.

Mr Vasta said the coronavirus pandemic has had an unprecedented impact on local communities and as a result, local organisations supporting vulnerable people were finding their resources stretched.

“Nationally our government has delivered emergency relief funding to many of these organisations, including an additional $200 million under the Community Support Package,” Mr Vasta said.

“However, with more than 21,000 people in Queensland living rough, either through boarding houses, supported accommodation or sleeping out in the cold, at a local level there is always more we can do.

“Bonner’s local charities and organisations always go above and beyond to support vulnerable people in our community and this is our chance to make a difference and give back.”

Mr Vasta said he was seeking donations of non-perishable food items, hygiene products and blankets to donate to Bonner charities.

“My office in Wynnum will be a drop off point for donations, and local Councillors Steven Huang and Ryan Murphy have also offered to be collection points for the Bonner Winter Essentials Drive,” Mr Vasta said.

“This is the first global pandemic we have faced and just like in times of natural disaster, we need our community to come together and help each other out.”

Drop off locations:

• Office of Ross Vasta MP – 69 Clara Street, Wynnum
• Office of Cr Ryan Murphy – Shop 8 Millenium Centre, 14 Millenium Blvd, Carindale
• Office of Cr Steven Huang – 2072 Logan Rd, Upper Mt Gravatt

From July 1 2020, more than 17,000 small and family businesses in Bonner will be paying less tax as a result of legislated tax cuts passed by the Morrison Government.

As the 2020-2021 financial year begins, incorporated small and family businesses with a turnover of less than $50 million will see their company tax rate reduced from 27.5 per cent to 26 per cent.

Unincorporated businesses will also benefit as the rate of the small business income tax offset increases from 8 per cent to 13 per cent.

The changes mark the next stage of the Morrison Government’s accelerated small business tax cuts, legislated in October 2018, which brought forward tax relief for small and medium businesses by five years.

Minister for Employment, Skills, Small and Family Business Michaelia Cash said this was a big win for the small business sector.

“Small businesses are the backbone of our economy and with 3.5 million small businesses across the country, they are a vital part of our COVID-19 recovery,” Minister Cash said.

“As COVID-19 health restrictions ease and the economy re-opens, this tax relief will support Australian small and family businesses to bounce back stronger and get to the other side of this crisis.”

Federal Member for Bonner Ross Vasta MP said bringing forward these tax cuts would be a shot in the arm for hard working small and family businesses in Bonner.

“At a time when they need it most, these tax cuts will lead to more investment, increased employment opportunities for Australians and helping small business owners keep more of their money,” Mr Vasta said.

Treasurer Josh Frydenberg said these legislated tax cuts would provide further support to small business during the COVID-19 crisis.

“The Coalition Government has delivered extensive support for small and medium sized businesses during the COVID-19 crisis,” Minister Frydenberg said.

“We have extended the Instant Asset Write Off to $150,000 for another six months, are providing the Cash Flow Boost of up to $100,000 for employing small businesses, and are boosting access to capital through our COVID-19 SME Guarantee Scheme.

“This is in addition to the extensive income support JobKeeper, JobSeeker, and our Supporting Apprentices & Trainees wage subsidy are providing to support small businesses and sole traders across Australia.”

The Morrison Government’s First Home Loan Deposit Scheme has had an incredibly successful first year and from today, an additional 10,000 loan guarantees are now available for first home buyers over the next 12 months through participating lenders.

Federal Member for Bonner Ross Vasta MP said the First Home Loan Deposit Scheme was a key election commitment of the Morrison Government, and cut years off the time it took for Australians to save for a deposit.

“The Scheme has so far provided 10,000 guarantees to eligible first home buyers to allow them to purchase a modest home with a deposit of as little as five per cent,” Mr Vasta said.

“The Scheme can also be used in conjunction with the Morrison Government’s First Home Super Saver Scheme and HomeBuilder, and first home buyers may also be eligible for state and territory grants and concessions.

“National Housing Finance and Investment Corporation (NHFIC) data shows applications for guaranteed loans are being received from all parts of our community, be it in our capital cities, regional centres or rural areas.”

In the Scheme’s first year of operation, data also showed guaranteed loans went to applicants whose income were well below the Scheme’s caps.

The average income of single applicants is $66,488 ($125,000 cap) and for couples $109,410 ($200,000 cap).

The Scheme has proven most popular with first home buyers under the age of 30 years of age who secured 59 per cent of guarantees, and 12 per cent of guarantees have been secured by Australians over the age of 40.

The largest amount of applications for guaranteed loans, 45 per cent, were made through mortgage brokers.

For more information and eligibility criteria visit NHFIC’s First Home Loan Deposit Scheme website: https://www.nhfic.gov.au/what-we-do/fhlds/