A guide to the winners and losers in the 2015 Federal Budget.

Confused about the budget? Here, we break it down. Who won. Who lost. And by how much.

WINNERS:

Working families with young kids.

The Government’s long-promised childcare package will mean more money for many families from 2017, but will strip others – including stay-at-home mothers – of nearly all the childcare assistance they currently receive.

Some families will be better off by up to $1500 a year, with the package expected to put $30 a week back into the pockets of families earning up to $165,000 a year.

The model includes a means-tested single payment and direct payments of $110 per day to childcare centres for the baseline costs of service provision. Costs above that would be met by the family.

If pictures are more your thing, check out this handy 2015 Budget infographic: Cos’ everything is better in pictures.

But stay-at-home mothers in households with income greater than $65,000 a year face losing most of their current subsidy unless they meet a minimum weekly work or study requirement.

Budget measures include increasing access to childcare in disadvantaged communities, helping families with disabled children and guaranteeing four-year-olds preschool spots.

Unemployed young people.

The waiting time for unemployment benefits for people under the age of 25 will be cut from six months to just four weeks as part of a $330 million unemployment package.

The announcement appears to be an about-turn on a proposed six-month wait for jobseekers under 30, a controversial measure in last year’s budget.

Funds will also go towards helping young jobseekers struggling with mental health problems, young migrants, encouraging school-leaves to enter work or training and a youth transition to work program targeting those at risk of long-term welfare dependence.

Small businesses owners.

Small businesses with an annual turnover under $2 million will receive a tax cut of 1.5 per cent and small unincorporated businesses will get a 5 per cent tax discount. The Government will also allow small businesses to immediately deduct assets costing under $20,000 purchased between Budget night and 30 June 2017.

Sick people.

The Government will fund $1.3 billion worth of new and expensive medications – including new generation cancer drugs – through listing on the Pharmaceutical Benefit Scheme.

$400 million over four years will go towards medical research.

People on common prescription medications.

Generic drug prices are expected to fall due to changes to the Pharmaceutical Benefit Scheme as the Government redirects health spending towards subsidies on expensive new treatments.

Under the proposals, the prices of many common drugs would be cut – some by up to half – because the original patented medicines would not be used as part of the calculation for the cost of generic versions.

Drought-affected farmers.

A $300 million package will focus on helping drought-affected farmers, boosting economic activity in badly hit towns and regions and preparing for future drought. Farmers will receive tax deductions and financial benefits when they invest in water and fodder storage facilities and fencing.

Australian spies.

An extra $450 million will be spent on bolstering intelligence agencies and fighting terrorist propaganda.

Around $130 million of that will go to the telecommunications industry to help companies upgrade their systems to comply with new metadata and record storage laws.

And $22 million will be used to fight terrorist propaganda so organisations like Islamic State will find it more difficult to recruit young Australians.

$1.9 billion will go towards Australia’s Defence Force operations over the next two years, including $800 million for the fight against Islamic State in Iraq and funding for the recently improved pay offer for defence personnel.

LOSERS:

Almost half of Australian mothers.

Around 80,000 new mothers will lose some or all of their government parental leave payments in a move which will see “double dipping” parental leave payments stopped. Women who access funds from both the government scheme – which provides 18 weeks of leave at the minimum wage to primary care givers earning $150,000 a year or less – and from their employer will now be forced to choose or to take a part payment.

It is estimated that about 45,000 women a year will have access only to a partial government payment because they have some employer entitlements, which are less than the government scheme.

An estimated 34,000 women a year will lose the government support entirely, as their workplace scheme is more generous than the government scheme.

People who use Netflix (or download digital products).

The Government is hoping to collect billions in additional revenue by adding GST to music and movies downloaded from international streaming services, such as Netflix, and e-books.

Mr Hockey said any company providing a service into Australia should be charging the GST, regardless of where that company was based. Uber and Airbnb are also in the firing line.

Stay-at-home mums.

Under the Government’s proposed ‘Jobs for Families’ package, stay-at-home mothers in households with income greater than $65,000 a year face losing most of their current childcare subsidy unless they can show they work or study at least four hours per week.

Would-be pensioners.

The Government is tightening access to the aged pension. A tighter assets test limit for couples of $820,000 (excluding the family home) will limit the access of self-funded retirees to part pensions.

However, the changes mean that about 172,000 pensioners at the lower end of the pension will be better off, according to the ABC.

The ABC also reports these changes will replace efforts to change the way the pension was indexed; that move would have negatively impacted pensioners more over the long term.

Tax-dodging multinational corporations.

Global companies will face tighter laws on shifting profits to foreign tax havens. Companies that breach the law will pay back double what they owe, plus interest.

Mr Hockey said new legislation would strengthen Australia’s anti-avoidance regime to deal with 30 companies that were using contrived arrangements to divert profits offshore.

Conscientious objectors to childhood vaccinations.

Those who object to immunisation will be ineligible for welfare and childcare benefits, while doctors who prompt parents to immunise their children will have their bonuses doubled to $12.

White-collar and online criminals.

$127.6 million will go towards setting up a Serious Financial Crime Taskforce to target tax evasion and financial crime, including fraud, cyber and identity crimes.

Middle income earners.

Although middle income earners stand to benefit from some of the changes, including the new childcare policies, ABC News reports this group will be burdened with some of the “heavy lifting” of the return to surplus.

This will be due to “bracket creep,” which occurs when people are pushed into higher income tax brackets by an increases in wages to account for cost of living pressures.

Backpackers.

Foreigners in Australia on working holidays will be hit with 32.5 per cent tax from the first dollar they earn.

If you’re all about the budget, check out these related articles:

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Budget 2015: Welfare budget cut by $1.6 billion.

The Treasurer is taxing Netflix. The budget just got personal….

Government announces major changes to childcare system.

 

The Government promised this year’s budget would be “measured, responsible and fair”. Do you think it is?