The 2017-2018 Australian Budget

Each year, nonprofits wait in anticipation for the budget wondering what it will mean to their charity and how it will affect them over the coming year. 2017 was no different and like always, it seems there are mixed reviews to this year’s budget.

Volunteering

Volunteering is an important part of the nonprofit industry in Australia and, particularly as 31% of the population engage in some form of volunteering, priority should be placed on this area. This year, however, the budget seems to be lacking when it comes to volunteering to ensure effective and sustainable volunteering.

National Disability Insurance Scheme (NDIS)

One good thing came out of it, however. The 2017-2018 National Disability Insurance Scheme is now fully funded and the Government will provide $24 million over the course of 4 years from 2018. Of course, support is still an issue for those not eligible for NDIS packages.

Homelessness

Homelessness was one area which troubles many in the NFP sector and, while a new National Housing and Homelessness Agreement was announced, it shows real little change to the actual policies currently in place.

Indigenous Sector

For the indigenous Australians, over $50 million has been offered for research and evaluation of current policies and programs, as well as over $250 million to expand the ParentsNext program which aims to assist young parents in poor areas.

Social Impact Investments

$20.2 million has been promised over a period of 10 years to encourage social impact investments including $8 million to build a Social Impact Investment Readiness fund to develop social impact investment proposals. This is definitely great news for the industry. $3 million funding has also been offered up for the Australian Charities and Not-for-profits Commission to upgrade their systems.

Depending on the niche market of your charity, there may be other benefits and grants offered but these are subject to your specific industry or circumstances. As the government continues to recognise the good that NFPs do for the greater benefit of the community and change the budget accordingly, the better off we will all be.