The 2024-25 South Australian 2024-25 State Budget was handed down 6 June 2024. Here are some highlights:
Jobs for the future
This budget provides an additional $610.3 million over the forward estimates ($692.6 million to 2028-29), bringing total funding for skills and training to $2.3 billion over five years. This includes:
- $275.6 million to increase the number of training places by around 35% to over 160,000, prioritising the future skills needs of the state in areas including defence, health, building and construction, early childhood education, clean energy transition and ICT. This includes a 20% increase in TAFE SA places in regional SA.
- $62.6 million for quality training including a boost to audits and investigations to ensure training providers and employers meet their obligations.
- $56.2 million to support students and increase training completion rates, including additional funding for financial and other wellbeing supports.
- $53.1 million to increase the VET workforce, develop curriculum to meet the state’s economic priorities, and invest in teaching plant and equipment and student infrastructure.
- $18.3 million for Closing the Gap initiatives that deliver tailored education programs to First Nations students, and support lifting the proportion of Aboriginal people with a Certificate III or above.
- $13.3 million to support the state’s workforce planning and defence industries pathways programs.
- $9 million to support programs in regional areas to connect learners, employers and trainers to get people into training and work where it is needed most.
Relief for businesses
- $20 million in 2024-25 for Round 2 of the Economic Recovery Fund. This will support up to 8,000 eligible small businesses and not-for-profit organisations with grants between $2,500 and $50,000 to invest in energy efficient equipment or other improvements to reduce and manage their energy usage and costs.
- General practitioner wages related to bulk billed services will be exempt from payroll tax from 1 July 2024.
- $18.4 million over four years to support non-government organisations (NGOs) in meeting the costs associated with wage and inflation pressures in 2024.
Economy
This Budget includes $199.8 million to further support the economy, including:
- An additional $32.2 million allocation in 2027-28, increasing the total value of the Economic Recovery Fund to $154.2 million.
- $24.4 million over five years for net zero agriculture to develop and deliver innovation, on-farm solutions and support the upskilling of the agricultural sector to reduce emissions through low emission intensity farming systems, and to support the state’s target to achieve net zero emissions by 2050.
- $20.8 million over four years to accelerate adoption and consumer awareness of a distinct South Australian destination brand through tourism marketing, increasing the state’s appeal and awareness, both interstate and internationally, and supporting the regions.
- $14 million over four years to expand the Business Events Fund with a focus on supporting more events during winter periods.
- $6 million over four years to extend the investment attraction program and the global expansion program to support economic growth through investment attraction and export uplift.
- $380,000 over two years to extend and expand to all age groups the SAYES program.
Cost of living
$266.2 million to provide relief for the increasing cost of living for South Australians, including:
- $35.8 million over three years for a social housing energy upgrade initiative to provide insulation upgrades and replacement of inefficient appliances to deliver energy and cost saving benefits to tenants in both public and community housing sectors, in partnership with the Commonwealth Government.
- $54.6 million over four years to expand the sports vouchers program from 1 January 2025 and address the cost of children participating in sport and recreation activities, supporting the participation of around 100,000 children.
- $112.8 million over four years for a range of initiatives.
- $24 million in 2024-25 to deliver a $200 reduction to government school parents, caregivers and independent students for the materials and services charge for the 2025 school year.
Relief for first homeowners
This budget includes $30 million additional first homeowner relief:
- $14 million over four years to remove the property value stamp duty thresholds for eligible first home buyers who enter into a contract to purchase a new home or vacant land to build a new home on or after 6 June 2024.
- $16 million over four years to remove the property value cap of $650 000 for eligible contracts entered into on or after 6 June 2024.
Arts, recreation and sports
- $20.7 million over five years from 2023-24 to establish an arts investment fund to drive targeted investment in strategic initiatives across South Australia’s arts, culture and creative industries.
- $7.2 million over three years to continue the partnership between the South Australian Film Corporation and the ABC for the production of screen content in South Australia.
Supporting the regions
This Budget includes $686.4 million for new measures supporting regional South Australia, including:
- $41.5 million over two years to undertake significant emergency fruit fly response activities.
- $30 million over three years for additional regional housing, including at least $10 million in 2024-25 for the Regional Housing Initiatives Program.
- $19.5 million over four years to reduce emissions through low emission intensity farming systems.
- $4.4 million over four years to provide family and business support mentors, and support the rural financial counselling service.
- $4.1 million over four years to support world-leading large-scale hydrogen and renewable energy projects in SA.
- $2.1 million over four years for the regional tourism alignment initiative to bolster regional tourism, industry capability and product development.
- $500,000 in 2023-24 to support the Remote Area Energy Supply Scheme.
Budget papers can be found here.