Create the life you want
Tuesday night saw the first Federal Budget handed down by Treasurer Josh Frydenberg.
It was a cash splash just minutes before we head to the local primary school for the Federal elections, the date of which we expect will be announced this weekend.
The Government is very proud that they are on track to head back into surplus territory next year for the first time in 12 years!
Infrastructure spending and tax cuts for most working Australians were the big ticket items last night to try and win votes.
The Budget was pretty benign in terms of changes to Super (fortunately). There were a few good improvements announced but nothing substantial.
If Labour is successful in May, you can expect sweeping changes to be tabled in parliament for super, investments, Centrelink, wages and the environment. Given the softening state of our economy, it is widely considered by experts in the financial sector that these changes and their timing may be ‘recessionary’ for this country if legislated.
We’ve included a 4 min video and a short 2 page summary for you from BT to give you a little more info to summarise this year’s Budget.
As always we are watching and are across what is going on regarding tax and legislation changes and will be making recommendations to you in your review meeting or as appropriate.
In them meantime, don’t hesitate to call us if you have any questions.
