The Treasurer delivered a 2018 Federal Budget that focussed on reducing the budget deficit, cutting taxes for lower and middle-income earners and supporting selective sectors of the economy, especially infrastructure.
For more detail, read on. If you have any questions about how this will impact you, please get in touch with one of our advisers to discuss.
The 2018-19 Budget will be the last before the next election (due by May 2019) and so had to provide pre-election goodies but in a way that keeps the return to surplus on track. Thanks to an improvement in the budget position since the Mid-Year review, of around $7bn per annum, this has been made relatively easy. A modest fiscal stimulus will help households, but the main risk is that the revenue boost proves temporary.
If you would like to discuss how the budget will impact you and your financial situation, please get in touch with one of our advisers.
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