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3 Apr 2019

2019 Australian Federal Budget

The Federal Treasurer Josh Frydenberg has handed down his first Budget and some of the key measures include.

  • immediate tax cuts for low to middle income earners by increasing the Low and Middle Income Tax Offset (LMITO)
  • the ability for people aged 65 and 66 to contribute to super without meeting the work test requirements from 1 July 2020
  • significant increases to funding for both health and aged care services

The strategy of again promising tax cuts in the Budget and then delaying implementation to 1 July 2024 (half a decade) is dumb politics in an election year.

It is important to remember that these Budget announcements are still only proposals and still need to be legislated.

Click to read.

 

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