Australian Federal Budget 2018 - 2019

The 2018/19 Federal Budget sees the government predicting a return to surplus a year earlier than predicted in 2019/20.

Personal income tax relief is the centrepiece of the budget with a 7-year plan designed to give immediate tax relief to low and middle taxpayers, reduce bracket creep and provide a simpler tax structure.

Senior Australians will benefit from increased home care packages, easing of work restrictions on super and an extension of the pension loan scheme.

We know you’re busy so we’ve provided an infographic of key facts and figures below from the Chartered Accountants Australia and New Zealand. More detailed information can be found in Thomson Reuters Special Issue – 2018 Federal Budget Report here

If you want to know what the Federal Budget proposals mean for your business, the full budget papers are available at www.budget.gov.au 

Please don’t hesitate to contact our office on 02 69384600 to discuss how these budget proposals may affect you or your business.