2019 FEDERAL BUDGET HIGHLIGHTS!

parliament.jpg
James Kelly is a Financial Adviser/Principal who is the investment specialist. You can contact James either on his mobile 0403 073 512 or via email  james@ambleside.net.au

James Kelly is a Financial Adviser/Principal who is the investment specialist. You can contact James either on his mobile 0403 073 512 or via email james@ambleside.net.au

3 APRIL 2019

The Federal Budget was released last night and overall not particularly surprising. The expected surplus of $7bn was announced, although it should be noted this is ‘projected’ and still depends on the government achieving key revenue targets before the end of the financial year. It was always going to be a fine line for the government to be responsible and bank this surplus, versus spending to improve their election position.

We expect the budget to be closely followed by the announcement of a federal election date, which will be sometime in May. This is the shortest period in history between a budget being announced and a Federal election. With Labor showing consistently strong poll results their budget reply speech on Thursday night will be a key announcement.

Key policies that caught our eye include:

  • Major reduction in personal tax rates between now and 2024

  • Increased instant asset write off from $20,000 to $30,000

  • Lifting of contribution age eligibility from 65 to 67 without requirement to meet work test

  • One-off payment to eligible social security and DVA recipients to assist with the cost of energy bills

  • Release of an additional 10,000 home care packages across the four package levels

Here is a easy to read view of the main highlights of the budget:

Budget highlights.PNG
Budget v2.PNG
FB.ui({ method: 'share_open_graph', action_type: 'og.likes', action_properties: JSON.stringify({ object:'https://developers.facebook.com/docs/javascript/examples', }) }, function(response){ // Debug response (optional) console.log(response); });