2019 Federal Budget - Individual Apr 3, 2019

The Government has introduced new immediate tax relief for low-and-middle‑income earners of up to $1,080 for singles or up to $2,160 for dual income families to ease the cost of living.

The offset will be available for the 2018-19, 2019-20, 2020-21 and 2021-22 income years.

2019 Federal Budget - Business Apr 3, 2019

http:///2019-federal-budget-otherThe instant asset write off has again been extended with the value of the depreciable asset able to be written off increased to $30,000. Additionally the turnover eligibility threshold increased to those businesses turning over up to $50 million.

2019 Federal Budget - Other Apr 3, 2019

Here is a summary of all the winners and losers from this years budget.

2019 Federal Budget - Social Security and Family Assistance Apr 3, 2019

The Government announced a one-off payment of $75 for singles and $62.50 for each member of an eligible couple ($125/couple) who receive a qualifying Centrelink payment on 2 April 2019 to provide relief from high energy costs. Qualifying payments include the Age Pension, Carer Payment, Disability Support Pension, Parenting Payment Single, and Veterans’ pensions and payments. The cost of the payment will be $285 million.

While a blatant cash splash pre the Federal Election, (likely to be in May) the Energy Assistance payment will be welcomed by many. 

2019 Federal Budget - Economy Apr 3, 2019

While the deficit for this year is expected to be $4.2bn, the Treasurer announced return to surplus of some $7.1bn estimated for 2019-20. At least 1/3 of that forecasted surplus can be attributed to the collapse of the iron ore tailings dam in Brazil and the unexpected increase in the global price of iron ore this has caused which in turn has boosted government revenue.

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