Treasurer Josh Frydenberg has unveiled a pre-election budget spliced with billions of dollars worth of tax offsets, cash payments and fuel excise relief. A one-off tax break of $420 will go to more than 10 million Australians earning up to $126,000 a year. Their total tax relief...
More gas, low-emission technologies and critical minerals will power Australia’s economic growth and energy future, according to a budget blueprint. Some 140 categories of low-emissions technologies will get access to new tax concessions under expanded “patent box” arrangements set out in the 2022/23 federal budget on...
THE FEDERAL BUDGET AT A GLANCE KEY FORECASTS * Budget deficit of $78 billion in 2022/23 * Commonwealth net debt to rise to $714.9 billion (31.1 per cent of GDP) in 2022/23 * Economic growth to rise by 3.5 per cent in 2022/23 * Unemployment rate of 3.75 per cent...
FEDERAL BUDGET FORECASTS The federal government’s budget black hole will persist for the foreseeable future, but there will be notable improvements from the new financial year. By the end of 2025/26 the budget will be $103.6 billion better off, compared to the most recent estimates. This assumes the...
RELIEF AT THE BOWSER The fuel excise will be slashed by 50 per cent for six months to ease cost of living pressures for motorists. From Wednesday, the 44.2 cents per litre fuel tax will drop to 22.1 cents, with the savings expected to flow to bowsers...
Here we dispel some common myths about life insurance to help you make informed decisions about your cover. Myth # 1 – Life insurance companies don’t pay claims There’s a common perception that life insurance companies will do everything they can to avoid paying claims. In fact, 92%...
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FEDERAL BUDGET – WHAT WE KNOW SO FAR: THE BIG PICTURE * With the COVID-19 pandemic, flooding and Ukraine-Russia war creating headwinds, Treasurer Josh Frydenberg is emphasising the “fiscal dividend of a stronger economy”. * Budget deficit estimated to be around $70 billion, instead of the $98.9 billion...
Australian couples buying their first home are taking up to eight years to save for a deposit as rising property prices and low wage growth make saving a struggle. The time taken for young couples to gather a house deposit has increased by 11 months on...
Business groups believe the Morrison government is taking a “smart approach” to deregulation with a budget proposal to reduce red tape, while improving the cash flow for small businesses. In the latest measure to emerge from his pre-budget blitz, Treasurer Josh Frydenberg announced a reduction in...