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FEDERAL BUDGET 2018

What this could mean for you

 

On Tuesday 8 May, the federal government handed down its Budget for the 2018–19 financial year. This is the third Budget delivered by Treasurer Scott Morrison and is likely to be the final Budget before the next federal election.

According to the Treasurer, this year’s Budget measures aim to provide tax relief to ordinary Australians, while supporting small-to-medium businesses and improving Australia’s essential services. The Treasurer claims that these measures will help to end Australia’s decade-long deficit and return a modest surplus of $2.2 billion by 2019–20.


Here are some of the announced Budget changes that could affect you. However, it’s important to remember that these are only proposals at this stage, and each proposal will only become law once it’s passed by Parliament.
 

Disclaimer
Colonial First State Investments Limited ABN 98 002 348 352, AFS Licence 232468 (Colonial First State) is the issuer of super, pension and investment products. This document may include general advice but does not take into account your individual objectives, financial situation or needs. You should read the relevant Product Disclosure Statement (PDS) carefully and assess whether the information is appropriate for you and consider talking to a financial adviser before making an investment decision. A PDS for Colonial First State’s products are available at colonialfirststate.com.au or by calling us on 13 13 36.