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.
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