An analysis on the Federal Budget and how it may impact Australians from a financial planning perspective. This usually includes Centrelink, superannuation, pension and taxation changes.

FEDERAL BUDGET SUMMARY 2023-24

The 2023 Federal Budget, brought down on 9 May 2023, is the first full Budget for the Albanese Labor government. This Budget Summary is not designed to cover all aspects of the Federal Budget. It is solely focused on the key financial planning areas which relate to our clients – superannuation, taxation and social security.…

Federal Budget Summary 2020-21

Originally scheduled for release on the 12th of May 2020, Treasurer Josh Frydenberg released the Federal Government’s 2020-21 Federal Budget on the 6th of October 2020. In what should always be very welcome news for retirees, there are no significant changes to the superannuation system. And in what should always be welcome news for workers, there are…

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Federal Budget Summary 2017-18

The Hon Scott Morrison MP handed down the 2017-18 Federal Budget on the 9th of May 2017. Pleasingly, and unlike last year, in the 2018 Federal Budget superannuation has largely been left alone. The main changes involve allowing people aged 65 and over to downsize their home and gain exemptions from the superannuation caps, and…

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Federal Budget Summary 2016-17

The Hon Scott Morrison MP handed down his first Federal Budget on the 3rd of May 2016. The 2016-17 Federal Budget contained modest changes to income tax rates and Centrelink rules but significant, and largely negative, changes to superannuation. Of most concern is that a number of the superannuation changes are retrospective and hence impact…

2015 Federal Budget

Federal Budget Summary 2014-15

 The Hon Joe Hockey MP handed down his first Federal Budget on the 13th May 2014. There are few winners but plenty of losers. Fortunately the superannuation system has not been overly tinkered with. And, with the exception of a temporary 2% budget deficit levy on high income earners, tax has also largely been left…