The announcements made in last night’s sixth Federal Budget delivered by the current Treasurer and incumbent Government were largely non-surprising with virtually all major announcements, from a wealth perspective, having been rumoured and confirmed in the days and weeks leading up to this night.
One potential positive is that there were no further significant changes announced to Australia’s superannuation system. Of course, that may be because they were previously announced on 5 April this year and there was nothing more to be done.
This Budget contained many small measures that are broad in their application which means it is likely that everyone will feel an impact at some point. However, virtually all measures announced will still need legislation to be introduced, and will have to pass through Parliament. There is no doubt that Parliament will be very busy in its
remaining time before the September election.
Our synopsis only highlights why it is important to seek financial advice personalised to
your circumstances and goals and which ensures you can have confidence in the choices you make about your financial future.
Call OBT on 07 5462 2277 if you would like to discuss any aspects of the Budget as they apply to you, or to discuss your personal circumstances.