Budget summary, New super measures, Industry experts respond, Economic outlook
Welcome to this special 2020 Federal Budget newsletter where we cover the main super, tax and retirement related policy announcements. Highlights include:
- YOUR FUTURE, YOUR SUPER: There will be relief that this year there was no tinkering to the super rules, and Australians should benefit from new measures that put the pressure on underperforming super funds.
- TAX CUTS BROUGHT FORWARD: As was widely speculated, personal income tax cuts have been brought forward to this financial year, providing immediate relief for 11 million Australians.
- INDUSTRY EXPERTS RESPOND: Tracey Spicer finds out what industry experts, including Noel Whittaker, Stephen Huppert and Bina Brown, think about the Budget announcements.
- CASH BONUSES FOR PENSIONERS: Those on the Age Pension will receive payments of $250 in December and March, and in aged care 23,000 new home care packages will be provided.