Summary, Economic outlook revised down, Relaxing restrictions on super contributions, Disingenuous Liberals
Welcome to this special 2019 Federal Budget newsletter where we cover the main super, tax and retirement related policy announcements. Highlights include:
- FEDERAL BUDGET OVERVIEW: It was a relatively quiet night for super, but big for tax cuts. There are also some positive announcements for older Australians.
- ECONOMIC OUTLOOK: Australia may be back in the black (soon), but we’re also not out of the woods yet. Penny Pryor takes a look at the Federal Budget’s Economic Outlook.
- RELAXING RESTRICTIONS ON SUPER CONTRIBUTIONS: Older Australians have new incentives to make super contributions but Sean Corbett considers this disingenuous of the Liberals.
- ELECTION WARM-UP: We also feature opinion pieces from Michelle Grattan and Peter Martin, who give their views on how the budget will interplay with the forthcoming election.
On 2 April 2019, Josh Frydenberg announced his first Federal Budget as Treasurer. There were only a handful of policies that directly relate to superannuation, but also tax cuts and bonus for older Australians. Read more
The Federal Budget may have been relatively unexciting from a superannuation point of view but there are some interesting insights to be gained from examining the Economic Outlook. Read more
Today Josh Frydenberg announced incentives for older Australians to contribute more to super, but these are a little disingenuous of the Liberals. Read more
Talk about retrospective. In his determination to quickly inject money into the economy (for economic as well as political reasons), Treasurer Josh Frydenberg has reached back in time to give us an extra tax cut on income already earned during the financial year that’s about to finish. Read more
For the government this “election budget” is an exercise in juggling. On the one hand, it is throwing out voter bait. On the other, it is running hard on the theme of economic responsibility. Read more
The Morrison government has delivered an election-launch budget with big personal income tax handouts to attract voters and a A$7.1 billion 2019-20 surplus to display its economic credibility. Read more
In his budget speech tonight Treasurer Josh Frydenberg announced that under a Coalition government we will see a decade of surpluses that will “continue to build toward 1% of GDP within a decade”. Read more
This year’s budget includes $448.5 to modernise Australia’s Medicare system, by encouraging people with diabetes to sign up to a GP clinic for their care. The clinic will receive a lump sum payment to care for the person over time, rather than a fee each time they see their GP. Read more