The Ballot Box Budget
With an election expected to be called within a week, the 2019-20 Federal Budget is designed to showcase the return to surplus (and by default the Government’s economic credentials) and engage voters with initiatives to make them feel like they are more prosperous.
2019-20 Budget highlights include:
- Personal Tax Cuts – $19.5bn package of personal income tax cuts including increasing the low and middle income tax offset
- Small Business – Instant asset write-off increased to $30k and expanded to businesses under $50m
- Massive ATO funding boost – Specialist tax advisers the focus of $1bn ATO task force funding
- Infrastructure – $100bn in infrastructure projects across all States and Territories over 10 years
For more information, read the full budget review here.