Author: Stephen Mason – this article appeared in our May 2018 newsletter
On Tuesday 8 May, the Government announced the Federal Budget including these proposed changes and initiatives:
- A new tax offset for low and middle income earners, up to $530 per year.
- Super accounts with small balances will have more protection from fee erosion and unnecessary insurance premiums.
- People receiving the Age Pension will be able to earn up to $300 per fortnight without it affecting the amount of their Age Pension.
- More aged care places to assist older Australians.
To find out how these proposed Budget changes may affect your financial situation Click here. Please be aware these are only proposals and the Budget announcements still need to be passed by both the House of Representatives and the Senate before they become law.
