Last night, Treasurer Josh Frydenberg delivered his first budget, announcing that the "budget is back in the black and Australia is back on track" and "for the first time in 12 years, our nation is again paying its own way".

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Scott Morrison has now handed down his third budget. This year, the headline is $140 billion in tax cuts over the next decade, with some more immediate tax relief of up to $1,060 a year for middle-income households and the proposed fundamental reform of the tax system.

As we remind our clients every year, these Budget proposals are exactly that – proposals. They have NO effect until passed into law. Once passed into law, we can examine the impact to you and advise relevant strategy into the future.

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The Treasurer, Scott Morrison, has now delivered the 2017 Federal Budget.

As with every Budget, from an individual’s perspective, there are perceived winners and losers.

This year, home ownership affordability and related activities to further liquidate the Australian property market takes a lot of the limelight.

Importantly however, these Budget proposals are exactly that, proposals. It is important to remember this, but equally relevant to consider the strategy(ies) that you may now be able to apply to suit your individual circumstances.

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In a recent press release the Treasurer, Scott Morrison, released a number of changes to the Government’s three key federal budget proposals.

For some, perhaps the most significant changes to the earlier proposals were that the Government will now NOT be proceeding with the proposed $500,000 lifetime non-concessional contribution (NCC) limit.

Instead they have proposed reducing the existing Non-Concessional Contribution (NCC) limits from 1 July 2017. 

If legislated, this proposal will impact many accumulators and very early pre-retirees.

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Federal Treasurer Scott Morrison put forward a number of proposed changes, mainly around contributions to superannuation and taxation, in his budget speech
last night.

Here’s a brief roundup of what the proposals could mean for you. 

Remember, proposals are not set in stone and could change as legislation passes through parliament.

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Last night Joe Hockey released his second Federal Budget (2015/16).  By all accounts, this was somewhat boring Budget, due mainly to the lack of surprises given many of the Budget initiatives were released (in detail) in the days leading up to Budget night.

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The Treasurer Joe Hockey delivered his first budget speech last night, containing few surprises. The Budget measures announced include increased ‘taxes’ in the form of a temporary levy for high income earners, tighter welfare rules, and wider cuts to education and spending.

This article is a summary of key announcements that you may affect you from a financial advice perspective.

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On 14 May 2013 the Federal Government handed down one of the most keenly anticipated budgets for years.

The talk in the lead-up to the 2013/14 Federal Budget was all about surpluses and schools, deficits and disability care. Some of the numbers are eye-catching. With $14.3 billion for DisabilityCare Australia and $9.8 billion for school funding, there are some big sums on the table.

But back at the kitchen table, what does all this mean for your hip pocket?

When it comes to accessing healthcare, education and aged care, not to mention paying the bills and saving for retirement, how will the budget change the way you live, work and pay for services on a practical day-to-day level?

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On the 8th of May 2012, Treasurer Wayne Swan delivered his fifth (and some might predict his last) Federal budget. Falling out of this Budget are the usual announcements to which advisers and accountants must consult with their clients, to ensure that their personal circumstances are maximised for the following 2013 financial year and potentially beyond.

Given the impact that this year’s Budget places on Superannuation, therefore accumulation and retirement planning, we have placed a little more focus onto this area in this quarter’s newsletter.

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