Federal Budget 2019 Overview
The 2019-20 Federal Budget was tabled last night by the Treasurer, Josh Frydenberg. The Budget delivered the first expected surplus since 2008 offering personal tax cuts, cash handouts for energy payments and infrastructure spending. With an election due to be called in May, it is unlikely that most announcements will be passed prior to the election, except for the proposed tax cuts which are likely to be accelerated.
Please keep in mind that, as with any release on Federal Budget night, the measures outlined below are only proposals at this point. Further legislative review is required prior to any changes becoming law.
Some of the key economic points of the Federal Budget include:
1. The projected budget surplus for 2019-20 is $7.1 billion.
2. $100 billion infrastructure spend over the next decade.
3. Immediate tax relief for low and middle income earners.
