The first post-COVID-19 Federal Budget has landed.
Despite the trillion-dollar debt, there’s plenty of good news for many Australians in the Budget. Major announcements include back-dated income tax cuts and substantial business incentives, all designed to get Aussies spending and businesses investing - so we can accelerate economic growth following our COVID-19 induced recession.
Below is a rundown of the key announcements from two of our Financial Advisers, Corey Wastle and Ashley Bishop. They cover:
- National debt levels
- Income tax cuts (individuals)
- Improvements to Superannuation (individuals)
- Employment incentives targeting young Australian’s under 35 (individuals)
- New ‘Carry back’ losses (Business)
- Increase to the Instant asset write-off (Business)
If you feel like you'd like to talk with your Verse Adviser about the Federal Budget and any potential impact on your personal strategy, feel free to get in touch and we'll make time to chat.
The information provided is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.