The Treasurer, Josh Frydenberg will hand down his 2019 budget later this evening – so what can you expect? As usual there has been plenty of information released or leaked beforehand, here’s what we know:
With an election expected soon after the Budget, opinion is mixed on how much cash will be splashed to lure voters. Although a series of income tax cuts and offsets is expected, overall the government is expected to continue its spending on “infrastructure you can use” – with $75bn spent on infrastructure over the next 10 years.
The Treasurer will position the government as being fiscally responsible and funding large capital programs without increasing taxes. Still, if your income is in the range of $37,000-$126,000 – expect some tax relief in the coming year.
Read more via the links below on what’s expected this evening:
- Cash, surplus and surprises in store as Frydenberg under pressure to deliver – SMH
- Why you shouldn’t expect a cash splash from Tuesday’s Budget – Herald Sun
- Federal Budget 2019 — here’s what to expect from Treasurer Josh Frydenberg – ABC News
- What to expect from the 2019 federal budget – news.com.au
Some of the savings are already on their way – with help for energy costs already on it way – via a one-off Energy Assistance Payment, worth $75 for singles and $125 for couples, to be delivered to age pensioners, people on the Disability Support Pension, veterans, carers and single parents before July.