2021-22 Federal Budget Unpacked
On Tuesday night, the Federal Government handed down the Budget for the 2021/22 financial year. As the Covid economic landscape continues to develop, the Government's Budget covers a range of measures, including superannuation, tax, social security, and help for first home buyers to help stimulate the economy and get us all spending again.
I have been through the Budget (so you don't have to), and here is a broad summary of the proposed changes that the Government has put forward. Please remember that these are just proposed changes now and have not been legislated, so there could be changes.
Important information and disclaimer
Budget 2021–22 Budget Overview, Based on Commonwealth of Australia data, https://budget.gov.au/2021- 22/content/download/glossy_overview.pdf., 11 May 2021.
Budget 2021-22, Based on Commonwealth of Australia data, https://budget.gov.au/2021-22/content/essentials.htm#eight, 11 May 2021
Any advice provided in this communication is of a general nature only. It may not be suitable for you as it does not take into account your personal objectives, financial situation or needs. Please seek personal advice before making a decision about a financial product or acting on any advice in this communication. Any tax information provided in this publication is intended as a guide only and is based on our general understanding of taxation laws. It is not intended to be a substitute for specialised taxation advice or a complete assessment of your liabilities, obligations or claim entitlements that arise, or could arise, under taxation law. We recommend you consult with a registered tax agent. Reliance should not be placed by anyone on this document as the basis for making any investment, financial or other decision.
Information in this communication is current as at 13 May 2021 and may be subject to change. Opinions constitute our judgement at the time of issue. In some cases information has been provided to us by third parties. While the information in this communication is believed to be accurate and reliable, its accuracy is not guaranteed in any way.
Terrell Hyman the Director and Principal Advisor at Trl Financial Solutions.