Life is slowly starting to become “Covid Normal” and one of these signs is that this year’s Australian Federal Budget has returned to its usual delivery date in May after being deferred to September last year.
Treasurer Josh Frydenberg last year delivered the largest deficit in Australia’s history as the Government committed to enormous support and stimulus packages to protect the economy which, had moved into recession for the first time in 25 years.
These measures, together with the overall management of Covid19, have given Australia an enviable lifestyle and economy in the year since the global pandemic began reeking havoc on the world.
This year’s budget will be more about building on the efforts of last year, expanding jobs and rebuilding the economy to build a stronger financial platform to manage the debt created through the impact of Covid19.
It is expected that the forecasts of last year should be improved upon, as the impact to the economy was softer than initially expected. So we watch anxiously to see how the Government tackles the future while we continue to live in a restricted travel environment.
We trust this seminar gives you a clearer understanding of the Budget Announcements including:
- How Covid19 has impacted the Australian Government’s federal finances
- Measures the Government intends to undertake to reinvigorate the Australian economy
- Latest taxation changes and how they may impact you and the Australian property market
