The 2019-20 Federal Budget contains few surprises. The major – and widely expected – initiative is an extension of the Government’s personal income tax cuts from those announced in the 2018-19 Budget which match and raise the more generous benefits which Labor announced in response to the Government’s previous measures: at a cost of $5.7 billion over four years.

Our concise Budget report summarises the key matters.

View / Download Budget Report*

* Please note that this Report may contain proposals which have not yet been legislated, and so should be viewed in that context. We recommend you seek advice and do not take any specific action until the Government provides greater detail and certainty.

To discuss the Budget and how it may impact you, please contact your accountant at Rosenfeld Kant today: call (02) 9375 1200 or email gary@roskant.com.au, raul@roskant.com.au, elias@roskant.com.au

The information (including taxation) contained within this article is of a general nature only and neither represents nor is intended to be personal advice on any particular matter. Rosenfeld Kant strongly suggests that no person should act specifically on the basis of the information in this document, but should obtain appropriate professional advice based on their own personal circumstances.