5 April 2019
Last night we witnessed Bill Shorten releasing Labor’s 2019 Budget in reply speech. Today we compare the measures within the Liberal Governments budget and Labor’s response to decipher what it means for our clients.
3 April 2019
On Tuesday 2nd April, the Federal Treasurer, the Hon Josh Frydenberg, handed down the Coalition Government’s national budget for the 2019-20 Financial Year. In the budget the Treasurer announced a return to a budget surplus, with a surplus of $7.1 billion for 2019-20.
The clear focus was to bring the budget back to surplus without increasing taxes. There is no significant taxation reform announced in this budget, but there are a number of mostly minor tweaks to the current system.
There is a theme in this budget to provide for future growth without burdening future Australians to fund these measures while still delivering tax relief.
This is a budget preceding an election, so there are a number of measures within this budget that are designed to improve the Morrison Government’s standing with voters.