Budget 2017 – how are you affected?

What does the Federal Budget mean for you - 2

On Tuesday 9 May, the Federal Government handed down its Budget for the 2017–18 financial year.

It’s important that you take the time to understand how the Budget proposals may affect you personally, so please read our Budget Overview on for more detail.  Alternatively watch Ray’s video on the key Budget announcements.

Here are some of the key Budget announcements.

  • an additional non-concessional contribution cap for eligible over 65 year olds who sell their home
  • a first home saver scheme that allows people to use some of their super towards a home deposit
  • a 0.5% increase in the Medicare levy from 1 July 2019
  • reinstatement of the Pensioner Concession Card for pensioners who lost their entitlement due to recent assets test changes
  • a continuation of tax offsets for small businesses.

 

 We’re here to help

The team at Treysta will support you through these changes.  If you have any concerns or would like to discuss your financial strategy, please don’t hesitate to get in touch.