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What does this budget mean for me?

Treasurer Jim Chalmers has high hopes that his 2024 Federal Budget will rein in inflation earlier than expected, ease cost-of-living pressures and build a stronger economy in the future.

This year’s Budget aims to help out those struggling to pay the bills with a range of tax cuts and subsidies.

The following paper provides highlights and a generalised summary of last night’s announced Federal Budget.

It is important to note that many of these announcements are yet to be legislated and care should be taken before implementing a financial strategy based on Budget announcements alone.

General Advice Warning:
This paper does not take into account your objectives, financial situation or needs. Before acting on any information, you should consider the appropriateness of the information provided and the nature of the relevant financial product having regard to your objectives, financial situation and needs. Please ensure you speak to your financial adviser of your accountant prior to implementing any changes to your personal financial position.