What will the Budget mean to you?
Federal Budget 2018 – Encouraging tax cuts
There’s immediate relief for Australians on low to middle incomes, as well as light at the end of the tunnel for higher-income earners. Those earning up to $90,000 will get a tax cut of up to $530
via an increase to the low and middle income tax offset as of July 1 2018.Having raised it from $80,000 to $87,000 in 2017, the government is now bumping up the 37c on the dollar threshold to $90,000. By 2024-25, that threshold will be eliminated and those earning $200,000 or less will face a top tax rate of no more than 32.5c in the dollar.
Read more of Owl Financial Management’s (OwlFM) Federal Budget 2018 summary here:
Federal Budget 2018If you would like to discuss your financial position and existing financial plan, contact us on 08 83620060Owl Financial Management (OwlFM) is an Adelaide based Financial Planning Business.