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2019 04 Federal Budget 2019 - How will it impact you and your business?

The Federal Budget has been delivered and has focused on infrastructure and essential services spending as well as income tax relief for low and middle income earners and business tax relief. Unsurprisingly (on the eve of a federal election), the budget is a somewhat safe and uneventful one, and rather than containing any major changes to the current tax base, has focused on minor tweaks and changes to what we already have.

As with all Budgets, these are announcements only and have not been legislated. The details are still to be worked through, and both Houses of Parliament need to pass legislation before the announcements take effect. Parliament won’t consider these announcements until after the Federal election, expected in May this year, so more than normal, the passage from announcement to legislation is uncertain.

The key tax (personal and business related) and superannuation highlights of last night’s Budget are summarised below:-

2023 05 Government Funding Announcement & StewartBrown Analysis

The announcement by the Government of additional funding totalling $11.3 billion over 4 years to deliver a pay increase to over 250,000 workers is a very positive initiative that will be supported by all stakeholders in the aged care sector.

The additional funding includes staff in residential and community aged care services. Due to the complexity of the residential aged care funding streams and it being the major portion of the additional funding, we have focussed this analysis on residential aged care.

Click here to download a PDF copy of the Aged Care Funding Budget Announcement and StewartBrown's Analysis.

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