On Tuesday 8 May, the Government announced the Federal Budget. Proposed changes and initiatives included:

  • A new tax offset for low and middle income earners, up to $530 per year
  • Super accounts with small balances will have more protection from fee erosion and unnecessary insurance premiums
  • People receiving the Age Pension will be able to earn up to $300 per fortnight without it affecting the amount of their Age Pension
  • More aged care places to assist older Australians.

Read how these changes could affect your financial situation.

Federal Budget summary – 2018/19