25/03/2025
📢 Incase you missed it! Last night was Budget Night!💲🎉💲🎊
Some of the topline announcements included;
- Personal tax cuts. The 16% tax bracket will drop to 15% from 1 July 2026 and drop again to 14% from 1 July 2027. As well as increases to the Medicare levy threshold for low income earners.
- Energy Bill Relief of $150 for households and businesses
- Additional funds allocated for ATO enforcement of various taxpayer compliance programs ($1B) & ASIC to deter illegal phoenixing
- Beer excise frozen for 2 Years
- Non Compete Clauses will be banned for wage earners up to $175K
- Help to buy home scheme extended (income and price cap increased)
- Changes to the child care scheme
- Further subsidies for apprentices and fee free TAFE
- HELP debts to be reduced by 20%
- Further funds for Healthcare such as Medicare, Pharmaceutical Benefits Scheme and Women’s health
