The Federal Budget
Last night the Treasurer, the Hon. Dr. Jim Chalmers MP, handed down the Federal Budget for 2023/24.
Our experienced analysts, Terri Bradford, Andrew Tang and Michael Knox have considered the implications from multiple perspectives and have provided insights on what this will mean for you.
Low key from a wealth management perspective
The constant chatter earlier this year in relation to a proposed raft of superannuation and tax changes mercifully quietened in the weeks before this year’s Federal Budget. All in all, it was a very low-key Budget in respect to wealth management matters.
Walking the fiscal tightrope
The 2023-24 Budget largely follows those that have gone before, taking a small step toward balance sheet repair but generally favouring fiscal expansion. Tonight’s key announcements reaffirm the commitment to support the vulnerable through cost-of-living relief while childcare measures aim to boost workforce participation.
Chalmers Delivers on Government Services
A budget balance of 0.17% of GDP is better than no balanced budget at all.
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If you would like more information, please contact your adviser or nearest Morgans office.
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Disclaimer: The information contained in this report is provided to you by Morgans Financial Limited as general advice only, and is made without consideration of an individual's relevant personal circumstances. Morgans Financial Limited ABN 49 010 669 726, its related bodies corporate, directors and officers, employees, authorised representatives and agents (“Morgans”) do not accept any liability for any loss or damage arising from or in connection with any action taken or not taken on the basis of information contained in this report, or for any errors or omissions contained within. It is recommended that any persons who wish to act upon this report consult with their Morgans investment adviser before doing so.
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