The Treasurer handed down Budget 2016-17 on Tuesday 3 May, 2016.
The Australian Government budget sets out the economic and fiscal outlook for Australia, and includes expenditure and revenue estimates for the current financial year, the budget year, and three forward financial years. It shows the Government’s social and political priorities, and how the Government intends to achieve these.
This Budget sets out the Government’s economic plan to ensure Australia continues to successfully transition from the mining investment boom to a stronger, more diversified, new economy in three key ways.
- Sticking to the Government’s plan for jobs and growth
- Fixing problems in the tax system to enable us to sustainable cover the Government’s responsibilities for the next generation
- Ensuring that the Government lives within its means, to balance the budget and reduce the burden of long-term debt
The full budget can be viewed online via this link – http://budget.gov.au/
Please call our office today if you have any questions on how these changes may affect you on a pay week to pay week basis.