May 2024 Federal Budget Update
Whatever your situation may be, having the knowledge and the key facts in front of you is the first step toward improving your financial outcome. So we’ve put together a few documents to help you understand your options and hopefully make some savings along the way.
Check out these documents below, and don’t forget, if you have any further questions, you can always click here to drop us a message. We’d be happy to help!
To join the upcoming webinar on May 21st hosted by MLC
Click here for registration details
May 2024 Federal Budget Update – Summary and Highlights
The 2024 Federal Budget offers relief for the cost of living through Stage 3 tax reductions, reduced energy bills, increased welfare payments, and support for small enterprises.
SUMMARY OF KEY PROPOSALS
- The revised Stage 3 tax cuts are set to provide tax benefits starting 1 July 2024.
- Energy savings measures will offer up to $300 in relief for all households and $325 for qualifying small businesses.
- The $20,000 instant asset write-off limit for eligible small businesses will continue until 30 June 2025.
- Superannuation guarantees will be applied to Paid Parental Leave starting from 1 July 2025.
- The suspension of social security deeming rates on financial investments will be prolonged until 30 June 2025.
- There will be a 10% increase in the maximum Commonwealth Rent Assistance.
Note: These measures are currently proposals and are subject to legislative approval.
May 21st Federal Budget Webinar
To help you understand what the Budget proposals may mean for you, we encourage you to attend the 2024 Federal Budget webinar presented by the experts at MLC on Tuesday 21 May. Along with the Budget highlights, you will also receive an economic and market update outlining key events and market drivers.
There are two webinar times available. Select your preferred time below using the buttons to register for the webinar.
Watch – Outline of Key Announcements
More information
EOFY Tool Kit
We’ve put together a few documents to help you understand your options and hopefully make some savings along the way.
Knowledge Centre
Our financial Knowledge Centre is designed to provide some valuable content in a casual & quick, easy-to-view format. Here you will gain tips, inspiration, help, conversation starters, links & ideas for money, family & lifestyle.
Any advice on this site is general nature only and has not been tailored to your personal objectives, financial situation and needs. Please seek personal advice prior to acting on this information. Any advice on this website has been prepared without taking account of your objectives, financial situation or needs. Because of that, before acting on the advice, you should consider its appropriateness to you, having regard to your objectives, financial situation or needs.
