Update- Australian Federal Budget 2012 The Australian Labor Party has handed down its fifth Federal Budget promising to deliver a $1.5 billion cash surplus in 2012-2013 which would be the first surplus since Labor was elected in 2007. The Budget aims to use the mining tax to fund cash payments and tax breaks to families and low income earners and provide a supplement for students, the unemployed and parents with young children. Growth is expected to flatten to 3% in 2013-2014 with the main economic drivers expected to be business investment and exports. Underlying inflation is forecast to remain within the RBA 2% to 3% target range but headline inflation is forecast to rise to 3.75% due to the impact of the carbon tax. For a detailed summary please refer to the attached 2012 Federal Budget. At Newealth we are always looking to support and promote our clients wherever possible and if you have any ideas or comments, please feel free to email me via ‘Contact Us’ at www.newealth.com.au or to call me on +61 2 9267 2322.
9th-May-2012 | 
