On Tuesday the 29th of March, Treasurer Josh Frydenberg handed down the 2022-23 Federal Budget.
The 2022-23 Federal Budget is very much an election year budget that has avoided any significant measures aimed at budget repair and reform of the tax system.
Instead, the focus has very much been on alleviation of cost of living pressures which have been exacerbated by recent domestic and international events.
Some of the more notable measures announced include:
- A 6 month 50% reduction in fuel excise
- A $420 cost of living tax offset for low & middle income earners
- A one-off $250 payment for social security recipients
- A small business skills & training boost
- An extension of the temporary reduction in minimum pension draw-down rates for self-funded retirees
To access our comprehensive budget guide, please click the link.
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