This week saw the release of the federal budget – or at least confirmation that the details been leaked to the media over the previous few weeks were actually government policy.
There were lots of stimulatory measures that are likely to see the economy continue to power on.
There were a number of measures announced to make superannuation less complex, and easier to contribute to, but unfortunately, most of these won’t actually apply until July 2022. On the plus side, some of the announcements from previous budgets will start from this July, and we'll talk about them in this week's video which you can see here.
There are also new measures to assist families with young children afford care and allow both partners to return to work if they wish (without all the extra income just going to childcare costs), but these too won’t commence until July 2022.
Overall the measures are likely to see the economy keep humming along, but at some point there will be a reckoning with the debt that’s being accumulated to fund them.
If you’d like to know more about how any of these issues might impact you or what opportunities might emerge from them, let me know and we’ll make time to discuss with you.