Tonight, was Treasurer Josh Frydenberg’s first budget and he is hoping that the personal tax relief, tax relief for small business, the significant reduction in debt and a surplus for the first time in 12 years will mean that this is not his last federal budget.
In the last budget the Coalition Government introduced significant personal tax rate reductions, but not fundamental tax reform. As this is an election year, the Government took the same approach as last year.
As expected, the 2019 budget is a pre-election sweetener designed to sell the Coalition Government’s economic management credentials while delivering hip-pocket relief for voters. The only surprise for taxpayers will be whether they get an opportunity to roll out the measures announced tonight.
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