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Stronger-than-expected tax revenue has helped the Australian government forecast an earlier-than-expected return to surplus in the 2018 federal budget - and signal tax cuts form low- to middle-income earners. There’s also big news on infrastructure, small business and super.
The government expects the underlying cash balance be a deficit of $A14.5 billion (-0.8 per cent of gross domestic product) in 2018-19, improving to a slim surplus of $A2.2 billion (0.1 per cent of GDP) in 2019-20.
"There’s big news on infrastructure, small business and super.”
A surplus projection of $A11 billion (0.5 per cent of GDP) is in place for 2020-21 and $A16.6 billion (0.8 per cent of GDP) for 2022-12.
Read the infographic below to learn more.
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Click here to read the infographic full screen.
You can read bluenotes’ FULL COVERAGE of #Budget2018 HERE.
Jo Masters is a Senior Economist at ANZ
The views and opinions expressed in this communication are those of the author and may not necessarily state or reflect those of ANZ.
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BUDGET 2018, in pictures
2018-05-09
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EDITOR'S PICKS
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bluenotes presents comprehensive coverage of the 2018-19 Australian federal budget.
8 May 2018 -
This year’s budget has some for the household wallet, some for health and some for the government’s piggy bank.
9 May 2018