Labor’s third Budget, unveiled on May 14, prioritised alleviating the cost of living for Australians. Treasurer Jim Chalmers emphasised its responsibility in balancing household support with economic stability. Key highlights include:
Tax Cuts:
- Stage 3 tax cuts, effective 1 July 2024, will provide all tax payers with tax savings.
- The savings range from $354 for those earning $30,000 to $4,529 for incomes exceeding $190,000.
The Wealth Mentoring Group 