The Australian Federal Budget 2023/24

On Tuesday, 9th May, Federal Treasurer Hon. Jim Chalmers handed down the 2023/24 Federal Budget, a second delivered by the Albanese Government, providing an outlook into the Government's priority to create a "responsible and sustainable" economic strategy, in the face of continued inflation, rising cost-of-living, and global financial volatility.

Acknowledged as being the beginning of a multi-Budget Treasury plan to return the Australian economy back to a sustained and reoccurring surplus, the 2023/24 Budget revealed a predicted surplus forecast for the 2022/23 Financial Year - a first in 15 years.

The announced measures aim to balance appropriate restraint by the Federal Government, whilst addressing three key focuses of cost-of-living, growing the economy, and ensuring Australia's economic resilience. The measures also work to assist Australian's financially against continued slow financial growth and uncertainty.

In our Federal Budget 2023/24 - Insights & Analysis Report, we provide a detailed breakdown of the main measures across personal and business/corporate taxation, superannuation & retirement, and other industry measures; and how these changes may affect you and your business.

Should you require any further information or wish to book a complimentary consultation to review how the team at Archer Gowland Redshaw can help you at an individual or business level, please contact us on (07) 3002 2699 | info@agredshaw.com.au.