2017 Federal Budget-who are the winners & losers?

The Winners and Losers of the Federal Budget

 The Winners are

– Home owners (existing and first home)

– NDIS (with taxpayer hikes from 1/7/19 they get more funds)

– Older people (health care cards for those that recently got knocked off the register)

– Patients (out of pocket expenses are to be lowered?)

– Farmers (Landcare programs)

The Losers are

–          Taxpayers (namely medicare levy increase from 1/7/19 to support the NDIS)

–          The big banks ( but are we concerned with this one – we should be as they will just increase their fees to us to cover it!) and a banking tax.

–          University Students (increased fees and reduced thresholds for HELP repayments)

–          Welfare Recipients (CPI frozen for 2 years)

–          Smokers who roll their own or smoke cigars are being hit the hardest

 Lots of building of infrastructure $75 Billion over the next 10 years, which should increase jobs.

From what I can see, overall, more winners than losers with the biggest benefit is for first home buyers and those wanting to downsize and the contribution into super.  They haven’t touched Superannuation and Negative Gearing, which is a surprise to me but as usual, they have to get it all through the Senate, so the details are vague and until it is LAW, we can’t be sure.

So don’t go downsizing the house too quickly just in case there are parameters around the details that disadvantage you.

We have a video clip from MLC that highlights the changes and what they could mean for you.

Enjoy what sunshine we have left as the days are getting shorted and the cold nights longer.

Take care and look after each other.