๐๐๐๐๐ฟ๐ฎ๐น๐ถ๐ฎ ๐๐ฐ๐ต๐ถ๐ฒ๐๐ฒ๐ ๐๐ถ๐ฟ๐๐ ๐ฏ๐ฎ๐ฐ๐ธ-๐๐ผ-๐ฏ๐ฎ๐ฐ๐ธ ๐๐๐ฑ๐ด๐ฒ๐ ๐ฆ๐๐ฟ๐ฝ๐น๐๐ ๐ถ๐ป ๐ก๐ฒ๐ฎ๐ฟ๐น๐ ๐๐๐ผ ๐๐ฒ๐ฐ๐ฎ๐ฑ๐ฒ๐
The Treasurer has announced a $9.3 billion budget surplus for the current financial year ending in June.
This follows a $22.1 billion surplus in 2022/23 and is the countryโs first back-to-back surplus in almost two decades.
In addition to energy rebates and the incoming stage-three income tax cuts, the Budget aims to ease cost-of-living pressures by:
* Increasing the maximum rate of Commonwealth Rent Assistance by a further 10%
* Cutting $3 billion in student debt
* Cheaper medicines through a new Community Pharmacy Agreement
Treasury estimates these measures will lower inflation by 0.75 percentage points this year, and 0.5 percentage points next year.
The Treasurer said this could bring inflation back to the Reserve Bank of Australia's 2-3% target by the end of 2024, ahead of the central bankโs prediction of mid-2025.
Subiaco finance brokers are here to help
Interest rate rises are here, but you donโt have to fear with the right broker on your side.
The team at Sonam Capital are here to empower you through financial knowledge.
Weโll take the time to get to know you and your unique situation and speak in a
language you can understand, with strategies you can implement for the best possible outcomes.
Nick and Wayne at Sonam Capital are your Subiaco finance specialists.
