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Here are five highlights from the federal budget:
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1. Australia will post a $4 billion budget surplus in the 2022-23 financial year โ the first surplus in 15 years.
2. Economic growth is forecast to slow from 3.25% in 2022-23 to 1.5% in 2023-24 before rising to 2.25% in 2024-25 (see graph)
3. More than five million households will receive up to $500 in electricity bill relief in the next financial year
4. To stimulate the construction of new build-to-rent projects, and put downward pressure on property prices and rents, the managed investment trust withholding tax will be reduced from 30% to 15%
5. The Nationwide House Energy Rating Scheme will be expanded from new homes only to existing dwellings as well, so homeowners can get an energy rating for their property and decide how to make it more energy-efficient
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, Wayne and Amanda at Sonam Capital are your Subiaco finance specialists.
