Last night the Federal Government handed down the 2018-19 Federal Budget. The GPL team have reviewed the Budget and prepared a summary of the key measures to be considered. These include:
- An increased focus on the retirement income legislative landscape including a requirement for trustees to offer Comprehensive Income Products for Retirement (CIPRs)
- Pension Work Bonus increases
- Expanding the Pension Loan Scheme to all Australians of Age Pension age
- A superannuation work test exemption
- Personal income tax threshold changes.
Stay tuned for a follow up, to help explain what the Budget means for you.
Our team is happy to answer any questions on the Budget and can be contacted on 03 9851 6411.