The Treasurer handed down the Budget 2016/17 in early May. Please note the summary below contains information around the coalition Government's proposals. What you need to understand is the Liberal Party have to be re-elected in this weekend's Federal Election. Then the proposals have to go through the parliamentary process and then assuming they get through the parliamentary process they receive Royal Assent. This means the proposals will then become law. Watch the space following the election to see what happens.
See below to read our Budget Snapshot.
Please Note: Many of the comments in this article are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances.