The 2018 Federal budget was handed down by Treasurer Scott Morrison in Canberra on Tuesday 8 May in the midst of Australia experiencing its 27th year of consecutive growth.

Global growth is at its fastest pace in six years and on average 1000 jobs per day have been created over the last year in Australia.

Some of the measures of this years' budget include:

  • A seven year personal income tax plan, including immediate relief for low and middle income earners
  • Legislation of lower taxes for small business
  • An extension of the $20,000 instant asset tax write off for another 12 months
  • Improvements to the National security architecture

To read the taxation summary of the Federal Budget 2018-19 click here