Today's final Budget results for 2018-19
The Australian Government budget sets out the economic and fiscal outlook for Australia and includes expenditure and revenue estimates for the current financial year, the budget year and three forward financial years. It shows the Government's social and political priorities and how the Government intends to achieve these. The deficit was just $0.7 billion. And, this year, the Budget will return to surplus.
One key reason for a stronger Budget is that more Australians are in jobs.
Around 300,000 more jobs were created last financial year (more than 80% full time).
The rate of working age Australians on welfare is at its lowest level in 30 years.
A stronger Budget means we can afford to invest more in essential services.
For example, last year:
Health funding was $80.2 billion - up $19 billion since 2012-13.
Schools funding was $20 billion - up $7 billion since 2012-13.
Aged care investment was $19.8 billion - up $7 billion since 2012-13.
Spending on the NDIS more than doubled last year.
A stronger Budget is also the reason we have been able to deliver tax relief for over 10 million workers and 3.4 million small businesses.
The Government's economic plan is working. Our Budget will be back in the black this year.
This is in stark contrast to Labor, who have not delivered a Budget surplus since 1989!
Over 6 years, Labor racked up 6 record deficits, totalling $240 billion.
We will continue to deliver strong economic management, to benefit all Australians.
If you have any further questions or would like to book an appointment to discuss how this affects your small business, please don’t hesitate to call me or the Aspire Now team on (07) 3899 8062 for assistance.
Aspire Now through its Tax Agent Partners – Acro Accounting & Advanced Accounting ensure you pay no more Tax than required in a compliant environment.
NOTE: LIKE US ON FACEBOOK AND STAY UP TO DATE. CLICK HERE: https://business.facebook.com/AspireNow.PtyLtd/
Mr. Carlos Rodriguez -Principal at Aspire Now
For more inquires please contact:
T: (07) 3899 8062
M: 0411 153 784