chatterbug Posted May 9, 2006 Report Share Posted May 9, 2006 Hi All,I don't want to focus on the financial/economic benefits/issues of the "hot off the press" 2006 budget, but man oh man isn't it a nice feeling! For the third year in a row I, and my family (sort of middle class - I think), stand to directly benefit from the Australian budget, put forward by Mr Costello. I cannot remember how long ago I had this experience/if at all as a working soul in RSA. Coming here I didn't bargain on all of these "offerings" things like "family assistance" payments, "maternity payments" and the "first time home owners grants". Sheez how nice to have a bit of a government initiated windfall for a change!What do you guys think??VIVA Australia!Grateful BUG! Quote Link to comment Share on other sites More sharing options...
Bob Posted May 10, 2006 Report Share Posted May 10, 2006 (edited) just summarising the goodies for most folks here:Income tax cuts: you pay 15% income tax, in the new financial year starting on 1st July, on every dollar of income over $10,000 and up to $25,000 (previously up to $21,600) 30% income tax on every dollar of income over $25K up to $75K (previously $63K) 40% income tax (previously 43%) on every dollar over $75K to $150K (previously $95K) then 45% income tax (previously 47%) on every dollar over $150K Large family supplement of $278 a year will be given to families having THREE or more children (previously four or more kids) Heaps more "goodies" for retired folk and families on low incomes. Peter Costello (good ol' fashioned name from Cornwall) deivered his eleventh "May" Budget for the incoming financial year and forecasts strong growth for Australia for the next three years, at least. Edited May 10, 2006 by Bob Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.