Click here for the Securitor budget update for 2008 which examines in detail the measures announced in last night’s federal budget. In the lead-up to this, the first budget for the new Rudd Labor government, there was considerable speculation over the measures that would be announced. In the end, there weren’t many surprises, with many measures being announced or alluded to in the days and weeks leading up to the budget's release.
From a financial planning perspective, the three main areas of reform were:
• Personal income taxes
• Child care and family related issues
• Social security changes
In addition, there were a number of other announcements that it will be important to be aware of and keep an eye on into the future.