Last night’s Budget contained few unexpected changes and largely focussed upon:
Small business tax concessions to encourage investment and boost employment.
Families and the new Child Care Subsidy which will leave many better off.
Pensioners and a harsher assets test which will mean a reduced or no pension for some people.
By contrast, the superannuation system remains laregly untouched although fund members with a terminal illness will be able to access their benefits at an earlier stage.
However, it should be remembered that many of the proposals start in 1-2 years time and are contingent upon being passed through the parlaiment, which may not occur in some cases.