The Federal election outcome took most people by surprise. What does the return of a Coalition Government mean for you, particularly with regard to taxation, superannuation and business?
Most of what the Coalition has promised was announced in the 2019-20 Federal Budget delivered on 2 April. This includes:
For more Federal Budget announcements, click below.
In addition, the Coalition promised in the lead up to the election to allow eligible buyers to purchase a first home with a deposit of just 5 per cent or more of the purchase price under a government-backed guarantee. An income threshold of $120,000 for singles and $200,000 for couples is to apply.
First home borrowers will still have to borrow the remaining money from the bank and take out a larger loan but the Government will provide a loan guarantee on that 15 per cent to encourage banks to lend the money. This means some families will be taking out a 95 per cent loan to value ratio.