This year’s budget was certainly no overhaul, but has made the most of strong economic conditions. Tax cuts were the primary take home message for income earners and despite no immediate windfalls, a few extra dollars in your pocket never goes astray.
There have been some minor tweaks to superannuation such as the ability for young people to opt in to insurances within super, and a ban on exit fees. These measures are in keeping with a more broad, strong and welcome shift towards financial services businesses acting in the best interests of clients, something that we have long been passionate about at Westlawn.
A Westlawn professional can assist you to improve your financial position by helping you to navigate legislative change as well as changes in market conditions, helping you to champion your own unique and highly personal financial goals.
We’re very happy to share with you this excellent video from MLC, breaking down the tax cuts that will be phased in over seven years and affect different people at different times.