The Australian Budget

Major aspects are:

  • for 37% tax rate moves from $80,000 to $87,000
  • a “temporary” 2% tax hike on over $180,000 to end in 2017
  • company tax rate to reduce to 25%
  • $594 million for a link from Brisbane to Melbourne
  • $2 billion for water
  • Cigarette excise up 12.5% a year for four years
  • Deficits to continue until at least 2020 with A$37b year

If was in I'd be fairly unimpressed with another five or more years of deficits and a take hike on income earners.

Expect to see the flow to NZ continue.

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