Federal Budget Summary October 2022.
For the second time in 2022, the government of the day has delivered a Federal Budget. Last night’s Budget was the first delivered by the new Labor government that was elected in May 2022.
Given the present state of the economy post-COVID, a worsening economic position due to inflation and increased global instability, rising interest rates and cost of living pressures, the Budget was conservative by nature. There were no big surprises.
While the Budget did not contain any single “hero” initiatives, it was wide ranging and introduced a variety of measures. Apart from addressing cost of living pressures, it could also be described as a “green” budget with several environmental initiatives being featured.
It goes without saying the measures announced in the Budget are not a fait accompli. They are subject to the successful passage of relevant legislation.
5 simple steps to get your finances in order
A recent report shows that one in six families in Australia are concerned about their current finances. We’ve put together five easy tips to get you back in control.
3 insurances you should have if you own property
We know it sounds boring, but insurance is a big deal when buying property. And it’s not just about protecting the bricks, mortar and everything you have inside the house. It’s about protecting your greatest assets - you and your family.
The action plan to get your debts paid off sooner
Many Australians live for years with debt that was only meant to be ‘short term’, often costing them thousands of dollars more in the long run. Paying off debt can free up cash and save you heaps in interest charges – which makes it a worthwhile goal to aim for. Here are some actions you can take to get you debt-free sooner.
What to look when choosing a super fund
For most people, the balance of their super fund is going to play a big part in determining the amount of income they will have in retirement. Choosing the right super fund now can make a big difference later on.