Government delivers surplus election friendly 2019-20 Federal Budget
A surplus election budget is the news coming out of the 2019-20 Federal Budget. With superannuation left largely untouched, the Government focused on further personal income tax cuts.
However, three key announcements include providing more flexibility for individuals to contribute at ages 65 and 66, the ability to choose their preferred exempt income tax method and increased funding for electronic super rollovers are welcomed.
This Federal Budget will provide much-needed stability and flexibility for SMSF members while looking to reduce red tape.