The 2018 Federal Budget was announced a month ago today. Your guide to what the ugdet means for individuals next year and beyond. The Federal Government's budget included a raft of changes to tax for individuals. They have proposed a three step Personal Income Tax Plan, aimed to benefit low and middle income Australians; increased medicare levy thresholds; and the removal of tax deductions for expenses associated with holding vacant land. Step 1: Targeted tax relief for low a

Confused by the federal budget? Let us shine some light on the key proposals with tax implications in less than 500 words. Individuals: A new Personal Income Tax Plan to be introduced over 6 years. Aimed at relief for low and medium income Australians it includes a new offset, temporarily increase the threshold of the 32.5% tax bracket and eventually remove the 37% tax bracket entirely. A increase to medicare levy low-income thresholds from the 2018 financial year. Removal of