Families, pensioners may get budget bonus

The federal government is reportedly considering one-off payments to families and pensioners ahead of the election due by May.

Australian dollars

تتحدث حلقة بودكاست لنحكِ عن المال عن أبرز خصائص صناديق السوبر أو التقاعد، لمعرفة كيف يمكن اختيار الصندوق الانسب في أستراليا. Source: AAP

Pensioners and some families could receive one-off cash payments from the federal government in a pre-election sweetener.

Senior advisors are looking at two one-off payments that could be included in the April 2 budget, the Australian Financial Review reported on Thursday.

If the government decides to go ahead with the plan, the payments - one for age pensions and another for families - could be distributed before the federal election, which is due by mid-May.

Treasurer Josh Frydenberg has not ruled out the measure, responding to an inquiry about the idea by simply saying the budget will continue the federal government's economic plan.

"The government will hand down the budget on 2 April 2019 building on our successful economic plan, which has already delivered over 1.2 million new jobs, lower taxes, record spending on health and education, and a budget on track for surplus - all without increasing taxes," he told AAP in a statement.

The payments idea would be aimed at those who missed out on previously legislated tax cuts and has been floating around since December, the AFR said.

The personal income tax cuts began in mid-2018, with low and middle-income offered a new tax offset and the threshold for the 32.5 per cent tax bracket lifted from $87,000 to 90,000.

The final round of cuts under the plan will take effect in 2024, and will mean 94 per cent of Australians won't have to face a marginal tax rate any greater than 32.5 per cent.

The plan is worth $144 billion over 10 years.


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Presented by Justin Sungil Park

Source: AAP



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