The 2011/12 Federal Budget contains few surprises and will have minimal effect on most people. Tax benefits to individuals are modest due to the Government’s desire to save money.

Budget highlights

Key changes that may affect your financial plan:
∙ Pension payment relief continues at a lesser amount
∙ Some flexibility on excess concessional contributions
∙ Changes to concessional contributions for over 50s
∙ Better super information on payslips
∙ Fringe benefits tax on cars
∙ Minor tax improvements for low income earners
∙ Changes to tax offset for minors
∙ Improvements to family tax benefits
∙ Reduction in Higher Education Contribution Scheme discounts

Click here for the full brief (PDF)