Straight to content

Welcome to the 2011 Federal Budget editon of E-Link

This is the third year of the Bongiorno Budget Newsletter and our aim once again is to summarise the plethora of announcements that are contained in the Budget.

The major announcements by the treasurer, Wayne Swan, were as follows:

Additional training packages, modernised and accelerated apprenticeships, and initiatives aimed at getting long-term unemployed and disabled people, as well as single mothers and older workers, back into the workforce.

The intention to invest $36 billion in vital roads, railways and ports, such as the Moreton Bay Rail Link in Queensland, the Gateway Project in Western Australia, the Western Ring Road Upgrade in Victoria, and additional funds to duplicate the Pacific Highway.

There will be a large investment in mental health, health infrastructure and regional health facilities.

A new investment of $800 million in schools, training teachers and support for disabled students.

Below are more specific snapshots of the areas of the Budget that we think will affect our clients. Please note, there is so much information in the Budget that we cannot cover it all in this forum. Feel free to contact your Bongiorno Adviser for more details on anything covered here or any other items you may have seen or heard about not featured below.


The Bongiorno Team

Personal tax rates to include Flood Levy

For the first time in several years, personal tax rates have not changed. However,the flood levy applicable from 1 July 2011 could be seen as a tax increase for many...
Read More »

Tax changes to affect minors

Changes to the Low Income Tax Offset and to trust distributions will affect non-working minors ...
Read More »

Changes to spouse rebate

The new federal budget’s focus on jobs and encouraging full employment includes removing the dependant spouse rebate...
Read More »

Superannuation changes

Changes to the excess contributions regime, which will help those who make small errors, are among a raft of superannuation changes announced in the federal budget...
Read More »

Motor vehicle tax-break changes

Two federal budget changes affect motor vehicle owners: one benefit has been added and another has been removed...
Read More »

Changes to HECS

Paying a lump sum off your HECS debt before 31 December can save you money...
Read More »

Self-education claims for those on Youth Allowance

The ability of Youth Allowance recipients to claim self-education costs has been short-lived ...
Read More »

More money in the hands of low income earners

Changes to the Low Income Tax Offset and the Medicare Levy low-income threshold will put more money in the hands of low income earners...
Read More »