Budget 2024-25 Detailed Report

May 15, 2024
Download Report

Download our free detailed summary of the 2024 Federal Budget. The summary covers the key measures of the budget. Including:

  • Previously announced Stage 3 tax cuts
  • $300 energy bill relief for all Australian households and $325 for eligible small businesses - applied as an automatic quarterly credit.
  • Student HELP debts will be cut by changing the way indexation is calculated. From 1 June 2023, it will be the lower of the CPI or the Wage Price Index (WPI), reducing the debt accumulated by more than 3 million Australians when the CPI spiked to 7.1%.
  • Increase to the Commonwealth rent assistance maximum rates by 10% from 20 September 2024.
  • One year freeze on the maximum Pharmaceutical Benefits Scheme (PBS) patient co-payment for Medicare card holders and a five-year freeze for pensioners and other concession cardholders.
  • Extension of the $20k instant asset write-off until 30 June 2025.
  • For foreign residents, the capital gains tax (CGT) regime will be amended to broaden the type of assets subject to CGT and introduce a modified 365-day principal asset testing period.


If you have any questions be sure to comment below or get in touch.

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