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BUDGET 2016: Here's what you need to know

Tuesday, 3 May 2016

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Good evening, here's what you need to know about the 2016 budget.
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BUDGET 2016: A NUDGE IN THE RIGHT DIRECTION

Treasurer Scott Morrison may have just delivered a perfectly pitched budget from a behavioural economics point of view with a set of measures which neatly "nudge" Australians across the broad spectrum of the economy toward the government's twin goals of jobs and growth.
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BUDGET 2016: Here's what you need to know

Small businesses and middle income earners get the handouts in a federal budget that promises to control spending growth, make savings and keep chipping away at the deficit.
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The government has introduced a $50 billion infrastructure plan

The federal government plans a record $50 billion in infrastructure spending up to 2019-20. 
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Here are the details of Australia's 'Google tax' crackdown on multinationals

The 2016 federal budget confirms the government is throwing more resources at its crusade to get multinationals paying "their fair share" of tax on income earned in Australia.
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Here are the income tax changes

Changes to the tax tables by moving the threshold at which the 37% rate kicks in will mean a saving about $315 for someone earning $87,000. 
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HERE THEY ARE: The economic forecasts vital to ensuring Scott Morrison's budget goes to plan

Treasury sees real GDP growth of 2.5% in 2016/17 before accelerating to 3.0% in 2017/18, levels at-or-around what many deem to be Australia's new trend growth rate.
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Here's Scott Morrison's 2016 budget speech in full

Treasurer Scott Morrison has handed down his first budget. 
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Defence spending 'will create high-tech jobs'

The 20-year defence industry plan in the budget shows 3,600 direct jobs as part of the naval shipbuilding program and makes significant investments in defence capability and cyber security.
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BUDGET 2016: The NBN's costs could blow out even more - and it's fast running out of money

The NBN is running out of money, with its final $8.8 billion of public funding set to be delivered by the end of the 2016/17 financial year, the 2016 federal budget reveals.
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Treasury sees iron ore at US$55 a tonne next year

One of the key numbers many look for in the budget is the forecasts for the iron ore price, an understandable outcome given its importance to budget revenues as Australia's most valuable goods export.
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There's a really shocking plan for when you have to repay HECS debts hidden in the Budget

University fees for popular courses are set to rise dramatically with the Turnbull government introducing partial deregulation it's dubbed "alternative model flexibility".
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Australia's fintech industry gets a sandbox in the budget

The federal budget acknowledges the growth of Australia's growing fintech industry disrupting the financial services sector. And $200,000 has been budgeted to promote Australia as a fintech development centre.

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