the 2011 Federal Budget
There were very few surprises in the 2011/12 Federal Budget. In fact the usual pre-budget leaks were quite accurate.
The budget is forecasted to return to surplus in 2012/13. Tax receipts are lower, particularly from companies due to losses built up during the global financial crisis, a higher dollar and record mining investment and associated tax deductions. Spending initiatives and tax benefits to individuals are very modest due to the desire to achieve a surplus.
if you're into the details read ipac's indepth analysis report highlights effects on financial planning, the economy and your investments.
if you want the quick facts read ipac's Federal Budget snapshot
Please note changes outlined in this summary are proposals only at this stage, and will not take effect until the passage of relevant legislation.