2024/25 Federal Budget Overview

Budget still in surplus, though deficits are coming.

Energy rebates across the board.

The tax changes we already knew about.

Deeming rates held again for pensioners.

A blow out in one budget line.

• Pensioner Loans Scheme extended to all Australians over 65.

• Exit fees on superannuation accounts banned.

• Work test waived for super members over 65 with under $300k balances.

• Capital expenditure write offs extended for small business.

• Medicare Levy holds at 2%.

• Increases to the Low Income Tax Offset.

Last night’s budget was notable for its lack of major superannuation meddling for once. So, in the absence of any truly significant changes, we’ve pulled out the key points for you to consider.