Federal Budget 2019

It's the economy... and a looming election

On 2 April, Federal Treasurer Josh Frydenberg announced the first Budget surplus in 12 years, boasting an underlying cash surplus of $7.1 billion in 2019-20, with $45 billion in surpluses projected over the next four years.

Super moves court the older vote

Older Australians will be able to make voluntary super contributions without meeting the current work test under proposed new laws announced in the Budget.

Insurance opt-in for low balance and new superannuation accounts for under 25s

The Government will delay the start date to 1 October 2019 for ensuring insurance within super is only offered on an opt-in basis for accounts with balances of less than $6,000 and new accounts belonging to those members under the age of 25.

Future-proofing the workforce

Up to 80,000 new apprenticeships will be created in industries with identified skills shortages as part of a $525 million skills package announced in the Budget.

Getting in the right headspace

Young people will gain faster access to mental health treatment and early intervention services under a $461 million mental health and suicide prevention strategy.

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2019 Federal Budget announcements are proposals only. They have not been legislated and may be subject to change.

The material contained on this site is based on information received in good faith from sources within the market and on our understanding of legislation and government press releases at the date of publication which we believe to be reliable and accurate. TWUSUPER, Mercer or any of its related parties do not accept any responsibility for any inaccuracy.