The Federal Government has stuck by its forecast of a budget surplus this year. The Government is targeting a surplus of $1.1 billion, down modestly on the $1.5 billion surplus forecast made in the May budget.
- More budget savings. The Government has announced measures to boost the budget bottom line by $1.4 billion this year and a further $8.9 billion in the following three years. Included are changes to private health rebates, payments to businesses for apprentices, payments to schools and universities as well as a reduction in the baby bonus are amongst measures.
- Revenue measures. Included are changes to Visa Application charges; changes to concessional fringe benefit tax treatment of some benefits; introduction of monthly pay as you go instalments for large companies.
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