'Tax Cuts for All' was the Budget Headline, and that was certainly the highlight.
A $750 tax cut for all Australian's was the highlight - and provided another year of tax cuts. This is a tremendous economic environment in which to be creating wealth, and if people are not taking the opportunity now, they never will. It is a time to rememer that things are not always this good financially!
There was an interesting move toward allowing the trading of forestry investment schemes. This is potentially good for investors as a 'secondary market' will allow more flexibility in buying and selling these schemes. It is only a small step, however it might see progress toward the development of another asset class - forestry investment - that is 'investment worthy'.
There was a bonus for people who made a superannuation co contribution last financial year. This is a scheme where all people who earn less than $58,000 can make a contribution to superannuation and for every personal contribution of $1 the Government will add a further $1.50 - up to a set limit.
For full details of our 2007 Personal Finance Budget Summary please click here.