At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent.
In 2018/19
• Low and middle income earners will benefit from tax savings as a result of an increase in the low and middle income tax offset.
• The instant asset write-off threshold will increase from $20,000 to $30,000 for small and medium sized businesses with aggregated turnover of less than $50 million.
• A one-off payment will assist eligible social security and DVA recipients with the cost of energy bills.
• Aged Care funding will increase.
From 1 July 2019
• The Partner Service Pension will be available to former spouses of veterans.
From 1 July 2020
• People aged 65 and 66 will be able to make voluntary super contributions without having to meet the work test.
• The age limit for spouse contributions will increase to 74.
• More flexibility will be provided when calculating exempt current pension income
When we invest or deal with money do we misbehave? It is in our makeup to misbehave when it comes to money and investing. One of the psychological factors that has a huge impact on our financial decision making is our ego and so, before we go any further, the first thing you must do is let go of this and accept that you’re just as culpable of these misbehaviours as everyone else.