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Date of article: 5 June 2008
Last updated: N/A

Budget 2008 Highlights

Key measures

  • No major surprises
  • Proposed comprehensive review of the tax system
  • Confirmation of previously announced personal tax cuts
  • Only few changes to superannuation
  • Goal to achieve over six years to three levels of personal income tax rates – 15%, 30% and 40%.

Economic forecast
Australia’s real growth is forecast to slow to 2.75% in 2008-09. Inflation is forecast to be ease from 4% to 3.25%.

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