How much tax savings will you get?
Updated: Nov 9, 2020
The Federal Government’s 2020 Budget revealed some nice tax cuts for most tax-paying Aussies. More money will be kept in your pocket - but just how much exactly?
Usually, after a big political event such as the Federal Budget, you'll see so much information being thrown around email and over the internet that it's hard to find concise details. I’ve found a pretty easy to read article on the ABC news site here which gives a good overview of the tax cuts - and as a bonus gives you a tax savings calculator the play with.
Go ahead, plug in your income and see for yourself. The calculator will show your estimated tax savings for this year and over the coming years. I liked it and thought you might too.
Shaun O'Keefe is a fee-based financial planner serving the families of the Peregian community to help set themselves up to build and successfully transfer their wealth between the generations. While some advisers focus specifically on investments or retirement planning, he's chosen to focus 'Financial planning for the whole family’. Subscribe
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