2010 Federal Budget Update
What was announced and what does it mean for me?
On Tuesday 11 May 2010, the Rudd Government delivered the 2010 Federal Budget. According to the Government, this year’s Budget was designed to return Australia to surplus within three years.
After last week’s super announcements which were a result of the Henry Taxation review and were again confirmed in the Budget, there was little additional news on the super front.
Government Co-contribution income levels frozen
The Government Co-contribution will remain at the current 100% matching rate and the income levels for eligibility will not change for the next two financial years. This means the income thresholds will stay at $31,920 and $61,920 for the 2010/11 and 2011/12 financial years.
Find out more about the Henry Review super changes and what they mean for you.