The Federal Budget 2017 was announced on Tuesday 9th May, with Treasurer Scott Morrison estimating the real growth in the Australian economy will rebound to 3% over the next two years and that the budget will reach a surplus of $7.4bn by 2020-21. Wage growth is also expected to increase from 2% to above 3% over the next four years.
The Budget 2017 addressed a multitude of issues including, but not limited to: infrastructure, banking levy, foreign investment, housing affordability, company tax cuts and small business incentives, changes to the medicare levy, and others.
For our business we need to be aware of measures which have a direct and indirect impact on the property market, as well as measures that will have an impact on business.
Dr Diaswati (Asti) Mardiasmo
National Research Manager