The 2020 Federal Budget is all about job creation, spending to make more jobs, and financial support. It creates one of the largest stimulus packages on record to promote economic growth and recovery. Below is a summary of the key measures that impact you depending whether you are still working and accumulating assets, or a retiree.   Taxation Initiatives for Employees, Investors, and Small Business   Personal Income Tax Measures From 1 July 2020, the Low Income Tax Offset (LITO) and the thresholds for the 19% and 32.5% personal income tax brackets are proposed to increase. This means the tax … Continue reading Federal Budget 2020 Key Initiatives and Impact on Your Finances –