Australian Federal Budget 2024-25

Article

On 14 May 2024, Treasurer Jim Chalmers handed down the 2024-25 Federal Budget.

Our Technical team have analysed all the key Budget announcements. Below you will find summaries and analysis of some of the major proposals and how they may affect you and your clients.

Tools and Resources:

The following briefing documents have been prepared by our Technical team and will give you an overview of the key announcements.

We’ve also prepared documents you can share with your clients. To make it easy for you to share, visit the Federal Budget hub for clients.

BT Academy Technical Webinar: Federal Budget Debrief

In case you missed the Federal Budget debriefing webinar hosted on Wednesday 15 May, you can now watch it on demand. The webinar, hosted by Bryan Ashenden, BT’s Head of Financial Literacy and Advocacy, delves into the key announcements and details what it means for clients, financial advisers and advice professionals.

BT Academy provides access to the latest ideas, trends and reports to help you realise new opportunities and assist with supporting your practice.
This selection of guides and tools are designed for financial advisers to use directly with their clients, helping them to understand some key financial planning topics including superannuation, investment risk in different asset classes and retirement planning. Access our guides and email templates that have been created to help make client engagement easier.
The digital opportunities that matter for financial advisers. In this dedicated hub you’ll discover the hidden opportunities advice firms can leverage by fully embracing a digital approach. Get practical tips and insights on how to get the most from BT Panorama for your business. It's all about making things easier and more efficient for you. Our Experience. Your Advantage.

This document has been prepared by BT, a part of Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian Credit Licence 233714 (West­pac) and information is current as at 14 May 2024. The information in this document regarding taxation and legislative change is based on policy announcements which are yet to be passed as legislation and may be subject to future change. This information does not take into account your personal objectives, financial situation or needs and so you should consider its appropriateness, having regard to these factors before acting on it. You should obtain and consider the relevant Product Disclosure Statement or other disclosure document, before making any decision about a product including whether to acquire or to continue to hold it.

This document may contain material provided by third parties derived from sources believed to be accurate at its issue date. While such material is published with necessary permission, the Westpac accepts no responsibility for the accuracy or completeness of, nor does it endorse any such third party material. To the maximum extent permitted by law, we intend by this notice to exclude liability for this third party material. This information does not take into account your personal objectives, financial situation or needs and so you should consider its appropriateness, having regard to these factors before acting on it. This document provides an overview or summary only and it should not be considered a comprehensive statement on any matter or relied upon as such.