2020 Federal Budget review

SMATS Group chairman Steve Douglas provides a detailed rundown of how COVID-19 has affected the federal government’s finances, what initiatives are being utilised to stimulate the property sector and what taxation changes will mean for property markets across the country.

Treasurer Josh Frydenberg presented his Budget to Parliament on Tuesday October 6, rather than the traditional second Tuesday in May.

As with so many things in 2020, it was postponed due to the COVID-19 pandemic causing massive financial and physical disruptions.

In submitting this budget, we gain a full insight into the real financial impact that COVID-19 has had on the Australian economy and government finances, not just this year but for many years to come.

It has taken a small surplus and flipped it into the largest single deficit in Australian political history, taken a prosperous financial future and committed Australia to years of shortfall and increasing debt, and triggered the largest ever social support structures seen in Australia.

Australia is not alone in these tough times, with Covid-19 wreaking havoc the world over.

We trust this webinar gives you a clearer understanding of the Budget Announcements including:

• How Covid-19 has impacted the Federal finances of the Australian Government
• What initiatives are being taken to deal with the contraction and restore the economy
• How far the Government has to go to re-stimulate and drive out of the Covid-19 Recession
• The latest taxation changes and how they may impact you and the Australian property market generally

View the Budget Review Webinar