To subscribe, advertise or contribute articles to www.australianmanufacturingnews.com contact publisher@xtra.co.nz
  • Home
  • Latest News
    • Developments
    • Manufacturing Technology
    • Products
    • Future of Manufacturing
    • Trade Shows/Events
    • Energy
    • Business
    • Daily News
    • Company News
  • Smart Manufacturing
Australian Manufacturing News
The official site for the Australian Manufacturing News magazine
  • Home
  • AI
  • Architecture
  • Aviation
  • Big Data
  • Books
  • Business
  • Company News
  • Covid-19
  • Daily News
  • Developments
  • Energy
  • Environment
  • Future of Manufacturing
  • Smart Manufacturing
  • Manufacturing Technology
  • Mining
  • Products
  • Resources
  • Smart Manufacturing
  • Space
  • Sustainability
  • Trade Shows/Events
  • The Creative Class
  • Uncategorized
  • Webinars

News Ticker

Australian made concussion diagnosis device exported to US
Climate Impact Corporation announces 10GW renewable hydrogen projects in South Australia and Northern Territory
Over 30 trades represented at 47th WorldSkills International
Securing OT  key to unlocking Australia’s manufacturing vision in an ever-growing threat landscape
Australian astronaut Katherine Bennell-Pegg to headline international space symposium in Brisbane
The Budget 2024: Comment and Feedback on Energy Policies
Hunter class frigate program passes Preliminary Design Review milestone
Decarbonising our cities

Budget 2019

The bottom line will surge to a surplus next financial year on the back of higher than expected revenues from commodities, strong corporate profits and low unemployment.

The estimated surplus of A$7.1 billion for 2019-20 will be the first time the budget has entered positive territory since 2007-08.

How will the government spend this unexpected windfall of revenues?

Simplifying the tax system will cost the government $158 billion over the next ten years. The measures include:

  • doubling the low and middle income tax offset from $530 to up to $1,080 for people earning up to $126,000, starting from the current 2018-19 financial year
  • changing the 32.5% threshold to be $45,001 to $120,000 from 2022-23, with the 19% bracket covering incomes from the tax-free threshold up to $45,000
  • reducing the 32.5% tax rate to 30% from 2024-25 onwards, and changing the income thresholds so that the 30% rate applies to all earners from $45,000 to $200,000
  • removal of the 37% rate altogether from 2024-25.


Despite the boost in revenue the government expects to reach its long-term target of surplus being 1% of gross domestic product later than estimated in the December budget update.

The government now expects surplus to exceed 1% of GDP in 2026-27.



This budget, like many before it, predicts wages to increase over the next four years. The government expects the wage price index to increase from its current 2.1 to 3.5 by 2022-23.



Net debt as a share of the economy is expected to peak in 2018-19 (19.2% of GDP), and will then commence a downward trend until fully eliminated in 2029-30.



Government receipts are expected to climb from 24.2% of GDP in 2017-18 to 25% by 2022-23. Payments are expected to be 24.5% of GDP in 2022-23.


Share this:

Related Posts

John Whittle CSIRO

Company News /

Does AI actually boost productivity? The evidence is murky

Allegro Energy_Dr Thomas Nann_1

Daily News /

Allegro Energy positions its proprietary LDES as a clean power backbone for data centres

DroneShield's current in-house production facility in central Sydney

Developments /

DroneShield to invest as it expands manufacturing capacity

‹ Labor’s climate policy: a decent menu, but missing the main course › Budget tax-upmanship as we head towards polling day

27th July 2025

Recent Posts

  • Does AI actually boost productivity? The evidence is murky
  • DroneShield to invest as it expands manufacturing capacity
  • Robotics, automation and supply chain challenges to headline at Sydney-based industry conferences
  • Rockwell Automation’s ROKLive 2025 brings the connected wnterprise to life on the Gold Coast
  • Allegro Energy positions its proprietary LDES as a clean power backbone for data centres
  • Nexobot selected as finalist in Australia’s first AI and Robotics sprint
  • EPOC Enviro launch lean and nimble SAFF®10 PFAS remediation technology
  • Why “less is more” may be the trick on ESG

Categories

  • AI
  • Architecture
  • Aviation
  • Big Data
  • Books
  • Business
  • Company News
  • Covid-19
  • Daily News
  • Developments
  • Energy
  • Environment
  • Future of Manufacturing
  • Manufacturing Technology
  • Mining
  • Products
  • Resources
  • Smart Manufacturing
  • Smart Manufacturing
  • Space
  • Sustainability
  • The Creative Class
  • Trade Shows/Events
  • Uncategorized
  • Webinars

Back to Top

  • Home
  • AI
  • Architecture
  • Aviation
  • Big Data
  • Books
  • Business
  • Company News
  • Covid-19
  • Daily News
  • Developments
  • Energy
  • Environment
  • Future of Manufacturing
  • Smart Manufacturing
  • Manufacturing Technology
  • Mining
  • Products
  • Resources
  • Smart Manufacturing
  • Space
  • Sustainability
  • Trade Shows/Events
  • The Creative Class
  • Uncategorized
  • Webinars

To subscribe, advertise or contribute articles to australianmanufacturingnews.com contact publisher@xtra.co.nz

(c) Australian Manufacturing News, 2025