How the Budget might affect you

In their latest Portfolio Watch, P&N Financial Planning explains some of the key points of the 2017 Federal Budget.

Key points:

• the Pensioner Concession Card will be returned to those people who lost it following the 1 January 2017 changes to the assets test
• those over 65 years of age are able to contribute up to $300,000 to super from the sale of the family home
• tax deductions for travel expenses relating to rental properties ceased
• the Temporary Budget Repair Levy will cease from 1 July 2017
• First Home Super Saver Scheme of up to $30,000 for first home buyers.

Please remember that these are proposals only and are subject to the passing of legislation.

For more information please read the latest Portfolio Watch or talk to your Financial Planner.