New Tax Rules and Cost-of-Living Support in Australia's Budget
Treasurer Jim Chalmers delivers fifth budget with tax changes and cost-of-living relief. NDIS restructuring saves $37.8B over four years. Negative gearing restrictions for existing properties. $250 tax offset and $1000 instant deduction for work-related expenses. $53B allocated for defense programs. $25B boost to Medicare and public hospitals. Inflation expected to spike at 5% this year. Electric vehicle tax benefits phase down for vehicles under $75K