Register For Our Mailing List

Register to receive our free weekly newsletter including editorials.

Budget 2019: more news, views and videos

Highlights of sponsor coverage of the 2019/20 Federal Budget.

Shane Oliver of AMP Capital also provided this brief summary of Labor's Budget Reply:

"In terms of the election, Opposition leader Bill Shorten’s Budget reply speech confirmed that a Labor Government will adopt a very different approach to economic policy. The key elements of this include supporting the Government’s immediate 'tax cuts' for middle income earners and increasing them for low income earners, but increasing (not decreasing) tax rates for higher income earners, restricting negative gearing, halving the capital gains tax discount, ending cash refunds for franking credits, a more aggressive climate policy, higher minimum wages with some labour market reregulation and more spending on health and education. As always, much of this will be dependent on Senate passage and that’s not assured in some areas (like negative gearing). But it will likely lead to nervousness in the Australian share market and the changes to negative gearing and capital gains tax will be negative for property prices. If Labor wins, expect a mini-budget in the September quarter.

But its clear that both sides of politics are aiming for budget surpluses and committed to tax relief for low and middle income households to be received after they complete their 2018-19 tax returns. The latter will provide some boost to spending in the September quarter (although the Rudd payments in the GFC indicate that much will be saved) which along with likely RBA rate cuts, continuing strong infrastructure spending, improving business investment and strong export demand should keep the economy growing despite the drag from the housing downturn – just not as strongly as the Government and RBA are forecasting."

The highlights from Bill Shorten included:

  • $2.3 billion to cover specialist appointments and scans for cancer treatment.
  • Matching the Coalition's tax cuts for workers earning between $48,000 and $126,000.
  • No support for the Coalition's plan to flatten the tax system by reducing rates on higher earners.
  • A big commitment to NDIA staffing and TAFE funding.

Additional Budget commentary

AMP Capital

Chief Economist, Shane Oliver, recaps the key measures put forward and considers how they might affect the Australian economy and investment markets. Watch and read here

Oliver's Insights

The 2019-20 Australian Budget - the long awaited surplus and the promise of more tax cuts ahead of the election. View PDF

Colonial First State

Head of Technical Services, Craig Day, has shared a detailed briefing paper covering the key budgetary measures discussed by Treasurer Josh Frydenberg including tax, super, social security, and aged care.

nabtrade

Budget Hub: www.nabtrade.com.au/budget2019

Video: Three key Budget takeaways

Gemma Dale dissects the tax, super and social security proposals from this year’s Budget. Watch now

Budget highlights at a glance

From economic forecasts to infrastructure spending, our infographic provides a snapshot of key Budget announcements. View PDF

Video: What are the stock market implications?

Peter Switzer and Paul Rickard discuss which stocks and sectors could benefit from this year’s Budget. Watch now

Podcast: Budget in-depth

We discuss key Budget proposals at length and what they could mean for you. Listen now

Perpetual

Federal Budget 2019 - Black ink and lower taxes. View here

SuperConcepts

Federal Budget 2019 - SMSF changes

A recap from leading SMSF expert Peter Burgess. View PDF

Video: What it means for superannuation & SMSFs. Watch now

 


 

Leave a Comment:

banner

Most viewed in recent weeks

Which generation had it toughest?

Each generation believes its economic challenges were uniquely tough - but what does the data say? A closer look reveals a more nuanced, complex story behind the generational hardship debate. 

Maybe it’s time to consider taxing the family home

Australia could unlock smarter investment and greater equity by reforming housing tax concessions. Rethinking exemptions on the family home could benefit most Australians, especially renters and owners of modest homes.

The best way to get rich and retire early

This goes through the different options including shares, property and business ownership and declares a winner, as well as outlining the mindset needed to earn enough to never have to work again.

A perfect storm for housing affordability in Australia

Everyone has a theory as to why housing in Australia is so expensive. There are a lot of different factors at play, from skewed migration patterns to banking trends and housing's status as a national obsession.

Supercharging the ‘4% rule’ to ensure a richer retirement

The creator of the 4% rule for retirement withdrawals, Bill Bengen, has written a new book outlining fresh strategies to outlive your money, including holding fewer stocks in early retirement before increasing allocations.

Simple maths says the AI investment boom ends badly

This AI cycle feels less like a revolution and more like a rerun. Just like fibre in 2000, shale in 2014, and cannabis in 2019, the technology or product is real but the capital cycle will be brutal. Investors beware.

Latest Updates

Weekly Editorial

Welcome to Firstlinks Edition 628

Australian investors have been pouring money into US stocks this year, just as they start to underperform the rest of the world. Is this a sign of things to come? This looks at 50 years of data to see what happens next.

  • 11 September 2025
Exchange traded products

Are LICs licked?

LICs are continuing to struggle with large discounts and frustrated investors are wondering whether it’s worth holding onto them. This explains why the next 6-12 months will be make or break for many LICs.

Retirement

We need a better scheme to help superannuation victims

The Compensation Scheme of Last Resort fails families hit by First Guardian and Shield losses, as well as advisers who are being wrongly blamed for the saga. It’s time for a fair, faster, universal super levy solution.

Investment strategies

5 charts every retiree must see…

Retirement can be daunting for Australians facing financial uncertainty. Understand your goals, longevity challenges, inflation impacts, market risks, and components of retirement income with these crucial charts.

Economy

How bread vs rice moulded history

Does a country's staple crop decide elements of its destiny? The second order effects of being a wheat or rice growing country could explain big differences in culture, societal norms and economic development.

Investment strategies

Small caps are catching fire - for good reason

Small caps just crashed the party like John McClane did in the movie, Die Hard - August delivered explosive gains. With valuations at historic lows, long-term investors could be set for a sequel worth watching.

Defensive growth for an age of deglobalisation, debt and disorder

Today’s new world order appears likely to lead to a lower return, higher risk investment environment. But this asset class looks especially well placed to survive, thrive, and deliver attractive returns to investors.

Economy

Will we choose a four-day working week?

The allure of a four-day week reflects a yearning for more balance in our lives. Yet the reliability of studies touting a lift in productivity is questionable and society may not be ready for such a shift anyway.

Sponsors

Alliances

© 2025 Morningstar, Inc. All rights reserved.

Disclaimer
The data, research and opinions provided here are for information purposes; are not an offer to buy or sell a security; and are not warranted to be correct, complete or accurate. Morningstar, its affiliates, and third-party content providers are not responsible for any investment decisions, damages or losses resulting from, or related to, the data and analyses or their use. To the extent any content is general advice, it has been prepared for clients of Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892), without reference to your financial objectives, situation or needs. For more information refer to our Financial Services Guide. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement before making any decision to invest. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a professional financial adviser. Articles are current as at date of publication.
This website contains information and opinions provided by third parties. Inclusion of this information does not necessarily represent Morningstar’s positions, strategies or opinions and should not be considered an endorsement by Morningstar.