On 13 May 2014 Joe Hockey delivered his first Budget as Federal Treasurer, with a theme of building a strong and prosperous economy and repairing the budget deficit. All Australians are being asked to pitch in to repair the deficit, with a projected surplus in 2024/2025.
In terms of increased taxes, there are very few, however the Government has announced tightening to Centrelink and other Welfare concessions (including the freezing of thresholds and payments), with expected savings into the $Billions over the forward estimate period.
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