Australia Budget 2019-20 Delivered Including Tax Relief for Individuals and Smaller Businesses

On 2 April 2019, Australian Treasurer Josh Frydenberg delivered the country's Budget 2019-20. The tax-related measures of the Budget are relatively limited and include the following:

• An increase in the low and middle income tax offset for individuals, with an increase in the base amount to AUD 255 and an increase in the maximum amount to AUD 1,080, which applies from 1 July 2018;
• An increase in the maximum low income tax offset for individuals to AUD 700, which applies from 1 July 2022;
• An i…