In this article we have summarised the high level points to take from the 2020 Federal Budget.

In this special report, our Head of Professional Standards & Technical Services, Craig Meldrum, looks at the key takeouts from the federal budget and what it means for individuals and businesses. It will include a summary of the tax, superannuation and social security changes that may impact wealth creation and retirement funding strategies for Infocus’ advisers and clients.

Within this month’s update, we share with you a snapshot of economic occurrences both nationally and from around the globe. Labour markets seemingly improve - Australian unemployment rate fell to 6.8%, still high but better than expected due in part to JobKeeper - RBA and government are expected to provide more economic stimulus - US presidential election may cause elevated volatility in financial markets We hope you find this month’s Economic Update as informative as always. If you have any feedback or would like to discuss any aspect of this report, please contact us.