On 2 April 2019, Treasurer Josh Frydenberg delivered Australia’s federal budget for 2019-20. Coming ahead of a likely May federal election, the budget lays the foundation for the government’s re-election campaign, and highlights the Coalition’s economic management with the first budget-year surplus in over a decade. The budget also promises significant personal income tax cuts along with significantly increased funding for small businesses, infrastructure and a range of essential services.

In the following update, we provide a summary of the key announcements from the budget from the perspective of investors and briefly outline the potential economic impacts.

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