Image: Courtesy A. Copp

The Mid-Year Economic and Fiscal Outlook (MYEFO) is primarily a budget update, but sometimes can be a mini budget with further changes or more policy initiatives.

In fact this time there is $4.7 Billion of Government policy initiatives that we don’t yet know about.  Hopefully more announcements will come, but the boost to the budget coffers has mainly come from taxpayers.

Stage 3 tax cuts are going ahead, passports now cost $50 more, but bracket creep means that pay rises could put you up in the next tax bracket.

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