2018 Australian Federal Budget – Winners and Losers
Construction and engineering
The government plans to spend big on infrastructure, which could reap a big windfall for the construction and engineering sectors.
Funding has been committed to establish a Consumer Data Right, a necessary building block for the progress of Open Banking and increasing innovation in the fintech sector.
Tax cuts for middle and lower income earners could bring good news for retailers.
Craft brewers will no longer pay an additional tax on small beer kegs, allowing them to compete with larger beverage companies.
Tech giants and foreign companies
The government has moved to further its crackdown on tax avoidance by multinationals and tech companies by closing more loopholes.
As the government provides funding for elderly people to stay in their homes, rather than in nursing homes or retirement villages, aged care stocks could suffer in the long term.
Renewable energy companies could take a hit as the government announced the emissions reduction target will remain at 26-28% and the current subsidy scheme for renewable energy will be phased out from 2020.
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