The FY23 budget deficit is now forecast to be a much smaller $37b (1.6% GDP) compared to the $78b predicted in the April pre-election fiscal update. However, the deficit begins to expand again in FY24 and stays stubbornly high. In this special report, our Investment Strategy Group and Planning Team share their views on the 2022 Federal Budget.

Unpacking the 2022 Federal Budget and what it means for clients, Wilsons Advisory Head of Investment Strategy, David Cassidy, and Senior Leader in Private Wealth Advisory, Paul Aliprandi share their views on the Budget from a macro and tax planning perspective.

The insurance sector has been hit hard since early 2020, underperforming the market by almost 25%. A combination of stock and industry concerns, against a difficult claims environment, has weighed on equity prices. Two-thirds of major players in 2020 were forced to raise common equity capital in response.

As we draw nearer to the end of the 2021 financial year, it’s a good time for clients to speak with their Advisor to consider strategies that could be beneficial to their financial well-being.