2014 Federal Budget: Food for Your Budget Thoughts

2014 Federal Budget: Food for Your Budget Thoughts

There is little room for escape from less disposable income from the budget, with family tax benefit changes, tax offsets shrivelling up and disappearing, increasing tax rates, and the reindexing of the fuel excise.

Unless you think about it a bit.

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When the fuel excise indexation stopped 12+ years ago most of us were driving motor vehicles that were far less efficient.  There have been significant cumulative improvements in vehicle efficiency in the last decade or so, that for many, means household petrol costs now are less than they were 15 years ago, despite much higher fuel prices.

And if the petrol is too much, use public transport a bit more, or the soles of your feet.

How many live in a street where everyone’s default movement from their front door is almost invariably to their vehicle door, rather than in sneakers and down the footpath.

And check your grocery receipts.  Do you have lots of asterisks identifying all the items that you are paying GST on?  There are very often the bad, unhealthy, naughty stuff that your great grandparents probably would not recognise as ‘food’.

Food, in its purer forms, is exempt from GST.  So if you are buying pizzas, take-away coffees and brioche, sweetened drinks and yogurt and chips and ice cream and frozen meals, you might find you are paying quite a bit of GST on your regular grocery runs.

Swapping these items for fresh fruit and vegetables (veggie patch, anyone?), rice, fresh meats, etc, and you might find (1) you save money (2) you enjoy a healthier weight.

So save tax, be healthier, and avoid the Budget nasties!

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2014 Federal Budget: Budget Economics – Not Tough Enough!

2014 Federal Budget: Budget Economics – Not Tough Enough!