Federal Budget Tax Cuts much bigger than first thought, delivering cuts up to $11,800.
Scott Morrison did his best at explaining the tax cuts on budget night but how many Australians understood exactly what it means to them? With talk of the Low Income Tax Offset, marginal tax rates changing, and then completely abolishing one of marginal tax rates over a 7 year plan, the only number most can…
The winners and losers of the Federal Budget
Older Australians, First Home Buyers and Small Business are the clear winners from the Federal Budget, but the list of losers is long. Treasurer Scott Morrison’s second budget may have been short and sweet but the bottom line is, taxpayers may all be paying more going forward. If you didn’t get a chance to watch…
$500,000 lifetime superannuation cap scrapped
The Government has today announced improvements to the superannuation changes announced in the 2016-17 Budget that make Australia’s superannuation system even fairer, more flexible and more sustainable. Following extensive consultation, the Government will amend the package to improve the measures that seek to restrict superannuation being used as an estate planning vehicle, while providing greater…
Federal Budget 2015 Summary
After criticism that his first budget was too tough and unfair, Treasurer Joe Hockey has used his second budget to restore the confidence of ordinary Australians and shift the focus to jobs, growth and opportunity. Gone is the talk of a budget emergency. Instead, the Coalition government has unveiled nearly $10 billion in spending initiatives…
Federal Budget Update & Speech
Tonight, Wayne Swan handed down the 2013-14 Federal Budget with the expected headline that the Government is predicting an $18 billion deficit in 2013-14. The Government predicts a return to a balanced Budget in 2015-16 and a Budget surplus in 2016-17. The key focus of this Budget was implementing the Government’s well-publicised education funding and…