A budget focused on addressing housing affordability but with some other important announcements.
With the volume of reform relating to superannuation and tax concessions for Small Business Entities announced in last year’s Federal Budget, this year’s Federal Budget has instead predominantly focused on housing affordability in Australia together with various integrity measures to ensure the revenue base of the Government is preserved.
As important as the changes announced in the Federal Budget, is those reforms mooted in the media that were not raised in the Federal Budget. In particular, no real changes relating to negative gearing, no reduction in the Capital Gains Tax discount rates and no introduction of a standard deduction for work related expenses.
Some of the key reforms that were announced in the Federal Budget that will impact on our clients include:
- Measures impacting individuals
- Measures impacting Small Businesses
- Housing affordability measures
To view the article review in full, click here.
If you have any further questions relating to any of the above measures, please do not hesitate to contact Tim Olynyk on 03 9810 0700.