Federal Budget 2016

Another Federal Budget has come and gone. While we are still waiting the politics to sort itself out, the attached summary will provide you with a good refresher of what was announced.

For small business there are some tax incentives to invest, together with a modest income tax cut for future years. My standard word of warning however, is that small business shouldn't decide to invest on tax benefits alone!

For working families on lower incomes there will be more child care support to supposedly assist with the transition back into the workforce and pensioners seem to be happy with the aged pension adjustments.

While we await the government's taxation white paper for more detailed tax reform, this budget seems to have won the support of the people. For further reading you may also access the government's own specialist 'Budget website'.

Happy reading, and should you have any questions please give us a call.


Federal Budget Tax Bulletin 2016

The government's jobs and growth budget for 2016-17 is its attempt to set a direction for the Australian economy at this transition point. It builds on the small business incentives from last year to include medium sized businesses with turnover up to $10 million. Big companies will have to wait for tax relief, although there is a path to phase in reductions in the corporate tax rate to a joint rate of 25%. Multinationals will be subject to a stringent diverted profits tax. Changes to super have been made for both high income and low income earners.



Federal Budget 2016 Summary
Click here to read more.
Liability limited by a Scheme approved under Professional Standards Legislation

DISCLAIMER: This is an initiative of, and has been prepared by the Aitken Signor Chartered Accountants and the Institute of Chartered Accountants in Australia. While every effort has been made to ensure the accuracy of the information contained therein, neither Aitken Signor, the Institute nor our employees shall be liable on any grounds whatsoever in respect of decisions or actions taken as a result of using this publication. The information provided is a general guide only and should not be used, relied on or treated as a substitute for specific professional advice or referral to the relevant specific standard.
The information in this email is confidential to the named addressee and subject to copyright. No one else may read, print, store, copy, forward or act in reliance on all or any of this email or its attachments. If you are not he intended recipient, any use, reliance upon, disclosure or copying of this email is prohibited and unlawful. If you have received this email in error please notify the sender. Aitken Signor and The Institute of Chartered Accountants in Australia do not warrant that this email and any attachments are error or virus free and recommends that all attachments be checked for computer viruses.

Contact us...

Office Location
Level 1, 12 Waters Road,
Neutral Bay NSW 2089,
Australia

Phone: (02) 8969 8660
Fax: (02) 8969 8650
Email: info@signorca.com.au

...or make an appointment

If you would like to meet with one of our team to discuss your financial needs, please feel free to book an appointment with us.

Book your appointment