Macquarie Partners Central Coast 2016 Federal Budget Update INTRODUCTION On the 3rd May 2016 the Federal Government handed down the Budget for the 2016 year that includes some of the biggest changes to superannuation since 2007. Some of the major changes include: Changes to contribution caps including...
Small business From 2015/2016 income year The Government has announced tax reductions for small businesses with an aggregated annual turnover below $2m regardless of entity type. For companies, the company tax rate will be reduced by 1.5% to 28.5%. Maximum franking credit rates for a distribution will remain...
Budget 2015: who is in the firing line? If you are a high income earner, earn income from overseas, or have a large asset base, then, if the rumours have any truth to them, you’re in the firing line in the 2015/2016 Federal Budget. The Australian economy...