On Tuesday night, the Government delivered the 2015-16 Federal Budget. As expected, the Budget was relatively nonthreatening to most with an emphasis on growing jobs and supporting small businesses ($5.5 billion package), a families support package with focus on child care ($4.4 billion package), ensuring fair tax and social security settings, and over the medium-term, establishing a path back to a balanced Budget.
The superannuation system was barely mentioned in the Budget Papers with the Government sticking to its pledge for "no unexpected, detrimental changes" to the superannuation system in its first term of Government. All eyes will be on the Government's response to the Financial System Inquiry final report and its tax white paper process for larger expected changes to superannuation, including the Government's suggested changes to limited recourse borrowing arrangements.
We provide for you a summary of the key measures announced in the budget affecting small businesses, individuals, retiree's and families:
You can read the articles by selecting them from the menu at your left or click on the links in the text above.
Our aim is to make better use of your time and keep you updated on matters affecting your business and family life. If you have any questions from any of the articles please contact your Manager or Partner at Goodwin Chivas & Co.
The Goodwin Chivas & Co. team