The 2020 Budget is all about jobs, jobs and spending to make more jobs. We already have JobSeeker and JobKeeper, and now we have JobMaker and JobTrainer.
In the wake of this month’s Federal Election, our combined focus needs to be on how you can save tax before 30 June 2019! Here are 2 key areas that will affect you in the short term.
Read why this year’s Federal Budget is an ‘election budget’ with future tax cuts for all Australians, especially low and middle income earners. Overall, there were minimal changes to super proposed in the Budget, with minor changes to super contributions for older Australians.
7 Tax and Super changes you need to know about It’s now one week after the Budget was released and, in hindsight, there were very few changes that affect most Australians. Apart from the promised phased personal income tax cuts and the “overhaul” of the… Read More >>
The team at OBT are here to help you make smart financial decisions now so you can have a bright financial future. One way we do that is through careful tax planning! If you haven’t met with us yet, now is the time to contact… Read More >>
The $20,000 tax break for small and medium business has been popular, but it’s not guaranteed to survive the next Budget – so best get in now. In 2015 the federal government announced that it would put a $20,000 immediate tax deduction in place for… Read More >>
In November 2016, the Federal Government passed into law super reforms that were first announced in May 2016’s Federal Budget. Importantly, these changes include reductions in the amount that can be contributed to superannuation, as outlined below: A lower pre-tax (concessional) contributions cap which includes… Read More >>
This was not your typical Budget! Instead, the Treasurer, Scott Morrison, attempted to build an election platform for the Government and overall, this Budget is quite fair to most people. While there were certainly some major alterations to superannuation, in other areas, such as Centrelink,… Read More >>
What does it mean for you? Following the Federal Budget announcement, the Government has now passed law to give effect to changes to Centrelink’s asset tests. From 1 January 2017 onwards, there will be changes to the assets test for the age pension and this… Read More >>
The 2015/16 Budget introduced a number of generous concessions for small businesses, with tax relief being the single most significant business benefit item in this Budget. We look at the specific concessions relevant to each business category.