On Tuesday night the Turnbull Government announced their first budget which included a range of tax measures and incentives affecting many of our individual and business clients. The Treasurer said the Budget is designed to do three things:
- To grow the economy and to support growth in jobs;
- To ensure the tax system is better targeted so it can support investment that drives jobs and growth; and
- To ensure that “we continue on our strong path to Budget balance by keeping our expenditure under control, by living within our means”.
From a taxation point of view, the Budget contained some significant changes for individuals and businesses. Our professional body, IOOF, has put together a summary of the Budget which is available for you to view by clicking on the image below.
We encourage you to call our office to get advice on any of the topic matters covered in the 2016 Federal Budget. We would love to hear from you, and have a network of resources available to assist. Please contact Gary Jones on 0407 047 917 or Stephen Wait on 0438 227 811. Alternatively click here to have one of our team members contact you to discuss your circumstances.
Remember, please share this email with your friends and family as the announced Budget will also have an affect on them.