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June 2015 Newsletter
The SA State Budget was released mid-June. Finally, a Budget with some courageous tax reform measures that will yield genuine relief to business. Plus we remind you of a couple of things that might be worth looking at before the end of the financial year.
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2015-16 Federal Budget
In recent years one of the least surprising days of the year has been Budget night, from a business and tax perspective at least. It's pretty much standard practice now that the most significant Budget measures are either announced as separate packages, or otherwise 'leaked' prior to the Budget announcement, presumably to manage expectations and test the waters a little. This year is no exception.
The Federal Treasurer Joe Hockey handed down his second Budget last night, however his Budget speech was a relative formality as most of the significant measures had already been announced. The predicted deficit for the upcoming year has grown to $35 billion, reducing to $6.9 billion by 2018-19.
In an attempt to stimulate economic activity, and by extension tax revenue, the big winners are small business owners. While there are always some 'losers' in any Federal Budget, these are relatively few when compared with last year's public relations disaster - no doubt an effort by the Government to put the past well and truly behind it with an election looming next year.
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April 2015 Newsletter
The Tax Office has announced some of this year's target areas for audit activity, all wrapped up in a more accessible, less confrontational title. We also remind employers and super fund trustees that SuperStream is coming, and look ahead to what the Government may have in mind for the generous tax concessions extended to super funds.
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