Create the life you want
By Perpertual Investments. Last night the Turnbull government handed down the 2016 Federal Budget. It announced immediate tax cuts for small business, plans for a lower corporate tax rate in the long term and significant changes to superannuation.
In our annual review of the Federal Budget we have analysed several measures we think will impact our clients most, including:
SUPERANNUATION
Changes to superannuation were widespread including the introduction of a lifetime contribution cap, tighter tax concessions and changes to ‘transition to retirement’ rules. Read More…
SMALL BUSINESS
A 10 year plan to reduce the small business rate from 28.5% to 25% as well as a change in the definition of ‘small business’ were among changes aimed at supporting the small business sector. Read More…
TAX
Changes to personal income tax include a $7,000 increase to the middle tax bracket threshold and tax offset improvements to low income spouses. Read More…
To find out how these and other budget measures could affect you, READ OUR BUDGET ANALYSIS.
To find out how Perpetual Investments can help you make highly tax-effective financial decisions please contact me on the number below or call Adviser Services on 1800 062 725 or read this ‘end-of-year planning’ article.
