News & Articles

Budget 2019-20

The Ballot Box Budget This is a Budget not only designed to showcase the return to surplus (and by default the Government’s economic credentials) but engage voters with initiatives to make them feel like they are more prosperous. A massive infrastructure spend adds to...

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What the 2019-20 budget means for Individuals

Personal income tax cuts As anticipated, the Budget celebrated the surplus with a $19.5bn package of personal income tax cuts for Australian residents. This package revises the legislated seven year income tax plan. The personal tax changes mean a tax saving of $855...

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Businesses not forgotten in the 2019-20 Budget

Instant asset write-off increased to $30k and expanded to businesses under $50m Date of effect: 7:30pm (AEDT) on 2 April 2019 to 30 June 2020 The threshold for the popular $20,000 instant asset write-off will increase to $30,000* from Budget night until 30 June 2020...

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Changes to Superannuation in the 2019-20 budget

Superannuation ‘work test’ watered down & age limit for spouse contributions increased Date of effect: 1 July 2020 As previously announced, from 1 July 2020, Australians aged 65 and 66 will be able to make voluntary superannuation contributions (concessional and...

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Compliance has been included in the budget 2019-20

$1bn ATO ‘sugar hit’ to tackle large corporates and high net wealth individuals Date of effect: From 2019-20 The Government will provide $1bn over four years from 2019-20, including $6.5 million in capital funding, to the ATO to extend the operation of the Tax...

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