Now that the 2018/19 budget has been unveiled it is plainly obvious that there will be an election soon.
We have taken a little bit of extra time to let the dust settle around some of the most relevant measures and this article we will explore their impact.
It is important to note that just because these measures have been announced it does not instantly make them law. They still need to travel through both houses of parliament and receive Royal Assent to be law. We will update you once this happens.
Summary: The changes for individuals are centered around a new tax offset and adjustments to the tax brackets. Click the buttons for more information on each measure.
This year the changes to Superannuation announced in the budget are much less controversial than previous years, the main ones impacting trustees are as follows:
Small Business Changes
Some of the notable changes affecting small business are listed below:
Other announced changes that affect multiple entities: