Last night the Federal Government handed down the Budget for the 2015-16 year. As promised, the Budget contained relatively few surprises with a number of announcements made in the previous weeks. It is important to note that the budget announcements are still only proposals at this stage.

Below is a summary of key announcements that may affect you.

Income tax changes

  • Personal income tax
  • Tax compliance
  • Small businesses


Corporate tax changes

 

Superannuation changes

  • Access to benefits
  • Family assistance
  • Social security
  • Aged care

  Social security and family assistance changes

For more information you can check out the official report here or view the video below:

 

If you’d like to discuss any of these changes may affect you or your business¬†please contact us on info@fwo.net.au or call 07 3833 3999