Budget 2019-20: The Economy
Where the money comes from Source: 2019-20 Budget: Appendix B: Revenue and spending Return to surplus The jewel in the Government’s crown is the $7.1bn budget surplus in 2019-20. The Budget sets out: $11bn surplus…
Budget 2019-20: International
The Government has been busy securing international tax and trade agreements. We note these as Australia’s role in the region, security, and export markets rely on these agreements. Australia-Israel Tax Treaty The Government signed the…
Budget 2019-20: Compliance
$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…
Budget 2019-20: Business
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…
Budget 2019-20: Superannuation
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…
Budget 2019-20: 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…
2019-20 Federal Budget Overview
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…
