Wednesday, May 9, 2018
SAWIA Industry Partners, Bentleys South Australia have provided an overview of last night’s Federal Budget – please scroll down for details and to access the link to detailed analysis.
Changes in a few areas for business and individuals.
Leading his third Federal Budget, Treasurer Scott Morrison has focussed on tax cut “affordability” and delivering a “responsible” budget that will encourage consumer spending and economic growth, without damaging the reduction of the national debt and drive to surplus. The winners in the 2018 budget are taxpayers on lower income tax brackets, older Australians and small business.
Bentleys' team of tax experts has reviewed the budget in detail. Click here to read our full report.
Briefly, some of the key budget announcements include:
In keeping with previous years, this year’s budget delivered few surprises. But the question remains – has Treasurer Scott Morrison done enough to convince the electorate that the Coalition Government should be returned to power? It is a fine balancing act for the Government as it endeavours to appease the electorate - which has not seen an increase in real wages for several years amidst rising household costs - while, at the same time, needing to maintain its position of being fiscally responsible and getting the economy back into surplus by 2019-20.
Once again the Bentleys Network partners, from all over Australia, have drawn upon their considerable tax and business advisory experience to bring you their expert views on the 2018 Federal Budget. In terms of economic policy, how does the Treasurer’s 2018 budget rate? How will your business be affected and how will you be affected personally?
We welcome your comments on Budget 2018.