There were not too many surprises in this years Federal Budget with the Treasurer, Wayne Swan, delivering what he described as a ‘no frills responsible’ budget. There were a couple of sweeteners such as the 50% discount for interest income and a standard tax deduction for work related expenses, but many of the measures that impact on financial planning just reconfirmed the Governments response to the Henry review.
A closer look at the budget papers delivered a few unexpected blows including a permanent reduction in the maximum co-contribution and matching rate.
It appears we will have to wait longer to hear more about the Governments view on the large number of Henry review recommendations still to be addressed.
We have put together a report for you (attached).
This report, as always, focuses on the impact on financial planning strategies and how they may affect you.
Should you have any questions please contact us.
(to view our fortnight that was online - http://www.empirefp.com.au/index.asp )
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