For the first time in my life, I watched the budget reply speech in May. The problem is, both Government and Opposition budget proposals are now purely election promises. With the Election called for 2nd July, the Federal Government has moved into Caretaker mode.
The Budget was delivered last night and there is a mix of good and bad news for our clients and prospective clients at Paris Financial. I will try and zero in on the key points and give some comment. The very large caveat here is that all this budget information is NOT law yet but everyone should be moving and starting to think about the consequences of these changes.
Click here to watch a short 3 minute video detailing the Federal Government proposed changes to tax and superannuation in the Budget delivered last night, 3rd of May 2016.
For further detail, we have also attached our written summary of the proposed changes as a downloadable pdf file.