Budget 2013/14: Is it ‘Stronger, Smarter & Fairer’?

Posted on by Mark Fernandez

 
Our guest columnist, Kirstin Stewart, Director of Business Services for HLB Mann Judd, gives her view on how the Federal Budget will effect you over the next 12 months.

Treasurer Wayne Swan announced the Labor Government’s Federal Budget for 2013/14 last night.  But is this budget ‘stronger, smarter and fairer’ like it claims to be?  As always, it will depend on what camp you’re in.  The budget estimates a cash deficit of $18billion for the 2013/14 year, and estimated to ‘return to balance’ in 2015/16.  Whilst one side of the budget focuses on where the nation’s funds will be spent – the winners being DisabilityCare Australia (formerly known as the National Disability Insurance Scheme), infrastructure and education; on the other side is the question of how these proposals will be funded?  The answer is change to superannuation, business and personal taxation.   In an election year, there is some doubt that the proposals put forth in the budget will take effect if the Liberal Party win the election in September. 

So how will this affect you from a taxation perspective? 

Business Taxation

Superannuation

Personal Taxation

For further information please contact Kirstin Stewart.

This entry was posted in Uncategorized. Bookmark the permalink.

Recent Posts

Categories

Newsletter Subscription

Click here to subscribe