Federal Budget 2012 and the effects on small businesses

Posted on by Mark Fernandez

Our guest columnist John Dorazio from Walker Wayland has described the implications the new Federal budget  may have on your business.

On 8 May 2012, the Treasurer, Mr Wayne Swan handed down his fifth Federal Budget. A fiscally tight Budget designed to return the Budget to surplus, it contained anticipated tax changes, but also had a raft of other tax measures some of which may not be welcomed by businesses, nor indeed non-residents, including significant changes to the tax loss measures.

In addition the Government decided to scrap a number of the previously announced measures including the standard tax deduction and the interest discount.

We encourage you to contact your Walker Wayland advisor if you wish to discuss any aspects of the Budget further.

Individual and family taxation

Companies and finance

Capital Gains Tax (CGT)

International

Superannuation

GST

Other measures

For more information visit www.walkerwaylandwa.com.au

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