We are pleased to introduce our 1st Client Information Newsletter – this edition focuses on the 2012/13 Federal Government Budget. 

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The Federal Budget handed down on Tuesday evening of May 8 contained a lot of 'give' and also a lot of 'take', and depending on your circumstances these may not appear to have been exercised with equality.

While families may welcome an increase in Family Tax Benefits, this comes with further limitations in that age 18 will see benefits cease. Similarly, the bonus for school age children comes at the cost of the Education Tax Refund.

For businesses, we see a similar giving with one hand while taking with the other. The welcome 'loss carry-back' initiative will assist many smaller enterprises with their cash flows, but the loss of a 1% tax cut also has to be considered. And limiting the loss carry-back to incorporated companies (it's not available to sole traders, partnerships or trusts) severely limits its benefits - the statistics tell us that only a third of all small businesses are structured as companies.

Our intention with our newsletter is to provide you with helpful, topical information concerning accounting and tax news that may impact you, your business and/or superannuation.

We will also highlight current happenings at G J Barnett and Associates, including services of interest along with tips and suggestions that will enhance the service we provide you. 

We intend to publish the Client Information Newsletter on a monthly basis. 

We want this newsletter to be a resource for you. To help ensure our success, I encourage you to submit any comments or suggestions to info@gjbarnett.com.au

As always, we appreciate your business and the confidence you have in our company. 

Please feel free to contact us should you have any queries.

Disclaimer: All information provided in this newsletter is of a general nature only and is not personal financial or investment advice. Also, changes in legislation may occur frequently. We recommend that our formal advice be obtained before acting on the basis of this information.