This year's federal budget in many ways lived up to its hype. It was mostly a dull and boring affair - but there were some surprises.
Small business owners have plenty to smile about. The 1.5% tax rate cut has been confirmed, but it's also been extended to unincorporated small businesses to the tune of 5%. They'll also get an immediate deduction for all individual assets they have costing less than $20,000.
Employee Share Scheme rules have been simplified, as have car expense claim deductions. But pension thresholds have been extended and part pension taper rates tightened.
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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.