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2016 Budget highlights 

3/5/2016

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We are pleased to provide you with our latest Economic Insights report on Australia's Budget 2016/17, produced by Craig James, CommSec Chief Economist and Savanth Sabastian, CommSec Economist.

At a glance.....
  • Budget deficit of $37.1 billion forecast for 2016/17
  • Small business tax rate will be lowered to 27.5%
  • Small business threshold increased from $2 million to $10 million
  • Middle income tax bracket to rise from $80,000 to $87,000
  • Further crackdown on multinational tax avoidance
  • Changes to concessional superannuation
  • Tobacco tax to raise $4.7 billion over the next four years
  • Inland Melbourne-Brisbane rail link
  • $50 billion spending on infrastructure
  • Youth jobs PaTH scheme
  • 10% GST levy on online purchases below $1000
  • $2.9 billion more for public hospital services

If you would like more detailed information on the budget then please contact drop us a line or give us a call
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