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