On 12 May 2015, the Treasurer Mr Hockey handed down the 2015-16 Federal Budget. The Budget Papers predict a deficit of $35bn next year, down to a $6.9bn deficit in another 3 years’ time in 2018-19.
From a taxation point of view, the Budget contained some important changes relevant to our clients in the area of small business and residency. Other reforms included well publicized changes in relation to taxation of multinationals.
Click here to read the highlights.