{"id":2246,"date":"2016-05-06T00:11:34","date_gmt":"2016-05-06T00:11:34","guid":{"rendered":"https:\/\/cstau.wpengine.com\/?p=2246"},"modified":"2025-05-21T05:29:58","modified_gmt":"2025-05-21T05:29:58","slug":"australian-federal-budget-2016","status":"publish","type":"post","link":"https:\/\/csttax.com\/en-au\/blog\/australian-federal-budget-2016\/","title":{"rendered":"Australian Federal Budget 2016"},"content":{"rendered":"

The Treasurer, Scott Morrison, delivered his maiden Federal Budget speech on Tuesday 3 May 2016. With the expectation of a double dissolution election being called by the Prime Minister Malcolm Turnbull, there was great expectations about the contents of the speech.<\/p>\n

In summary, the Budget focuses on the following areas:
\n\u2022A Ten Year Enterprise Tax Plan which aims to make Australian corporate tax more competitive in the global market;
\n\u2022Incentives for early stage investors as part of the National Innovation and Science Agenda;
\n\u2022A strategy for tackling the MNCs profit shifting;
\n\u2022Substantial changes to superannuation; and
\n\u2022Creation of a taskforce focused on tax compliance and avoidance.<\/p>\n

From a deficit perspective, the Government plans to reduce the deficit from the current $39.9bn to $6bn by 2020 through a reduction in public spending, increased focus on tax compliance and provision of stimuli for jobs growth.<\/p>\n

Click here<\/a> to read the highlights.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Treasurer, Scott Morrison, delivered his maiden Federal Budget speech on Tuesday 3 May 2016. With the expectation of a double dissolution election being called by the Prime Minister Malcolm Turnbull, there was great expectations about the contents of the speech. In summary, the Budget focuses on the following areas: \u2022A Ten Year Enterprise Tax […]<\/p>\n","protected":false},"author":11,"featured_media":7865,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9],"tags":[],"class_list":["post-2246","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australian-tax-system"],"acf":[],"yoast_head":"\nAustralian Federal Budget 2016 - CST Tax Australia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Australian Federal Budget 2016 - CST Tax Australia\" \/>\n<meta property=\"og:description\" content=\"The Treasurer, Scott Morrison, delivered his maiden Federal Budget speech on Tuesday 3 May 2016. 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Having lived and worked abroad, Daniel understands what is involved when making a move overseas. Daniel\u2019s main areas of expertise include superannuation, employee share schemes, companies and family trusts.\",\"sameAs\":[\"https:\/\/csttax.com\/en-au\/about-us\/daniel-wilkie\/\"],\"url\":\"https:\/\/csttax.com\/en-au\/blog\/author\/daniel\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Australian Federal Budget 2016 - CST Tax Australia","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"en_US","og_type":"article","og_title":"Australian Federal Budget 2016 - CST Tax Australia","og_description":"The Treasurer, Scott Morrison, delivered his maiden Federal Budget speech on Tuesday 3 May 2016. 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