{"id":2246,"date":"2016-05-06T00:11:34","date_gmt":"2016-05-06T00:11:34","guid":{"rendered":"https:\/\/cstau.wpengine.com\/?p=2246"},"modified":"2026-04-13T07:05:47","modified_gmt":"2026-04-13T07:05:47","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":"\n<p>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\n\n\n<p>In summary, the Budget focuses on the following areas:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A Ten Year Enterprise Tax Plan which aims to make Australian corporate tax more competitive in the global market;<\/li>\n\n\n\n<li>Incentives for early stage investors as part of the National Innovation and Science Agenda;<\/li>\n\n\n\n<li>A strategy for tackling the MNCs profit shifting;<\/li>\n\n\n\n<li>Substantial changes to superannuation; and<\/li>\n\n\n\n<li>Creation of a taskforce focused on tax compliance and avoidance.<\/li>\n<\/ul>\n\n\n\n<p>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\n\n\n<p>Click <a href=\"https:\/\/archive.budget.gov.au\/2016-17\/\" type=\"link\" id=\"https:\/\/archive.budget.gov.au\/2016-17\/\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a> to read the highlights.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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: From a deficit perspective, the [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":8255,"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":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Australian Federal Budget 2016<\/title>\n<meta name=\"description\" content=\"Get in-depth insights and updates on Australian Federal Budget 2016 breakdowns, major announcements, and what the financial decisions mean for Australians.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta 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