2016 Federal Budget

2016 Federal Budget Review 4th May 2016

This year Australians got the budget a week earlier than usual and, as expected in an election year, there were no dramatic changes to tax laws, no new taxes and generally good news for taxpayers. This year, the Treasurer, Hon Scott Morrison handed down a Federal Budget that is targeting business growth through support for innovation and tax reductions for small businesses....

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2016 Budget Changes to Superannuation 4th May 2016

From 1 July 2017 the Government proposes to introduce a $1.6 million transfer balance cap on the total amount of a taxpayer’s superannuation balances that can be transferred from their accumulation account into a pension account or into pension phase. Subsequent earnings on these pension accounts will not be restricted....

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