2015 Federal Budget Summary

Read the Federal Budget Analysis article below and find out what the 2015 Federal Budget means for you.

The key initiatives in this year's Federal Budget are:

• Many lower income young families will benefit from greater childcare subsidies

• Families choosing not to vaccinate their children will miss out on childcare subsidies and family benefits

• Pension assets test changes will benefit lower net worth retirees, however, higher net worth retirees may receive reduced entitlements

• It will no longer be possible to claim both the full Government and employer provided parental leave payments

• The company tax rate for eligible small businesses will be reduced by 1.5%

• Unincorporated small businesses will receive a 5% tax discount

• Small businesses will be able to fully deduct capital expenses of up to $20,000 per annum

• Farmers’ capital expenditure on fencing and water facilities will be fully deductible

Download the full analysis 2015 Federal Budget (pdf)

View the 2015 Federal Budget with Peter Hogan (Senior Technical Manager, MLC)

If you’d like to discuss anything in this years Federal Budget please contact us on 03 8651 6555.