Federal Budget 2015 Movers & Shakers
Even with its outcomes affecting millions of people – from working and expectant parents, the sick and terminally ill, backpackers and foreign investors, to hospitals and public servants – let’s face it, this year’s Federal Budget hasn’t produced any serious tax reform fireworks. In saying that, there have been a few movers and shakers for both personal and business, but this year I think the biggest winners were all for commercial enterprises.
So, for those of you with enough time (and patience) to sift through it all, you can download the 2015 Federal Budget to see the full extent of the changes at hand.
Everybody else, check out who I feel the biggest winners were from this year’s budget in my simple recap below. Afterwards, be sure you give me a call on 1300 135 918 for a quick chat to see how these changes may affect you, your business, and your bank account balance.
#1. Small Business, Unlimited Tax Deductions
With a substantial bundle of savings and concessions totalling around $5.5 billion – including an jaw dropping allowance for unlimited tax deductions for items under $20k – small businesses are clearly the biggest winners with this year’s budget. If you don’t know how these tax breaks will (seriously) help your business’s bottom line, it’s time to give me or one of my team members a call today. Depending on your situation, you could save upwards of $4,000!
#2. Rural Business, Drought Assistance
Antarctica aside, we’re sitting on the driest continent on the planet – so the Aussie government has decided to provide $300 million in drought assistance for those farmers desperately in need, as well give them tax deductions for water facility investments and to install new fencing. When times are tough, these sort of breaks can make all the difference!
#3. Top End Business, Infrastructure Funding
Somewhat neglected until now, Australia’s ready to turbocharge its top end by pumping cash towards improving business relations with neighbouring countries like Papua New Guinea and Indonesia; tipping in $100 million to improve its cattle industry transport links; and provide up to $5 billion in low-cost loans to help private enterprises with major electricity, pipeline, port and rail line projects. That’s serious money with serious opportunity!
Where to from here?
Clearly, there’s significantly more to the 2015 Federal Budget, with its influence filtering down through all ages and worker types. So, even if you’re not in business yourself, there have been some significant negative changes with parental subsidies and entitlements that need to be understood. Remember, me and my team are here to help, so hit the ‘reply’ button or call 1300 135 918 with any questions about the report, so we can explain everything in easy to understand terms.
But to me, it seems this year’s report shows the Australian government really honing in on new business growth and opportunity; which means – if you’re in business – now could be the time for you to review, plan, budget and thrive!
Don’t miss this potential window of opportunity, it’s vital to understand how these budget outcomes can (and will) affect you and your business – and that’s what I’m here for – to help you manoeuvre through change and make them work for you. So whether we organize a strategy session, business mentoring, or company structure review – give me a call on 1300 135 918 so we can talk through the best options for your situation.
What’s more, if you’re thinking of starting a business now, by having a quick chat with me, I can help ensure you take all the right steps for the best chances of success. Don’t be shy, let’s line up a time to talk! Simply reply to this email or ring 1300 135 918 today.