2015 Federal Budget Overview
The Federal Budget has been released for 2015. Some have declared that this is the best budget in seven years!
The budget effects both individuals and small businesses thus why we have created a video which encapsulates the 7 announcements including recommendations to enable you to take advantage of the updates.
(1) Changes to assets thresholds for the age pension
(2) Motor Vehicle Claim standardised to 66c/km regardless of engine capacity and removal of 12% or original value and 1/3 actual expense method
(3) Capital gain tax Rollover relief to allow small business to make changes to the legal structure
(4) Any individual asset < $20,000 is immediately deducted
(5) Incorporated Entities’ Company Tax Rate decrease from 30% to 28.5% and tax discount of 5% on business income for unincorporated entities.
(6) Employee Share Scheme to have taxing point at realisation of gain
(7) The government is providing subsidies for businesses who employ specific job seekers
Does the 2015 federal budget impact you as an individual or as a business?
For a free 10 minute chat contact us on (03) 9583 0550 or click here to schedule an appointment
About Lan Nguyen
Lan is the Founder and Chief Strategist at Success Accounting Group, Melbourne based CA firm. In a matter of short 8 years she has built up a reputable Chartered accounting firm with 3 offices and a team of 6 professional accountants and support team members. Her mission is to provide Innovative and Strategic Financial advice to help her customers make smarter financial decisions today for a brighter future.
Success Accounting Group is for established business owners who would like help to grow a sustained business. As a business owner you understand what drives your business success with our accounting team taking care of the rest.
Success and Wealth
Success Accounting Group Pty Ltd
Oakleigh, VIC, 3166
