Homebuyer benefits

Benefits for homebuyers and seniors in 2017-2018 Budget

There are no changes to personal income tax rates and thresholds in the 2017-2018 Budget, and there will be relief from the 2% Budget deficit levy, as anticipated, from 30 June 2017. On the other hand, the Medicare levy will be increased to 2.5% from 1 July 2019. There were changes for people repaying HELP debts for higher education, and the unexpected token of a small, one-off payment to pensioners.

Perhaps the most significant initiatives contained in the Budget are the housing affordability measures, a comprehensive approach which includes assisting first home buyers to build a deposit inside superannuation and allowing older Australians to contribute downsizing proceeds into superannuation.

Here is an outline of changes in the 2017-2018 as relevant to individuals:

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Property investment advice Melbourne

Budget 2017 changes for SMSF and property investors

There were no major superannuation measures in the May 2017 Budget, with slated super reforms commencing 1 July 2017. However, there are now changes to depreciation and deductibility which many residential property investors, including SMSFs with residential property investment portfolios, will need to take into account. There is also encouragement for people over 65 to downsize their own homes to make a non-concessional super contribution from proceeds, the general idea being to help free up the stock of larger homes held by empty-nesters for more effective usage.

If you’re involved in property investment and superannuation decision-making and administration, here are the key points to consider:

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Changes small business 2017-2018

Some good news for small business in Federal Budget 2017

The Federal Budget announced on 9 May 2017 delivered no sweeping changes to the small business landscape, and increased compliance is something that most business owners have become used to. However, there was some good news for business owners wanting to continue investing in assets to improve business productivity, profitability, and capacity for innovation.

Here we explain Budget highlights as relevant to small business owners:

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