Budget Whispers

  • 19 Feb 2016
  • Comments 0
Budget Whispers
Further to the constant media coverage in regards to the many rumoured Budget Whispers, our very own Head of Strategic Advice Mark Serry has put his pen to paper to discuss the potential changes and his comments on the likely outcomes.
While you are unlikely to draw a crowd at a hip night spot with talk of tax reform, in the papers and the world of retirees or those looking to retire, confusion reigns and the rumour mills are running hot.
At this stage, all we know is that GST is not going to be increased.
While Labour has been quite specific with regards to their policy proposals, as in the last decade they do seem to like to do policy on the run, the Coalition have not given anything away at this stage.
However, the impression from both parties seems to clearly indicate the areas they are targeting.
These are:
- Superannuation (especially those nasty rich people); - Negative gearing; and - Those multinationals (as the public loves that).
As sadly is so often the case in our beloved country, the debate is clouded with populist rhetoric and completely misleading statistics.
I met my wife when I was in my early 20’s and after we finished University, we were free-spirited backpackers working our way around the globe. Unknown to us, only 20 odd years later, we would be having spirited discussions about our disapproval of government policy – with myself focusing on superannuation and the economic impact of policy and my wife, as she is the Director of the Corporate Tax Association, defending the majority of well-behaved corporates who actually need a tax cut to remain internationally competitive.
Is this attack on us personally?
While I will leave the corporate perspective to my lovely wife, we know you are reading all of this as it is all over the press. We therefore felt you might appreciate a rundown of what we have been hearing and our thoughts on the subject.
Please click here for an in-depth review of his thoughts on the potential changes.
Should you wish to speak to an Intralink Adviser in regards to the attached, please don’t hesitate to call the office on 03 9629 1100.