May 15, 2015 admin

Federal Budget Update ’15

It’s no news that the 2015 Federal Budget was delivered yesterday – Compared to prior years, the 2015 Federal Budget was comparatively light on in its content.

Many of the announcements made on 12 May 2015 had been announced in some detail in the lead up to the Budget, and there really weren’t any hidden surprises. The Government has again promised that “there will be no new taxes on superannuation under this Government, and certainly there were no changes announced on Budget night. This should provide you with a level of comfort that the superannuation system will have a degree of stability for the next couple of years. In fact, the only superannuation announcement of note was a positive move to allow those suffering a terminal illness to access their superannuation savings earlier.

In many previous Budgets, it has been possible to group the announcements into three broad categories – taxation, superannuation and social security. This year’s Budget however provided a change, with the key categories of change being for small businesses, families and pensioners. For small businesses, there were a number of tax concessions

To give you more insight into the announced measures and when they might take effect, we have created a Federal Budget Overview.

If you would like to find out more about how this might relate to your personal circumstances, please do not hesitate to contact us via email 
at info@ofm.com.au or by calling us on 1300 761 669.

Discover how the inner circle can help you. Contact us today for a financial consultation.

This information is of a general nature only and has been provided without taking account of your objectives, financial situation or needs.
Because of this, you should consider whether the information is appropriate in light of your particular objectives, financial situation and needs.
Odyssey Financial Management is an authorised representative of Total Financial Solutions Australia Limited.