Blog

Federal Budget 2019

This Federal Budget outlines:

Individuals:

  • Tax Relief via Increased LMITO;
  • Future changes in tax thresholds and rates;
  • Medicare levy low income threshold increased.

Business’:

  • Instant asset write off increased and expanded;
  • Contribution of pooling arrangements for other assets ;
  • ABN obligations and the black economy;
  • Luxury car tax increased refunds for primary producers and tourism operators ;
  • Delayed amendments to division 7A.

Superannuation:

  • Removal of work test for certain members;
  • Extending eligibility for bring-forward cap;
  • Increase to age limit for spouse contributions;
  • Reducing red tape for super funds;
  • Tax relief for merging super funds;
  • Super insurance opt-in rule delayed.

To view and download the PDF, please click on the link below:

Federal Budget