On Tuesday 9 May, the Australian Government handed down its Federal Budget for 2017. It’s important that you take the time to understand what the Budget proposals mean – and how they might affect your personally.
To help break down the key proposals we’ve included a Federal Budget overview that explains some of the key outcomes and what they mean to you, including:
- an additional non-concessional contribution cap for the eligible over 65 year olds who sell their home
- a first home owners saver scheme that allows people to use some of their super towards a home deposit
- a 0.5% increase in the Medicare levy from 1 July 2019
- reinstatement of the Pensioner Concession Card for pensioners who lost their entitlement due to recent assets test changes
- a continuation of tax offsets for small businesses
Supporting you through the changes
Depending on your circumstances, the Budget proposals could have an impact on your financial situation and your financial plants for the futures. If you have any concerns, or would like to discuss your financial strategy, please don’t hesitate to get in touch with us on 0298993828 or firstname.lastname@example.org to arrange an appointment.
This document has been prepared by Count Financial Limited ACN 19 001 974 625, AFSL 227232, (Count) a wholly-owned, non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124. ‘Count’ and Count Wealth Accountants® are trading names of Count. Count advisers are authorised representatives of Count. Count is a Professional Partner of the Financial Planning Association of Australia Limited. Information in this document is based on current regulatory requirements and laws, as at 9 May 2017, which may be subject to changes. While care has been taken inn the preparation of this document, no liability is accepted by Count, its related entities, agents and employees for any loss arising from reliance on this document. This document contains general advice. It does not take account of your individual objectives, financial situation or needs. You should consider talking to a financial adviser before making a financial decision. Taxation considerations are general and based on present taxation laws, rulings, and their interpretation any may be subject to change. You should seek independent, professional tax advice before making any decision based on this information.