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5 May 2016

Federal Budget 2016 - What you need to know

The Federal Treasurer, Scott Morrison handed down his first budget at 7.30pm on Tuesday 3 May 2016.

The Treasurer's budget speech continued the government's mantra that the government must 'live within its means'.

Read the Bentleys commentary on key tax and superannuation measures.

Our team of Bentleys' tax experts from around Australia have reviewed the budget in detail. 

Many of the budget announcements were not surprising given the amount of pre-budget announcements and leaking of information leading up to the budget release.  However, the extent of changes to superannuation were greater than anticipated and caught many by surprise.

Overall, business will welcome the reduction in the company tax rate although there is a lengthy phase in period, particularly for large business.  The wide ranging changes to superannuation concessions will also cause some uncertainty for investors.

McLean Delmo Bentleys are hosting a Breakfast Briefing on Thursday 12 May on the Federal Budget announced changes and what they mean for SMEs. You can register to attend, or email Louise Hutchings, or call (03) 9018 4666