From the category archives:

Budget 2009-10

Business Plus+ 2009/10 Budget Special

June 6, 2009

The 2009/10 Federal Budget special edition of our Business Plus+ newsletter is now available for download.
Inside this issue:
- Federal Budget 2009 Issues for SMEs
- Key 2009 Federal Budget Outcomes
- Key Numbers at a Glance
- Budget Initiatives Appealing to SMEs
- Superannuation
- Possible Benefits to SMEs
- Changes to Tax Treatment
- Personal Issues
- Research and Future Projects
 
Download Business Plus+ Special [...]

Help us to better serve you. What do you think of this post?
Great - more of this! (0) Interesting (0) Useful (0) Okay (0) Boring - less of this! (0)
Read the full article →

Budget 2009-10: Assistance for Self-Funded Retirees

May 21, 2009

From 1 July 2009, the Government will halve the minimum amounts self-funded retirees have to draw down from their account-based pensions for 2009-10.
This extends the drawdown relief provided by the Government for 2008-09, recognising the impact of the global recession
This change will assist pension account balances to recover from capital losses associated with the global [...]

Help us to better serve you. What do you think of this post?
Great - more of this! (0) Interesting (0) Useful (0) Okay (0) Boring - less of this! (0)
Read the full article →

Budget 2009-10: Training Supplement for Newstart Recipients

May 18, 2009

The  Government will introduce a temporary Training Supplement for Newstart and Parenting Payment recipients to encourage those Australians vulnerable to long term unemployment to undertake training.
The Training Supplement of $41.60 per fortnight will be available to people receiving Newstart and Parenting Payment.
The Training Supplement will be available to people without Year 12 or equivalent qualification, [...]

Help us to better serve you. What do you think of this post?
Great - more of this! (0) Interesting (0) Useful (0) Okay (0) Boring - less of this! (0)
Read the full article →

Budget 2009-10: Pension Age Going Up

May 18, 2009

As part of the Government’s Secure and Sustainable Pension Reform, in 2017 the qualifying age for the Age Pension will gradually increase from 65 to 67 by 2023.
As Australians are healthier and living longer, the qualifying age for Age Pension for men and women will be increased by six months every two years, commencing from [...]

Help us to better serve you. What do you think of this post?
Great - more of this! (0) Interesting (0) Useful (0) Okay (0) Boring - less of this! (0)
Read the full article →

Budget 2009-10: Simpler rules for separated families

May 15, 2009

Most Budget reporting tends to focus on the money side of things (tax rates, bonus payments). The Budget is also a time when various initiatives, programs and other administrative changes are introduced or altered in some way. For instance, rules about the care of children of separated parents will be more consistent following changes made in the 2009-10 [...]

Help us to better serve you. What do you think of this post?
Great - more of this! (0) Interesting (0) Useful (0) Okay (0) Boring - less of this! (0)
Read the full article →

The Budget and Your Business

May 14, 2009

The release of the 2009-10 Federal Budget Tueday night revealed funding for new and existing products and services to assist businesses. Some of the initiatives included in this year’s budget are listed below.
New programs and initiatives
- A Small Business Support Line will be established to help businesses manage better during the global financial downturn.
- A Small [...]

Help us to better serve you. What do you think of this post?
Great - more of this! (0) Interesting (0) Useful (0) Okay (0) Boring - less of this! (0)
Read the full article →

Budget 2009-10: Small Business Tax Break Boost

May 14, 2009

I was excited about the Small Business and General Business Tax Break when it was at 30% so I’m thrilled it’s been increased and extended until the end of the year.
Small businesses will now be able to claim a bonus tax deduction of 50 per cent – up from the previous 30 per cent -  ­ [...]

Help us to better serve you. What do you think of this post?
Great - more of this! (0) Interesting (0) Useful (0) Okay (0) Boring - less of this! (0)
Read the full article →

Budget 2009-10: R&D Tax Credit

May 14, 2009

From 2010-11, the Government will replace the current R&D Tax Concession with a simplified R&D Tax Credit. I haven’t really looked closely at this one yet but it promises to cut red tape and provide a better incentive for business to invest in research and innovation.
The new Tax Credit provides a 45 per cent refundable credit for [...]

Help us to better serve you. What do you think of this post?
Great - more of this! (0) Interesting (0) Useful (0) Okay (0) Boring - less of this! (0)
Read the full article →

Budget 2009-10: FTB income thresholds on hold

May 14, 2009

Upper income thresholds for family payments will be paused at current levels for three years until July 2012. 
From 1 July 2009 for a period of three years:

the Family Tax Benefit Part B primary earner income threshold will remain at $150,000;
the income threshold for receiving dependency tax offsets will remain at $150,000;
the Baby Bonus eligibility threshold [...]

Help us to better serve you. What do you think of this post?
Great - more of this! (0) Interesting (0) Useful (0) Okay (0) Boring - less of this! (0)
Read the full article →

Budget 2009-10: Private Health Insurance Tiers

May 13, 2009

It’s carrots and sticks now when it comes to private health insurance. Higher income earners will receive less Government payments for their private health insurance, but will face an increase in costs should they opt-out of their health cover.
From 1 July 2010, the Government will introduce three new ‘Private Health Insurance Tiers’ :

Tier 1: for [...]

Help us to better serve you. What do you think of this post?
Great - more of this! (0) Interesting (0) Useful (0) Okay (0) Boring - less of this! (0)
Read the full article →

Budget 2009-10: First Home Owner’s Boost Extended

May 13, 2009

The Government announced it will extend the First Home Owner’s Boost (FHOB) for an extra six months. However, in order to phase out the measure, the FHOB will be reduced by half for the last three months of the extension period.
For eligible first home buyers entering into contracts between 1 July 2009 and 30 September 2009 [...]

Help us to better serve you. What do you think of this post?
Great - more of this! (0) Interesting (0) Useful (0) Okay (0) Boring - less of this! (0)
Read the full article →

Budget 2009-10: Super Concessional Contribution Caps Halved

May 13, 2009

From 1 July 2009,the annual cap on concessional superannuation contributions will be reduced from $50,000 to $25,000. The transitional cap (which applies until 30 June 2012 for those aged 50 years and over) will change from $100,000 to $50,000.
Less than 2 per cent of people who make concessional contributions are expected to be affected by this [...]

Help us to better serve you. What do you think of this post?
Great - more of this! (0) Interesting (0) Useful (0) Okay (0) Boring - less of this! (0)
Read the full article →

Budget 2009-10: Super Co-Contribution Reduction

May 12, 2009

Along with other superannuation reforms, the Government will also temporarily reduce the superannuation co-contribution matching rate.
The generous 150% will be reduced to 100% per cent for contributions made in 2009-10, 2010-11, and 2011-12. A maximum co-contribution of $1,000 will apply (down from $1,500).
The matching rate will rise to 125% cent for contributions made in 2012-13 and 2013-14 [...]

Help us to better serve you. What do you think of this post?
Great - more of this! (0) Interesting (0) Useful (0) Okay (0) Boring - less of this! (0)
Read the full article →

Budget 2009-10: $600 Carer Supplement

May 12, 2009
Thumbnail image for Budget 2009-10: $600 Carer Supplement

Carer Payment recipients will receive the pension increases announced in the pension reform package, including an additional $32.49 a week for singles on the full rate.
In addition, the Government will introduce a permanent Carer Supplement of $600 per annum for Carer Payment recipients and an additional $600 per annum for Carer Allowance recipients for each [...]

Help us to better serve you. What do you think of this post?
Great - more of this! (0) Interesting (0) Useful (0) Okay (0) Boring - less of this! (0)
Read the full article →

Budget 2009-10: What’s new for Pensioners

May 12, 2009

Pensioners who receive the Age Pension, Disability Support Pension, Carer Payment, Veterans’ Service Pension, Income Support Supplement, War Widow/ers Pension, Bereavement Allowance, Wife Pension, and Widow B Pension will receive an increase to pension payments.
The Government will provide an additional $1,689 a year to full rate single pensioners and $527 a year to full rate [...]

Help us to better serve you. What do you think of this post?
Great - more of this! (0) Interesting (0) Useful (0) Okay (0) Boring - less of this! (0)
Read the full article →

← Previous Entries