The underlying economic forecasts contained in the budget do not indicate boom times ahead, and there is current excess capacity within the Australian economy which will take some time to be taken up.
Grant Wardell-Johnson, Partner, Tax shares his first impressions on the 2017 Federal Budget.
It seems from the Budget that substantial tax reform is still off the table – though the moves on the black economy are important for the integrity of the system.
The Black Economy will feature on Budget night with the purpose of raising revenue and seeking equity for business. This should lead to a stronger tax system. But there is a need to balance privacy and ensure the rules actually work.
Tax cuts, that’s what all businesses want from Government – right? Well not just tax cuts
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