Government delivers surplus election friendly 2019-20 Federal Budget – Leaves superannuation largely untouched
April 3, 2019
Market Update – April 2019
April 15, 2019

Budget reply – Labor’s key policy changes if elected

Budget reply – Labor’s key policy changes if elected

There has been some speculation that last night’s speech by opposition leader Bill Shorten was the most keenly observed Budget reply speech in history. With the federal election just weeks away and the Labor party having been so vocal about it’s proposed policies, we have summarised the key changes that are likely to impact you. These include:

  • Reduction in capital gains tax discount to 25%
  • Limiting of negative gearing
  • Taxation of discretionary trust distributions at 30%
  • Limiting of deductions for accounting fees to $3,000 pa
  • Removal of cash refunds for excess imputation credits
  • Reduction in non-concessional contribution limit to $75,000 pa
  • Reduction in threshold for additional tax on concessional super contributions to $200,000 pa

Click play below to watch a short video outlining further details.