The Coalition has won the federal election, which means we will not see the light of day on the following Labor Party’s tax proposal for at least 3 years;
So what happens now?
The Coalition should be able to pass proposed bills to the house of representatives, but may have difficulty in passing the senate. Consequently, we thought it prudent to enlighten you with a brief outline of what tax changes we can expect from the Coalition Government in the near future to get you better equipped for when they become law.
The tax changes may originate from the following;
We are unsure all the above proposed by the Coalition Government will be introduced into Parliament, and even when introduced, whether they will pass both Houses of Parliament before they can become law. Either way, we trust the above tax summary equips you for when these changes become law.
If anything in this tax summary triggered your interest or you are a type of taxpayer that is likely to be affected by these possible changes, please do not hesitate to contact us.
The information contained on this website and in this article is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser. Taxation, legal and other matters referred to on this website and in this article are of a general nature only and are based on our interpretation of laws existing at the time and should not be relied upon in place of appropriate professional advice. Those laws may change from time to time.