TAG Tax

Contact: ESV Chartered Accountants (Sydney, Australia)

Joe Hockey handed down his first Federal budget in what is clearly a testing time for the Government. The 2014-2015 Federal Budget contained few announcements that had not been previously foreshadowed in one form or another.

The theme of the budget was one of "ages" and moving from an "age of entitlement" to an "age of opportunity" by a sharing of the burden across all parts of society for what is promised to be a better future for all.

Whether the burden has been shared equally or appropriately and whether the opportunities will materialise and the objectives be achieved, only time will tell. In the mean time we have provided an executive summary of the key measures.

• Personal Tax
• Business Tax
• Superannuation
• Other