28 May 2015
Primary producers can now claim accelerated depreciation on capital expenditure on water facilities, fodder storage assets and fencing incurred since the 2015 Budget was handed down at 7:30pm on 12 May.
In his budget speech, Federal Treasurer Joe Hockey announced these measures with a start date of 1 July 2016, however yesterday issued a media release bringing forward these changes to begin from 7:30pm on 12 May 2015.
13 May 2015
Federal Treasurer, Joe Hockey, last night delivered the Coalition Government’s second budget and in contrast to the last budget there are actually a few surprises this year. From a taxation point of view, the budget contained some significant changes, although ‘big ticket’ tax reform measures remain for consideration in the Tax Reform Discussion Paper.
The 2015-16 budget focuses on encouraging growth in small business, and the service sector, and supporting families with incentives for the second income earner. The budget is also a win for primary producers with tax breaks for farmers and additional funding in loan schemes.
1 May 2015
Life in your 50s is great. You don’t have a huge mortgage, the kids have grown up and are not as dependent on you, your career has progressed… So what is next financially?
When you are in your 50s, you can see retirement on the horizon. Sure it might be 10-20 years off, but it is becoming more tangible. So if you haven’t already, you need to start some serious planning.