Federal Budget 2016/17 – Small Business And Infrastructure In Front
With a Federal election expected July 2, the Federal Government last night handed down its 2016/17 budget. Small business owners were the big winners. A lift in the earning threshold from $2 million to $10 million to classify more medium busi
With a Federal election expected July 2, the Federal Government last night handed down its 2016/17 budget.
Small business owners were the big winners. A lift in the earning threshold from $2 million to $10 million to classify more medium businesses as ‘small’ was accompanied by a one percent tax cut for those businesses.
Middle-income earners were also given a modest reprieve, with the shifting of the 32.5 percent tax bracket from $80,000 to $87,000.
As for motorists and the automotive industry, there was little in the way of new initiatives.
The 2016/17 budget continued programs from the last two Federal budgets, including spending on infrastructure projects such as Sydney’s Northconnex and Westconnex motorways.
Highways