Thursday, April 11, 2019

Australia's Federal Budget 2019-20 | A middle market perspective

The Australian Federal Budget 2019-20 was released on 2 April 2019, detailed the Federal Government's policy plans for the year ahead.

Pitcher Partner's highlights some of the key impacts for businesses and stakeholders across Australia:

  • A 20% increase in the immediate asset write-off to $30,000 for businesses that turnover less than $50m
  • A six-year staged reduction in the marginal tax rate from 32.5% to more closely align with the corporate tax rate, which is hoped to stimulate consumer spending
  • A low-income taxpayer’s receipt of $1,080 per individual (or $2,160 for dual income families) from an increase in the low-income offset for individuals
  • Stimulation of activity in the infrastructure construction sector

A detailed analysis of the Budget and the specific impact to individuals and middle-market businesses can be found here.

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