We are pleased to present below all posts archived in 'May 2012'. If you still can't find what you are looking for, try using the search box.
In my work with Alan Kohler one thing can be said, the man loves a graph. But this one caught my eye, especially as a Victorian. If a picture tells 1000 words this illustrates how tough non mining states are finding it. As you can see Western Australia leads the nation in terms of employment growth, followed by Queensland in a distant second, while Victoria, New South Wales and Tasmania are all in the red.
The 2012 Federal Budget only contained few surprises as many of the measures had already been legislated or pre-announced.
The main winners were lower income earners, families and the elderly.
The key new announcements include:
• tax may increase on certain employment termination payments
• the reduction in the company tax rate isn’t going ahead
• the increase in the concessional contribution cap for people aged 50 or over with less than $500,000 in super will be postponed until 1 July 2014
• the tax payable on concessional super contributions by people earning $300,000 pa or more will increase from 15% to 30%, and
• a ‘SchoolKids Bonus’ of $820 a year for each child at high school and $410 for every child in primary school will automatically be paid to parents who are eligible for Family Tax Benefit Part A, replacing the Education Tax Refund.
The Government has also confirmed that:
• people earning under $80,000 pa will receive modest tax cuts
• the minimum income payments for a superannuation pension/income stream won’t increase until 1 July 2013, and
• funding will go ahead for the landmark changes to Australia’s Aged Care System announced recently.
Date: Wednesday 9 May 2012
Time: 11am-12pm (AEST)
Peter will also outline changes that have recently been legislated, some of which may require you to take action before 30 June. These include the:
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