2019 June Review

As the end of the 2019 financial year approaches, it is important to review your financial and taxation positions so decisions are made that ensure the best outcomes for you and your entities. You may also be required to satisfy certain legal obligations prior to the end of financial year.

Your financial situation should be reviewed to ensure you have the best possible investment strategies, taxation planning and asset protection for the future. The preparation of these plans will assist in minimising your taxation liabilities and ensure compliance with relevant taxation legislation.

2019-20 Budget highlights included:

• Personal Tax Cuts – $19.5bn package of personal income tax cuts
• Small Business – Instant asset write-off increased to $30k and expanded to businesses under $50m
• Massive ATO funding boost – Specialist tax advisers the focus of $1bn ATO task force funding
• Infrastructure – $100bn in infrastructure projects across all States and Territories

We have summarised and condensed information from the Budget in our Report.

2018/2019 year updates

• Individuals
• Self Managed Superannuation Funds
• Trusts
• Companies
• Partnerships