The low down from the 2014 Federal Budget implications for business – from what I can work out anyway!
- Company tax rate cut by 1.5% from 1 July 2015
- Company tax increase of 1.5% on top 3000 firms to fund paid parental leave
- $10,000 subsidy over 24 months for businesses who employ over 50’s
- Subsidies for businesses who employ job seekers who haven’t got a job after six months of work for the dole.
Other points to consider:
- New paid parental leave scheme
- $7 visit to the doctor, free for children under 16 AFTER the first 10 visits
- Eligibility for Family Tax Benefit Part B tightened
- 2% levy on incomes over $180,000 for three years from 2014-15
- Graduates to repay HELP debt once they reach $50,638 from 1 July, 2016
- Indexation of fuel excise from August, 2014 (petrol will go up)