Fresh off the press, Grant Wardell-Johnson, Lead Tax Partner, KPMG Economics & Tax Centre and KPMG Enterprise Tax Partner, Brett Mitchell, analyse the 2018 Federal Budget and what this means for business, both for the mid-market and the top end of town.
“This was a Budget of very few surprises. The big revenue raiser is the Black Economy projected to yield $7.6 billion over 4 years.”
“It’s great to see the government continue to lower the company tax rate and measures on personal tax will be welcome to many.”
“Changes to the mid-market are underwhelming. The mid-market has already seen most of its tax cuts; there was very little on innovation which is disappointing and surprising.”
“There was nothing in the budget which simplifies or harmonises tax and it only introduces partial measures. Complexity kills the mid-market and we need further tax reform.”
Read KPMG's detailed analysis of the key decisions and business implications of the 2018 Federal Budget.