Australia: Tax provisions in federal budget 2016 | KPMG | GLOBAL

Australia: Tax provisions in federal budget 2016

Australia: Tax provisions in federal budget 2016

Australia’s federal budget for 2016 was presented today, 3 May 2016. Among the tax provisions are measures for:


Related content

  • A proposed reduction in the corporate tax rate to 25%, to be phased in over an 11-year period
  • New anti-avoidance measure, anti-hybrid rules, and a new transparency regime 
  • Changes to the individual (personal) tax bracket rule, to address “bracket creep” for certain individuals
  • Changes to superannuation measures, to allow those persons with “broken” work records to make top-up payments
  • Continuation of the research and development (R&D) tax incentive


Read a May 2016 report prepared by the KPMG member firm in Australia


Read more about the federal budget 2016 in a series of May 2016 reports prepared by the KPMG member firm in Australia

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Request for proposal