2014 Australian Federal Budget – important changes that affect your finances

Temporary Budget Repair Levy There was a lot of speculation before the budget was announced about the Government’s plan to have a short term levy to help fund some of the budget deficit. The levy has been announced as a 2% charge on taxable income over $180,000. While this will only affect a minority of Australians, it could affect some people who sell investment properties and have a once off significant capital gain and assessable income.

property, retirement, SMSFSeptember Design Studio23 May 2014federalbudgets, tax changes