ARTICLE · 26 MAY 2012

Australia's Budget 2012-13: Business tax changes

Greenwoods & Freehills

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The central theme of the Budget is the cancellation, limitation or deferral of some measures beneficial to taxpayers.

AustraliaTax

Recent controversies in federal politics illustrate that we live in less than biblical times. However, to paraphrase that lofty source, what a Government giveth, it may also take away. The central theme of the 2012-13 Budget is the cancellation, limitation or deferral of a range of measures that were beneficial to taxpayers, as part of the political strategy of returning the Budget to surplus.

Some of these changes reflect significant reversals of previous policies and could have significant impacts in particular on the local superannuation industry and on levels of foreign investment into Australian managed funds. These and other changes are outlined in this Tax Brief.

Business tax changes

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