Federal Budget 2017-18
Getting our house in order?
The 2017-18 Federal Budget theme is based on principles of fairness, security and opportunity. The Government’s intention was for this to be a “practical” budget, very much centred on issues affecting ordinary Australians.
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Leading Deloitte economist Chris Richardson gives us his insights on the 2017-18 Federal Budget
Deloitte Federal Budget 2017-18 analysis
The Federal Treasurer, Mr Scott Morrison, handed down his second Federal Budget at 7.30 pm (AEST) on Tuesday 9 May 2017.
The key themes included:
- A continued emphasis on jobs and growth
- Housing affordability
- Investment in infrastructure
- Growth in the regions
- Getting a further contribution from our major banks.
Key tax measures included:
- A major bank levy from 1 July 2017
- A commitment to extend the company tax cuts to cover all companies
- An extension of the instant asset write-off to 30 June 2018 for small business
- Strengthening of the multinational anti-avoidance law from 1 January 2016
- A suite of measures through the tax and superannuation system to relieve pressure on housing affordability
- An increase to the Medicare Levy by 0.5% to 2.5% from 1 July 2019.
Download a copy of our Federal Budget 2017-18 analysis report to find out more about the key themes covered this year.
Our team will continue analysing the details of the Budget and we’ll be releasing a series of Tax Insights into what the big changes mean for business. Stay tuned via this page, and:
Federal Budget 2017-18 Analysis
Download our analysis report
The key themes from this year’s Federal Budget brief
Read more on the blog
The reality is first home buyer issues cannot be “miraculously fixed” by the Federal Government.
By Peta McFarlane, David Watkins, and Roisin Arkwright, 2 May 2017
Although we can expect housing affordability to be front and centre in the 2017-18 Federal Budget, it is possible the Prime Minister’s preoccupation with innovation may play second fiddle.
By Serg Duchini, 24 March 2017
Explore the Federal Budget related blog posts.
Perspectives from tax@hand
The Shadow Treasurer, Chris Bowen, delivered a budget reply at the National Press Club on 17 May 2017, and further Labor announcements have been made in the ensuing days. So, what would an alternative Labor Budget hold in store? It is worthwhile taking stock of the tax-related announcements and statements that have been made by Labor.
24 May 2017
The 2016 Review of the R&D tax incentive was released for public consultation on 28 September 2016 by the then Minister for Industry, Innovation and Science, the Hon. Greg Hunt, with no sign as yet of any response from the government.
By Serg Duchini, 11 May 2017
This year's budget has a strong emphasis on infrastructure (including funding for major rail projects) and reducing the cash economy. As anticipated, there also is a strong focus on promoting housing affordability and assisting first home buyers enter the property market.
By Luke Imbriano, Heidi Armin-Grimm, James Fabijancic, 10 May 2017
Explore tax@hand for information and insights from Deloitte's tax specialists, globally.