A snapshot of the 2017 Federal Budget
This year sees the Federal Government investing record funding into public hospitals. There are also changes to GP bulk-billing incentives, an increase in PBS and Healthy Heart funding, continuation of mental health support, and new funding for medical research.
Personal income tax rates will not change however the 2% Temporary Budget Repair Levy will end on 30 June 2017. The Medicare levy will increase from 1 July 2019.
In good news for small businesses, the $20,000 instant asset write-off has been extended until 30 June 2018 (more on this, below). Finally, look out for incoming higher education reforms, changes to property taxes, and announcements regarding superannuation.
For more information, simply give Bongiorno a call on (02) 9326 2788 or check your inbox for our 2017 Budget newsletter.