• 2019 Australian Federal Budget

    “Setting the course for a better and brighter Australia” – Josh Frydenberg.

Federal Budget 2019-20 - BDO's Federal Election comment

Updated 20 May 2019

The Coalition has been returned to Government for another three years, indicating that the voting public swayed more to evolution of change rather than revolution.

While it may seem that it will be back-to-business as usual, there are indications that the revitalised Morrison Government will be prepared to take on some of the hard and important decisions that are needed to ensure Australia is in a competitive position in the fast-changing world economy.

BDO particularly encourages the Government to revitalise the Tax Reform agenda, looking at all options and with a wide focus on all Federal and State taxes and charges. Tax Reform does not just mean tax cuts - it means looking at how tax policies interact with each other and the economic and social aspects of taxes. Keeping the tax system as simple, fair and efficient as possible is a good place to start.

BDO’s Tax and Business Advisory experts have already summarised many of the policy measures handed down by the returning Government in our recent Federal Budget Report.

While there was nothing in the budget to scare those in the business community doing the right thing, for those businesses that don’t, we expect to see increased ATO scrutiny with the ATO set to receive substantial funding for anti-avoidance measures.

There have not been any business-related measures outlined by the Coalition Government since the Federal Budget, but we expect there will be draft legislation to implement the 2019/20 Federal Budget announcements and possibly some further tax announcements in the coming months.

BDO will, as usual, keep you informed of these developments.

 

Videos

Federal Budget Introduction
Marcus Leonard, National Leader, Tax
Tax cuts
Neil Billyard, Partner, Tax
Superannuation
Shayne Carter, Partner, Tax
Anti-avoidance
Joel Phillips, Partner, Transfer Pricing & Carlo Moretti, Partner, Tax
Melbourne Federal Budget Dinner
David Blake, Partner, Tax
Tax Reform
David Blake, Partner, Tax
Transfer Pricing
Zara Ritchie, Global Leader, Transfer Pricing