This year’s budget was less explosive than pervious.
A quick summary:
We’ll see a slight rises from 2.0% to 2.5% from 1 July 2019. This is to help fund the National Disability Insurance Scheme.
Capital gains tax discount
Capital gains tax discount for investors in affordable housing
Managed investment trusts will be allowed to develop and own affordable housing.
Investors to get a capital gains discount of 60%, provided that they invest in qualifying affordable housing.
Small business accelerated depreciation extended
Immediate deduction of assets up to $20,000 extended to 30 June 2018.
Eligibility for student payments will be limited to people undertaking courses approved for VET student loans.
Existing student payment recipients will be grandfathered for the duration of their current course unless there is a break in their payment entitlement.
Consider this if you want to fund your child’s education costs.