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RESULTS IN YOUR BUSINESS, FINANCIAL & TAXATION AFFAIRS
Who doesn’t like a tax cut when they personally benefit from it? In a recent speech, the Treasurer said that personal tax cuts were required to prevent ‘bracket creep’ – that’s jargon for what happens when the tax rate thresholds don’t keep pace with inflation and more people are pushed into a higher tax bracket (they get taxed more and potentially lose access to benefits but are economically standing still). The last change to the tax brackets was in 2012 to increase the tax
The Economy It’s almost impossible to predict what the local and global economic environment has in store for us in 2015. The ‘who knows’ factor is adding to uncertainty and in general, business is not ramping up for growth but maintaining a ‘steady as she goes’ approach – meaning low investment and jobs growth. Outcome of the reserve bank board meeting The Reserve Bank of Australia ("RBA") have yesterday joined a chorus of other central banks and cut interest rates by a quar