Tax, superannuation & the economy: What does the election result mean?

To qualify, these items must be predominantly used in the United States (which makes sense given the desire to stimulate.

Reduce school property taxes over time by raising the sales tax from 6 percent to 7 percent and raising the personal income tax to 3.7 percent. Allow school boards to reduce or eliminate taxes by raising local earned income or business taxes.

We expect that an election will be called shortly and Australians will go to the polls in May. Despite some downside risks to the economy, increased tax collections and cost savings have resulted in an anticipated Budget surplus in 2019-20 of $7.1 billion with further surpluses anticipated over the medium term.

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Many people with money invested in superannuation assume there is some kind of deposit guarantee, such as that offered under the Financial Claim Scheme (FCS). However, the means by which superannuation is invested, may mean that your deposit into super is not covered. Firstly, you need to understand the scope of the FCS.

The last payroll tax cut came during the Obama administration in 2011 and was intended to kick-start the economy following the 2008 recession. Congress renewed the temporary cuts again in 2012.

But Mr Albanese and the Labor leadership are still not prepared to accept this by agreeing to the full measure of the tax reform that formed the core of the Coalition’s election. problem of sub-par.

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Prime Minister Theresa May has just made a blunder for the ages. But most observers agree on one result: The election is a direct repudiation of May’s approach to the Brexit negotiations with the European Union. There are many different ways the UK could formally leave the EU, either retaining ties or cutting many.

Next week’s budget will be the first major economic speech of the election campaign, and recent indications are that tax cuts will be a prime focus.. through tax concessions to superannuation. This does not provide a positive outlook for economic growth.

Chapter 1 Questions 1-40.. revenue neutrality does not mean that any one taxpayer’s tax liability remains the same. Since this liability depends upon the circumstances involved, one taxpayer’s increased tax liability could be another’s tax saving.. the $11,750 in tax savings that result.

This does not provide a positive outlook for economic growth. Should you wish to discuss the election result will impact your investment and/or superannuation portfolio please contact certified financial planner Elliot Watson on 0409 931 984.

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