Source: Jobs Australia
This infographic visually indicates the unemployment in Australia (Feb 2013, source: Jobs Australia).
PDF can be downloaded by clicking on this link: Jobs Australia – Unemployment in Australia Infographic (February 2013)
Author: Raj Sesha, Tax Agent and Director SDP Solutions
Given that this is an election year with the current government’s chances of being re-elected are low, that is the question in everyone’s mind. As it was expected budget deficit, disability scheme and spend on education etc. are confirmed. I shall not go into the macro economic items, but will focus on what are the tax, super and other changes that impacts businesses and independent contractors.
Potential Tax on Super for those Earning over $300,000
The vast majority of taxpayers will be exempt from the upcoming budget superannuation changes, with Treasurer Wayne Swan to target those who earn $300,000 plus.
With the government desperate to find savings to fund its Gonski education and disability insurance reforms, it is understood the super changes – to be unveiled in the May 14 budget – will hurt fewer than 100,000 people.