Share on Facebook Share on Twitter Share on Reddit + - Budget impacts on the economy, tax and markets By Houses and Holes in Australian budgetat 3:59 am on May 14, 2014 | 6 comments Here are: Westpac on the Budget. NAB on the Budget. COMMSEC on the Budget. PWC on tax implications. KPMG on business implications. JP Morgan on market implications. Enjoy! Share on Facebook Share on Twitter Share on Reddit + - YOU MAY ALSO BE INTERESTED IN"Panic selling" crashes coking coal, Budget nextGoodbye Budget. Via Mining: The AustralianRecessionberg tramples disabled and dead for surplusJosh Recessionberg collects his Golden Turd awardGo long Recessionberg stupidityVia Reuters: The government will publish itsVictorian pollies get massive pay rises as households flounderThe newly established Victorian Independent Comments aj. May 14, 2014 at 6:39 am Tax analysis here. http://www.pwc.com.au/tax/assets/federal-budget/Federal-Budget-2014.pdf Those looking for changes to big structural distortions that favour asset speculation over labour, and miss allocation encouraged by the tax transfer system will find that this is best described as a business as usual budget for the Laberal party. Yawn. hpreston79 May 14, 2014 at 8:41 am KPMG have also done an analysis here: http://www.kpmg.com/AU/en/IssuesAndInsights/ArticlesPublications/federal-budget/Documents/budget-2014-brief.pdf Page 4 notes “The introduction of the Temporary Budget Repair Levy takes Australia’s top marginal rate to 49 percent. This will make tax effective strategies including negative gearing more attractive”. So more speculation and use of tax concessions/loopholes is where we are heading….fantastic, good job Joe! AB May 14, 2014 at 2:09 pm “Page 4 notes “The introduction of the Temporary Budget Repair Levy takes Australia’s top marginal rate to 49 percent. This will make tax effective strategies including negative gearing more attractive”.” Company that sells tax minimisation advice recommends tax minimisation. News at 11. Explorer May 14, 2014 at 9:25 am Do any of them deal with the massive increase in the trust deficit? Westpac shows that we have been fed more lies since the election about a budget crisis. They totally undermines the whole dea of a budget crisis: “The Commonwealth Government’s net debt position remains extremely manageable. Net debt is forecast to rise from 10.0% of GDP in 2012/13 to 14.6% of GDP in 2016/17; it then narrows to 14.0% of GDP in 2017/18.” Houses and HolesMEMBER May 14, 2014 at 11:31 am Ask S&P if cuts are needed. Sweeper May 14, 2014 at 7:14 pm Seems like commentariat/market are underestimating the negative effect on growth this budget is likely to have. This could easily turn out to have the same effect as an austerity budget. Reason is: the household saving ratio. The young and lower income earners are going to take the biggest hit to their disposable income. But these are today’s debtors, those with the highest propensity to consume. It doesn’t seem well thought out from a macro view point at all.