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 INLabor has no upside in passing tax cutsNot that you'd know it from the LNP cheerRentier media blames states for infrastructure "debt bombs"Witness the businomics ideology go to work. AtNSW stamp duty bust drives public sector job cutsBy Leith van Onselen The NSW Budget wasUniversities waste international student billions on administrationEarlier this month, Auditor-Generals from 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. SweeperMEMBER 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.