Budget impacts on the economy, tax and markets

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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!

Comments

  1. 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!

    • “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.

  2. 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.”

  3. 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.