2011 Budget

Topics Companies, People, Special Events

In the 2011 Budget Federal Treasurer Wayne Swan has delivered a budget designed to help the Government keep its promise of getting back to surplus in 2012-13. But despite talk of savage cuts, Swan has unveiled a series of smaller initiatives for SMEs and households and one major spending focus - $3 billion skills program designed to increase workforce participation. Read all the latest on the 2011 Budget below:

Monday, 16 May 2011

Government defends budget, as polls show Labor on the nose

Wayne Swan says last week's budget was not about opinion polls. That's probably a good thing – the post-budget polls have been shockers.

THE BIG PICTURE: Cautious consumers create GST conundrum

When will the period of “consumer conservatism” come to an end? That is the 64 thousand dollar question.

Why history could be kind to Wayne Swan: Kohler

Wayne Swan’s budget projection of 1% annual growth in spending is ambitious, it’s true, but at least that’s where his ambition is directed, not towards getting the top job.

Friday, 13 May 2011

THE LIGHTER SIDE: Taxation explained

With the release of the Federal budget this week, we take a look at how taxation really works.

Federal Budget 2011: Big numbers and lots of little tax changes

A $50 billion deficit with promises of it being reduced in future years – that was a key message from the budget. But what of tax measures? There were many and varied.

Thursday, 12 May 2011

Budget fails to address red tape, credit problems for SMEs: Billson

Opposition Small Business spokesperson Bruce Billson says the Federal budget fails to address the significant issues facing Australia’s small businesses.

Wednesday, 11 May 2011

FEDERAL BUDGET 2011: PAYG tax reprieve no big relief for small business, experts say

Business experts are disappointed over the Government's new initiative to temporarily reduce the amount charged to SMEs in quarterly PAYG tax installments, saying it is only a minor initiative that could have been expanded.

FEDERAL BUDGET 2011: Budget a mixed affair for small business, unlikely to lift confidence: COSBOA

Last night's budget has drawn a mixed response from Australian SMEs, with some positive elements, but plenty of room for improvement according to business groups.

FEDERAL BUDGET 2011: Economists say budget won’t stop rate rises, says cuts should have been larger

Economists say the budget contains few surprises and won’t stop the RBA from lifting interest rates this year, but some are disappointed the Government didn’t unveil larger spending cuts.

Something for everyone

It’s harder to find the cuts in Wayne Swan’s budget than it is to find the new initiatives.

FEDERAL BUDGET 2011: Nine hits make a lethal combination: Gottliebsen

The 2011-12 budget delivers nine blows to middle income Australia. On their own, each measure might be claimed as fair but in combination they are lethal.

Tuesday, 10 May 2011

FEDERAL BUDGET 2011: Crackdown on allocating income to children via trusts

The Government will move to stamp out the tax minimisation strategy that allows trust owners to stream $3,333 to children aged 18 and under tax free by abolishing the low-income tax offset for non-work income of minors.

FEDERAL BUDGET 2011: SMEs granted $5,000 car deduction, PAYG cashflow benefit

Small businesses will be allowed to claim up to $5,000 as an immediate deduction for any car purchased during the 2012-13 financial year, according to the newly released federal budget.

FEDERAL BUDGET 2011: Swan takes the politically safe approach

In truth Wayne Swan has produced a budget that is hard to distinguish from his effort last year or in 2008. There’s the same unwillingness to cut deeply into sensitive spending areas, in favour of fiddling at the margin and cutting rats-and-mice spending.

FEDERAL BUDGET 2011: Government cracks down on charities

A new independent statutory agency called the Australian Charities and Not-for-profits Commission will be introduced by July 2012 as part of a $53 million crackdown on charities in this year's Federal Budget.

FEDERAL BUDGET 2011: Small business support line given $7.1 million over four years

Funding for the Small Business Support Line has been extended in this year's budget, with the project to receive a further $7.1 million over the next four years.

FEDERAL BUDGET 2011: ATO receives $146 million to crackdown on phoenix schemes, tax refund fraud and contractor payments

The Government has again flagged a crackdown on tax avoidance in this year's budget, with operators of phoenix schemes given special attention in a round of new measures that will see harsher punishments for company directors caught breaching tax laws