Australia - 2012-2013 Federal Budget

Global Watch ()

The Federal Government promised Australia would be in surplus again by 2012-13 and the Federal Treasurer, the Honourable Wayne Swan, MP did not disappoint when he delivered his 5th Budget at 7:30 PM May 8, 2012.

Returning the budget to surplus is important for Australia and even more so for the Government. Spending cuts, deferred Defence acquisitions and a range of social, health and education programs were topped off with an array of tax changes, not the least of which is the reforms to the Living-Away-From-home concessions which are dealt with in our Global Watch issued earlier today.

In this second Global Watch we review the other important tax changes proposed by a Government which is continuing down a predictable path of tax reform.