2017 Budget Recap
– an increase to medicare levy for Australians earning under $87,000
– the first home super saver scheme
– removal of the 2% budget repair levy for Australians earning over $180,000
We expect some compromise may be required in relation to the proposed changes to medicare levy and the first home super save scheme. Stopping the removal of the budget repair levy will be a difficult task for the Opposition as the levy is already legislated to cease on 30 June 2017.
So what were the key Budget tax announcements? Relive the action of our 2017 Federal Budget article here.