How does the Budget impact on large businesses?

  • No tax increases or tax breaks were announced but there was confirmation that the ATO will increase their monitoring of, and investigation into, tax avoidance. A tax ‘management’ plan needs to be in place to support the reporting of results and the correct tax being paid.
  • The ATO reported last month that since 1 July 2016, $12.9bn in additional tax had been collected from public companies, multinationals and high wealth individuals.

 

Note!

Talk to your tax adviser about any questions that arise or the impact that the Budget may have in your personal circumstances.

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