Australia

Details

  • Service: Tax, Corporate Tax, Global Transfer Pricing Services, Indirect Tax, International Executive Services, R&D Incentives, Superannuation & Pension Funds, Topics, Tax Reform, Federal Budget
  • Type: Business and industry issue
  • Date: 4/05/2012

Tax Perspectives: Main economic drivers underlying the Federal Budget 

KPMG has prepared a background note outlining the key economic drivers underlying the Federal Budget 2012-13, to be delivered on 8 May 2012.

The deficit for the 2011-12 year was estimated to be $37 billion by Treasury in the later part of last year and could likely be as high as $40 billion based on government statements on declining revenues. To move to a surplus for the 2012-13 year will be far from easy.


With that in mind it is important to recognise that the Australia we face today is very different from Australia pre-Global Financial Crisis (GFC). There have been significant structural shifts. 

 

Key topics

  • a declining Gross Domestic Product (GDP) ratio
  • increased household savings and lower consumption
  • long term decline in productivity.
 

Federal Budget 2014

Federal Budget 2014
KPMG's review of the major implications arising from the 2014 Federal Budget.

Tax

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