KSR Update – May 2013 At KSR we are committed to providing our clients with a team that has the best training and up to date credentials. With this in mind and with great pride we would like to inform you that Stuart Flanigan, Andrew Narayan and Fiona Flanigan are now registered SMSF auditors with ASIC. Being able to provide … Read More
Welcome to the inaugural edition of KSR’s Budget 2013-2014 Outline – May 2013
In a move which was not unexpected, the Federal Government confirmed its turnaround from a forecast $1.5 billion surplus predicted in last year’s budget for the 2012-2013 year to a $19 billion deficit. This is followed by a further $18 billion deficit in the 2013-2014 year, and a return to surplus not expected until the 2016-2017 financial year. Whilst not unexpected, the quantum of the deficit and the time to restore a surplus still comes as a bit of a surprise. The Government is blaming a general downturn in the global economy and writedowns in expected tax receipts in the vicinity of $60 billion.