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Now that all the rhetoric, assertions, denials, leaks and speculation surrounding the 2013 Federal Budget have finally made way for reality, it’s time to address its implications for you, your business and the Australian economy.
Here’s Part 1 - the BlueChip team’s pick of post Budget analysis most relevant to those of us in financial services and wealth management. Part 2 will give our pick of the best analysis from financial commentators and media.
Financial Services Council
In addition to Budget analysis tomorrow, the Financial Services Council will be joining forces with Money Management to provide in-depth analysis of the 2013/14 Budget. They will be conducting a Forum in Sydney on 31May in which ‘key players and stakeholders can provide a thorough analysis of the Budget as well as the broader policy implications and alternatives’.
http://www.fsc.org.au/events/2013the-budget,-the-election-and-you.aspx
Institute of Chartered Accountants Australia
The ICAA has already produced a pre-Budget submission, which is available on its website. Once the Budget is delivered, the Institute will provide updates and commentary on all aspects of the Budget.
http://www.charteredaccountants.com.au/Industry-Topics/Tax/Current-issues/Federal-Budget-hub
KPMG
As you would expect, KPMG provides substantial pre- and post-Budget analysis, with a specific focus on its implications for business. Commentary is provided by in-house industry specialists.
http://www.kpmg.com/AU/en/topics/Federal-Budget/Pages/Default.aspx
Deloitte Access Economics
In addition to its real time commentary, Deloitte has produced a full Budget Alert this morning, including detailed economic and tax implications from Deloitte’s tax and Access Economics areas.
Financial Planning Association
Dante De Gori from the FPA will be in the lock-up and so among the first of the major industry associations to have access to the full detail of the Budget and its implications. The FPA will produce a webinar and a various targeted communication, primarily for its members, but also available to the public at large on the FPA website at:
SMSF Professionals Association of Australia (SPAA)
The peak body for SMSF professionals issues a statement post budget, basically stating that there were no big surprises in the budget as far as they are concerned. The link to the statement is below.
The Association of Superannuation Funds of Australia (ASFA)
ASFA has released a media statement and overview of the Budget, below.
http://www.superannuation.asn.au/ExternalFiles/email_aa/aa130514-ws.html
Australian Taxation Office (ATO)
You can access the Budget papers in their entirety from the ATO home page, along with the Government’s stated aims around their Budget decisions.
Finally – a bit of well-earned fun.
Reckon you could have done better in Wayne’s world than Wayne? Made better trade-offs? Balanced the Budget with ease? Kept everyone happy? Well, maybe that last one is a bit of stretch, but seriously, why not have a go at it yourself? Balancing the Budget that is.
Remember the “Scooby-doo” ending in Wayne’s world? Now you can make your own Budget “ending” - try your hand at balancing the Budget here”
http://www.smh.com.au/data-point/you-be-the-treasurer-20130507-2j5gr.html
Let us know how you go.
