Commonwealth Budget 2009 - Summary
Following are some highlights of the budget and a brief summary with links to full budget reports further down in this message.

• A cut to Superannuation contributions to $25,000 from 2009/10
• Changes to Small Business and General Business Tax Break
• Personal use of company assets caught by Division 7A
• Off-market share buy-backs
• Restriction of the use of non-commercial losses
• Technical changes to the Uniform Capital Allowance regime
• Changes to employee share scheme rules
• New Research & Development tax credit to replace existing concessions
• Announcement of the review of the deductible gift recipient registers
• GST treatment of Carbon Pollution Reduction Scheme (CPRS) units
• Reforms to GST administration and review of margin scheme
• GST and cross-border transport supplies.

If you have any questions at all about how the budget may affect you or your business please feel free to give us a call on 9820 6400.