Business

Budget coverage too much?

IN CASE you missed it, the 2012 Federal Budget was released this time last week.

Hopefully by now you have got over the sad news that a pot of beer will now cost you 20c more, and that the unemployed can no longer go on overseas holidays for more than six weeks while collecting benefits.

The more serious news in this year's Federal Government budget, as far as small business goes, is the 1% company tax cuts…what company tax cuts?!

Amid all the political finger-pointing, it is the small businesses of Australia who are playing a substantial role in driving the economic miracle, and these small businesses miss out.

Of course, if your business is not a company, this won't have much impact, and you (along with many other Australian taxpayers) will be able to benefit from the tripling of the tax-free threshold from $6000 to $18,200.

This means an extra $2,053 for someone with a taxable income of $50,000.

Also in small business budget news, small business's ability to shift losses back to earlier, more profitable years may be a help for some struggling businesses.

I wonder if this is really just a band-aid - it's nice to blame tax for underperforming businesses, but what happens once the tax benefits of losses have been used up?

The 'honey pot' item, otherwise known as the Schoolkids Bonus, is probably a good idea.

The Education Tax Refund was way too complicated, and if you were serious about substantiating your claim, it was a pain in the proverbial to keep the necessary documentation.

My concern is that the Schoolkids Bonus is as misdirected as the Baby Bonus - surely by now every family has enough flat screen TV's!

I wonder what this bonus will be spent on…

Possibly the most publicised feature of this year's Budget was…cue drum roll…the surplus!

This dreaded surplus has been a political football for so long (and continues to be!); it is no surprise that the final result is a battered and bruised apology for a surplus.

In light of the previous year's result (a $44 billion dollar blowout!), this can't be taken seriously.

Whether or not a budget surplus occurs, we need to remember that this is just a budget.

We'll have the opportunity this time next year to come up with a brand-new set of numbers for political and economic commentators to discuss ad nauseum…and our lives will go on, largely unaffected.

Do you think the Budget is far too over-publicised?

Topics:  allan johnson business federal budget 2012 opinion



Date nights under $50

ACCORDING to The Bachelor falling in love involves helicopter rides, private jets, shopping trips, and we mustn’t forget the hot tubs.

Brisbane's arts and culture events centre stage

You loved the film, now you're about to love the musical. Don't miss The Bodyguard The Musical in Brisbane this July.

THE arts and culture events you don't want to miss.

Homewares stores to fulfil your Instagram dreams

No Caption

You too can become an Insta-star with these fab stores.

Top 10 Brisbane experiences to cross off your bucket list

Do yourself a favour and get amongst the food truck scene. Eat Street is a great place to start.

A GOOD bucket list doesn’t have to span continents or cost millions.

Six mega sporting events you need to be at this year

Don't miss all the action trackside this season.

IF THERE is one thing Brisbane does damn well, it’s play host.

Six reasons to get to Brisbane this Autumn

The Brisbane Powerhouse has free comedy on Friday nights.

AUTUMN has to be up there with one of the best seasons of the year.

The best things to do in Brisbane are FREE. Yes, FREE

Mt Coot-tha is a seriously gorgeous way to start your day.

HEADING to the big smoke doesn’t have to come with a big price tag.

Doctor's pregnancy comments cause outrage

South-west health directer doctor Chris Buck.

A DARLING Downs doctor has come under fire for a Facebook post

Warwick company vehicle stolen in brazen theft

Generic police sign  Photo Contributed

A distinctive vehicle has been stolen from a Warwick address.

Warwick drivers' worst road habits

stress girl in a car

From poor signalling to mobile phone use

Local Partners

19 dead, 59 injured after nail blast: Ariana Grande concert

NINETEEN people have been killed and at least 59 people have been injured following a terror attack in Manchester

Ariana Grande breaks her silence after fatal blast

According to reports quoting witnesses, a mass emergency evacuation was prompted after explosions were heard at the end of US singer Ariana Grande's concert in the arena.

The entertainment industry is in shock after attack on concert

Pitch Perfect star suing Woman’s Day over ‘liar’ articles

Actor Rebel Wilson outside court on Friday.

REBEL Wilson's career destroyed by grubby campaign, court hears.

Seven Year Switch: The boner to end all boners

Johnny’s outraged over claims he has a cracked boner.

She gulps. Her face says it all.

Bay to star in Hollywood shark thriller ‘Cage Dive’

Cage Dive, written and directed by Gerald Rascionato, is now screening in the United States of America. It had scenes filmed in Hervey Bay.

And our visiting humpback whales also make appearance.

Celebrity sex tapes: Where does all that money go?

Basically, did Paris and Kim earn fortunes from their videos?

Cher, 71, and Celine Dion wow world at Billboard Awards

“I’m 71 yesterday and I can do a five-minute plank, OK.”

One of Maryborough's most historic homes is still for sale

FULL OF HISTORY: Trisha Moulds is owner of the historic Tinana state known as Rosehill. The beautiful home is currently for sale.

It has been the scene of both joy and tragedies over the years.

The face of the Sunshine Coast's overpriced rental crisis

Alyx Wilson had to rent a $385 unit in Currimundi because the market was too competitive for cheaper rental housing. She is now renting a room from friends who own a house in Currimundi, and says its much more affordable.

Young people feel the strain in competitive, expensive rental market

WATCH: Take a tour of a tradie's dream home

5a Bruce Hiskens Court, Norman Gardens, going for $720,000. INSET: Lea Taylor.

Huge block with potential for anything

Deputy Premier makes massive call on controversial sand mine

Aerial view of the proposed Forest Glen sand mine.

BREAKING: State Government makes huge call on Coast sand mine plans

Ready to SELL your property?

Post Your Ad Here!