Presented by Firstname Surname Jobtitle/Position A presentation to Client Name Date 2014 Budget summary

PRESENTATION TITLE | 00 MONTH YEAR 2 is not a registered tax agent. If you wish to rely on this determine your personal tax obligations you should seek advice from a Registered Tax Agent. Disclaimer

PRESENTATION TITLE | 00 MONTH YEAR 3 TAXATION Temporary Budget Repair Levy ‒ Additional levy of 2% will be payable on taxable incomes over $180,000pa ‒ Top marginal tax rate to 49% ‒ Fringe Benefit Tax (FBT) rate will increase to 49% ‒ From 1 July 2017, top marginal tax rate returns to 47% 2014 FEDERAL BUDGET ANALYSIS 13 May 2014

PRESENTATION TITLE | 00 MONTH YEAR 4 TAXATION HELP debt changes ‒ 1 June 2016 interest 10 year Government bond rate, maximum rate of 6%pa ‒ 1 July 2016, HELP debt repayments from a lower income level 2014 FEDERAL BUDGET ANALYSIS 13 May 2014

PRESENTATION TITLE | 00 MONTH YEAR 5 TAXATION Tax offsets to be abolished ‒ Dependent Spouse and Mature Age Worker Tax offsets to cease from 1 July FEDERAL BUDGET ANALYSIS 13 May 2014

PRESENTATION TITLE | 00 MONTH YEAR 6 TAXATION ‒ Company tax rate to reduce by 1.5% to 28.5% from 1 July ‒ Introduction of fuel excise indexation by CPI FEDERAL BUDGET ANALYSIS 13 May 2014

PRESENTATION TITLE | 00 MONTH YEAR 7 SUPERANNUATION Excess non-concessional contribution (NCC) ‒ Option for excess from 1 July 2013 to withdraw those NCC’s that exceed the cap plus the related earnings on the excess ‒ No tax on the excess amount withdrawn ‒ Tax on individual’s marginal tax rate ‒ If no election is made, the excess will be taxed under the existing top marginal tax rate 2014 FEDERAL BUDGET ANALYSIS 13 May 2014

PRESENTATION TITLE | 00 MONTH YEAR 8 SUPERANNUATION Revised SG rate increase ‒ Increase to 9.5% will take effect on 1 July 2014 ‒ Increase will remain at 9.5% for four years ‒ From 1 July 2018, it will increase by 0.5%pa, before reaching 12% on 1 July FEDERAL BUDGET ANALYSIS 13 May 2014

PRESENTATION TITLE | 00 MONTH YEAR 9 SOCIAL SECURITY Increase in Age Pension age to 70 ‒ Age Pension will increase to 67.5 from 1 July 2025 as previously legislated. It will then continue to rise by six months every two years, until the pension age reaches 70 by 2035 ‒ Currently the Age Pension age is due to increase from 65 starting on 1 July 2017, and gradually reach 67 by 1 July FEDERAL BUDGET ANALYSIS 13 May 2014

PRESENTATION TITLE | 00 MONTH YEAR 10 SOCIAL SECURITY Increasing cost of medical care ‒ A contribution of $7 may be charged from 1 July 2015 for certain services. ‒ Relief for holders of concessions cards and children under 16 years of age 2014 FEDERAL BUDGET ANALYSIS 13 May 2014

PRESENTATION TITLE | 00 MONTH YEAR 11 SOCIAL SECURITY Family Payment Reform from 1 July 2015 ‒ Changes to payment rates ‒ Changes to eligibility thresholds ‒ Changes to eligibility ‒ Other Changes 2014 FEDERAL BUDGET ANALYSIS 13 May 2014

PRESENTATION TITLE | 00 MONTH YEAR 12 SOCIAL SECURITY Commonwealth Seniors Health Card (CSHC) changes ‒ Current thresholds $50K singles $80K couples to be indexed from 20 September 2014 to Consumer Price Index ‒ From 1 January 2015, the definition of income for the card will be expanded to include income from superannuation pensions assessed at pre-determined rates (deemed) ‒ Grandfathering rules will apply. ‒ 20 September 2014, the seniors supplement will no longer be payable. However, Clean Energy Supplement remains payable FEDERAL BUDGET ANALYSIS 13 May 2014

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